The global stand-up pouches market size is expected to gainmomentum exhibiting a CAGR of 7.73% between 2019 and 2026. Factors such asincreasing demand for sustainable packaging and rising preference for packagedfood products is likely to propel the market growth during the forecast period.Fortune Business Insights, publish this information in its latest report,titled “Stand-up Pouches Market Size, Share & Industry Analysis, By Type(Aseptic Pouches, Standard Pouches, Retort Pouches and Others), By Materials(Plastics, Foils, Paper), By Closure Type (Top-notch, Spout, and Zipper) ByApplication (Food, Beverages, Beauty & Personal Care, Dogs & Cats food,Homecare Products and Others), and Regional Forecast, 2019-2026.” The reportsfurther mention that the market was worth USD 11.13 billion in 2018 and isprojected to reach USD 20.12 billion by 2026.
Stand-up pouches have a long dating history as Louis Doyen,the CEO of Thimonnier, the French machine manufacturing company invented themin 1963. They are typically made of multiple layers of plastic, while theprimary raw material used in their manufacturing is a polyethylene resin.Additionally, the resin involves granules of polyethylene that is consideredthe most common form of thermoplastic. Furthermore, they are new-age packagingoptions that are manufactured with several standard procedures and include tearnotches, bottom gussets, hang holes, and re-closable zippers, among others.
Increasing Demand forSustainable Packaging to Promote Growth
There is a huge demand for sustainable products that arerecyclable, have lower operating costs, durable, and longer shelf life in thepackaging industry. Stand-up pouches are flexible and light in weight that aremanufactured from complete recyclable materials. Additionally, they beingeco-friendly and extremely durable are gaining prominence in the packagingindustry. Furthermore, increasing demand for sustainable products is likely todrive the global stand-up pouches market share during the forecast period. Forinstance, in May 2020, Accredo Packaging received the People’s Choice award atthe Sustainability Innovation Awards program organized by Plastic IndustryAssociation (PLASTICS). The company designed a complete polyethylene and fullyrecyclable stand-up pouch, AccredoFlex RP Gen2, which consists of over 25% ofbio-based resin. Moreover, it is manufactures using wind and solar energy.
North America toRemain Dominant; High Demand for Ready-to-Eat Products to Surge Demand
Among the regions, North America was worth USD 1,299.45million in 2018 and is likely to register highest global stand-up pouchesmarket revenue during the forecast period. This is ascribable to factors suchas high-demand for ready-to-eat food products owing to hectic lifestyle amongthe population. Europe, on the other hand, is anticipated to witnessexponential growth backed by increasing launch of novel products by themanufacturers in the region. The market in the Asia-Pacific is expected towitness significant growth owing to increasing demand from food processingindustry and rising retail market between 2019 and 2026.
Product ExpansionStrategies by the Companies to Aid Growth
Fortune Business Insights through its detailed analysisreports that the market is fiercely competitive and the companies operating arestriving to gain major chunk of the global stand-up pouches market share duringthe forecast period. For instance, in May 2020, Parikh Flexibles, a part of theConstantia Flexibles Group consortium, announced its purchase of Expert K51350mm machine that will be installed at the Ecoflex facility in Ahmedabad,India. According to the company, the machine is capable of manufacturing fullyrecyclable and sustainable packaging solution as an efficient replacement foraluminum foil.
Browse Summary of This Research Report with Detailed Tableof Content: https://www.fortunebusinessinsights.com/stand-up-pouches-market-102585