Ocean View, Delaware, Oct. 30, 2017 (GLOBE NEWSWIRE) -- High Barrier Pouches Market share is estimated to hit USD 2.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing consumption of packed and retort food due to shifting trend towards nuclear families will drive high barrier pouches market growth. As per analysis, global packaged food industry reached USD 2.6 trillion in 2016.
Shift in manufacturer focus towards packaging as promoting tool rather than protective package has enhanced high barrier pouches market size. Innovations in packaging design to delight customers without harming basic purpose of packaging are key supporting factors of industry growth.
Changing lifestyle and increasing disposable income particularly in developing countries will support industry growth. Technological advancements in product design to prevent loss of moisture and retain product freshness are major factors fueling product demand. Reduced packaging material usage along with low storage and handling cost will drive high barrier pouches market.
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Rising consumption of packaged beverages particularly among millennials is among major factors driving industry demand. Increasing product adoption in pharmaceuticals, personal care & homecare, and pet food industry will propel the product demand. Moreover, product innovations in add-ons including fitments, spouts, zippers and slider will drive the business growth.
Regulatory compliance along with emergence of food grade materials has enhanced the high-barrier pouches demand. However, stringent regulations on emissions along with increasing concerns on plastic wastes may hamper industry growth.
Standup pouches will value over USD 1 billion by 2024. Convenience in storage & transportation, enhanced shelf appearance, easy to carry and improved protection of package content are the key factors driving product demand. Excellent resistance against gases and water vapor has stimulated product scope in several applications including pet food, industrial, food and beverages.
Spouted pouch packaging is the fastest growing segment with CAGR over 6% up to 2024. Ease in handling, mess free food consumption along with ready to pour are the key driving factors of industry growth.
Browse key industry insights spread across 350 pages with 338 market data tables & 12 figures & charts from the report , “High Barrier Pouches Market Share & Forecast, 2017 – 2024” in detail along with the table of contents
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Polyethylene high barrier pouches market accounted for more than 25% of overall industry share in 2016. Excellent water and chemical resistance along with tensile strength provides positive outlook for product penetration. Rising demand from homecare, personal care and industrial applications will propel the industry demand.
Industrial application will observe gains over 5% up to 2024. Increasing penetration of standup and spouted packaging for paints, coatings, lubricants and oils will drive industry growth. Rising number of manufacturing facilities along with shifting focus on infrastructure development particularly in emerging nations will support product demand.
Five-layer accounted for over 55% of total industry share in 2016. Growing adoption of protective additives including EVOH, SiOx and AlOx to improve the packaging strength will fuel industry growth. Necessity for protection against stains, solvents and UV rays have enhanced the demand for multilayer packaging.
Europe will worth over USD 1 billion by 2024. Changing income trends along with improving standard of living will propel business growth. Strong outlook in pharmaceutical sector has enhanced product penetration owing to its heat resistance, acid resistance and greater shelf life properties.
North America high barrier pouches market revenue will witness gains over 6.5% up to 2024. Shifting consumer preference towards liquid diet due to increasing health consciousness will drive regional demand.
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Global high barrier pouches market is fragmented due to presence of limited industry players. Some of the key players are Amcor, American Pouch, Bemis, Vacuum Pouch Company, Hood Packaging, Sonoco, Elliot Packaging and Essentra PLC. Strengthening product portfolio, distribution channel and product innovations are major strategies adopted.
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