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The global stand-up pouches market size is projected to reach USD 20.12 billion by 2026, due to its increasing popularity among retailers, consumers, and producers. Stand-up pouches have a larger base and are re-closable, bottom gusseted, have hand holes, and have windows which further increases its popularity. A recently published report by Fortune Business Insights™ 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) By Application (Food, Beverages, Beauty & personal care, Dogs & Cats food, Homecare Products and Others), and Regional Forecast, 2019-2026,” offers interesting insights on the market. As per the report, the value of the market was USD 11.13 billion in 2018 and is expected to rise at a CAGR of 7.73% during 2019 to 2026.
Leading Producer of Flexible Packaging Solutions Entering into Pet Food Packaging Market
Coveris, the leading producer of flexible packaging solutions have decided to expand their reach towards pet food packaging in February 2019. Under the leadership of CEO Jakob A. Mosser, the company is now entering into pet food packaging segment to attract more revenue. He says, “Sterling work was done by the management team the previous year in Neuwied and is further improved its quality and productivity. We also launched a new flat pouch system for dry food category in September 2019 with a wide variety of paper and plastic solutions.”
The company is making massive investments into cylinder engraving and assembly at their Germany Site, for attracting more revenue. Such innovations taken by major companies are likely to aid in expansion of the market in the forthcoming years.
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Rising Popularity of Ready-to-Eat Food Products Boosting Market
There is high demand for stand-up pouches from the food and beverage packaging industry and this stands as a major stand-up pouches market growth driver. Additionally, current stand-up pouches market trend of ready-to-eat and on-the-go-snacks are also aiding to the expansion of the market.
On the flip side, the market may face challenge in terms of the flexible nature of stand-up pouches market. Since pouches do not have the capability of standing upright without products filled up to the brim, they are not tensile. This nature may act as a major hindrance to the overall market in the long run. Nevertheless, the declining preference for metal cans and rising inclination towards pouched drinks will create lucrative growth opportunities for the market in the coming years.
The global stand-up pouch market is enjoying the dominance of two major companies namely Amcor Plc. and Mondi. Plc
As per Fortune Business Insights™, Mondi. Plc and Amcor Plc. earned the highest stand-up pouch market share owing to the presence of a diverse portfolio and introduction of innovative products. Other companies operating in this market are adopting merger and acquisition strategies, contracts and agreements, company collaborations and others to gain a competitive edge in the market. Furthermore, players are investing huge sums into production of innovative pouch designs and this will help attract high stand-up pouch market revenue in the coming years.
Key Industry Developments of Steel Wires Market include:
List of Stand-up Pouches Market Manufacturers include:
Further Report Findings
Global Stand-up Pouches Market is segmented into:
Value (USD billion) and Volume (Billion Units)
By Closure Type