Pouch Films Market: Overview
A pouch is a flexible container that is generally used to store products and is one of the most widely merchandised commodities globally. Pouch films are an efficient way of keeping the produce fresh, cool & safe. Pouch films find major applications in the flexible packaging industry. They also find various applications in end-use industries, such as food, pharmaceuticals, chemical and personal care & cosmetics industries. Growing inclination towards packaged food is an important factor expected to drive the growth of the global pouch films market during the forecast period. Changing lifestyle and growing disposable income are the two important factors that will directly affect the demand for packed food, which in turn, will consequently increase the demand for pouch films. Overall, the global outlook for pouch films market is expected to remain positive during the forecast period.
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Pouch Films Market: Dynamics
With growing inclination of customers towards lightweight, flexible and convenient packaging solutions, the demand for global pouch films is expected to grow during the forecast period. Rise in dependency on ready-to-eat foods owing to busy lifestyle has mobilized the flexible packaging chain to update its product offerings. This is one of the prominent factors adding to the growth of the global pouch films market. With the increase in the number of hypermarkets and supermarkets, a rise in the sales of pouch films has been witnessed. Thus, the global pouch films market is expected to witness positive growth outlook during the forecast period. Despite the positive factors, there are certain factors hindering the growth of the global pouch films market. For instance, any increase in raw material prices, such as polyethylene terephthalate (PET), polypropylene, polyethylene etc., which are required for the manufacturing of pouch films, usually leads to ambiguity in production and thus, negatively affects the pouch films market.
Pouch Films Market: Regional Outlook
The Asia Pacific excluding Japan (APEJ) is likely to dominate the global pouch films market during the forecast period and will account for maximum market share. The rapid growth of ready-to-eat meals segment is expected to create significant demand for pouch films throughout the forecast period. In APEJ, China is expected to remain dominant, in terms of pouch films market share, while India & ASEAN countries are projected to register notable growth during the forecast period. Western Europe is expected to closely follow the APEJ region in terms of pouch films market size during the forecast period. Increase in trade of ready-to-eat meals and other products among the Western European economies is likely to create significant opportunities for pouch films during the forecast period.
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Major economies in Western Europe, such as France, Germany, Spain and the U.K., are expected to register healthy growth in the global pouch films market during the forecast period. North America is a significant shareholder in the global pouch films market and is projected to register healthy growth during the forecast period. The U.S. is expected to be highly attractive in terms of market share while Canada is expected to register high growth rate in the global pouch films market during the forecast period.
Pouch Films Market: Key Players
Some of the leading players operating in the global pouch films market are –
- Multifilm Packaging
- Indu Packaging Daman Ltd,
- Sonoco Products Company