According to the new market research report "Flexible Plastic Pouches Market by Material (PE, PP), Type (Flat Pouches, Stand-up Pouches), Application (Food, Beverage) and Region (APAC, North America, Europe, South America, and Middle East & Africa) - Global Forecasts to 2026", published by MarketsandMarkets, the Flexible Plastic Pouches Market size is estimated at USD 53.7 billion in 2021 and is projected to reach $73.5 billion by 2026, at a CAGR of 6.5%.
The Flexible Plastic Pouches Market is witnessing high growth owing to the increase in demand for lightweight, convenient and cost-effective packaging products & solutions for food and beverage applications.
Polyethylene is the Largest Material Segment
The Flexible Plastic Pouches Market is segmented on the basis of material into polyethylene, polypropylene and others. The polyethylene material segment accounted for a larger market share. This is attributed to its unique flow properties such as propensity to stretch when strained, low production costs, high clarity, heat seal-ability, high elongation and softness make it suitable for pouch packaging. Polypropylene is projected to be the fastest growing material segment. This is attributed to its good resistance to almost all types of chemicals, including strong acids, alkalis and most organic materials, and its high melting point makes it a superior material for boilable packages and sterilizable products.
Flat Pouches is the Largest Type Segment
The Flexible Plastic Pouches Market is segmented on the basis of type into flat pouches and stand-up pouches. The flat pouches segment led the market in terms of both value and volume. Its cost-effectiveness and aesthetic display in stores contribute toward its leading share in the Flexible Plastic Pouches Market.
Food is the Largest Application Segment
The Flexible Plastic Pouches Market is segmented on the basis of application into food, beverage and others. Food application segment accounts for largest market share in the market. Its malleability and low weight, along with the protection that it offers against contaminants make pouches an ideal packaging solution for food packaging products, leading to its large market share.
APAC is the Largest Market
The APAC region is projected to be the largest market and to grow at the highest CAGR during the forecast period. Growth in APAC is backed by the increase in disposable income of people in countries such as China and India, growing middle-class population, rise in demand for packaged food, and the growth of the food & beverage industry. Moreover, the growth of the Flexible Plastic Pouches Market in the APAC region is attributed to the higher consumer spending and manufacturing of packaging materials in developing economies, such as China and India. China is projected to be the fastest-growing market across the globe during the forecast period. This is attributed to the population growth in the country, along with the high availability of packaging material coupled with technological development. This directly affects the growth of the Flexible Plastic Pouches Market in the APAC region.
Berry Global Inc. (U.S.), Mondi (UK), Huhtamaki (Finland), Sealed Air Corp. (U.S.), Sonoco Products Company (U.S.), Smurfit Kappa (Ireland), Amcor Plc (Switzerland), GogllioSpA (Italy), Constantia Flexibles (Austria) and ProAmpac (US) are key players in Flexible Plastic Pouches Market.