The high-barrier pouch market is estimated to exceed $2.5 billion by 2024 according to a new research report by Global Market Insights, Inc.
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.
Rising consumption of packaged beverages, particularly among millennials, is another major factor driving industry demand. Increasing product adoption in pharmaceuticals, personal care and homecare, and pet food will propel the product demand. Moreover, product innovations in add-ons including fitments, spouts, zippers and sliders will drive the business growth.
Spouted pouch packaging is the fastest growing segment, with CAGR over 6 percent by 2024.
To see the full report, click here.