The global pouches market is projected to grow from USD 36.4 billion in 2019 to USD 46.1 billion by 2024, recording a CAGR of 4.8% during the forecast period. The rising demand for packaged food & beverages is projected to drive the pouches market.
The aesthetic appeal and cost-effectiveness of pouches are further projected to drive the growth of the market. Furthermore, the growing popularity of pouches for alcohol packaging is creating growth opportunities for the global pouches market.
The global pouches market is dominated by key players such as Amcor (Australia), Smurfit Kappa (Ireland), Mondi (Austria), Berry Global Inc. (US), and Sonoco (US).
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These players have adopted various growth strategies, such as expansions, investments, new product launches, acquisitions, mergers, partnerships, agreements, and joint ventures, to increase their market shares and enhance their product portfolios.
The strategies of acquisitions & mergers accounted for the largest share of all the strategic developments that took place in the global pouches market between 2015 and 2019.
Key players such as Amcor (Australia), Smurfit Kappa (Ireland), Mondi (Austria), Berry Global Inc. (US), Sonoco (US), Sealed Air (US), Huhtamaki (Finland), Constantia Flexibles (Austria), Coveris (Austria), Clondalkin Group (Netherlands), Goglio SpA (Italy), KOROZO (Turkey), ProAmpac (US), Gualapack S.p.A. (Italy), and DaklaPack (Netherlands) adopted these strategies to expand their business portfolios and enhance their market presence in the pouches market.
Smurfit Kappa (Ireland) is a leading manufacturer and supplier of paper-based packaging solutions and offers various pouches under its brand name, Pouch-Up. Through its pouches product portfolio, it offers packaging solutions for applications in dairy, beverages, fruit & vegetable, and wine packaging.
Manufacturing facilities of the company and its diverse product portfolio have strengthened its position in the packaging market. Moreover, the company’s subsidiaries are mainly engaged in the R&D activities for providing innovative and improved products, which are projected to leverage the product leadership position of the company and expand its brand presence.
The company is focusing on expanding its manufacturing footprints across regions, which gives it a competitive advantage. Amcor (Australia) is one of the key manufacturers in the market, and designs highly versatile pouches that are innovative, available with a one-way integrated valve, and offer ease of disposal.
The company mainly focuses on developing innovative products, which has helped it to establish a leadership position. Its focus on the acquisition of value-creating companies is projected to contribute to the market growth in the developing countries. The company increased its productivity by investing in new facilities and acquiring companies such as Nampak Flexibles (South Africa), Hebei Qite Packing Co. Ltd. (China), Alusa S.A. (Chile), and Packaging India Private Limited (India). With its recent acquisition initiative of Bemis Company Inc. (US), the company is projected to lead in the consumer packaging market.
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