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Albany, New York, May 07, 2019 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) estimates, the stand-up pouches market to be highly competitive in their study. The key players in the market are facing cutthroat competition due to the presence of a large number of players in the market. Further, growing demand for the stand-up pouches coupled with widening its usage across numerous industries for its recyclability and eco-friendly nature are propelling its demand across numerous industries. The industries such as food & beverages, pet food packaging, and baby food packaging are pushing the demand for the stand-up pouches.
Thanks to these applications, the market is expected to swell with a CAGR of 5.4% over the forecast period 2018 to 2026, analysts at TMR estimated. Regionally, the Asia Pacific dominated the global stand-up pouches market in 2017 by holding more than 33% of the overall shares in the year 2017.
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Demand for Effective Packaging to Propel Stand-Up Pouches Market’s Growth
Growing disposable income and rapidly changing eating habits are leading to boost consumption of processed and packaged food & beverages. Additionally, the stand-up pouches are proved to be most suitable for liquid or semi-liquid packaging as the beverages owing to their good packaging properties. Thus, manufacturers are increasingly preferring stand-up pouches over metal cans. This rising trend of using stand-up pouches for packaging is expected to remain the same over the next few years. On the back of these factors, the stand-up pouches market is witnessing the highest growth.
Additionally, this is not only the cheaper option but also easily available than the alternatives, which makes them a perfect choice for food and beverages packaging. Further, it is easily degradable; however, it requires a large place and a longer time to complete the degradation process. Additionally, the lamination of the stand-up pouches takes longer time, which increases its production cost and duration. These factors are restraining growth of the market to some extent.
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Nevertheless, the customizable shape and sizes due to the materials such as aluminum and plastic help to keep the transportation cost minimum. Additionally, some advancements such as zipper and locks are enhancing its ease of using the pouches. The above-mentioned factors are expected to offer lucrative opportunities for growth of the market in the coming years.
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