Sachet Packaging Market to Reach $15.5 Bn, Globally, by 2031 at 5.5% CAGR: Allied Market Research
Rise in demand for compact and lightweight packaging in various sectors such as food & beverages and pharmaceuticals drives the growth of the global sachet packaging market.
PORTLAND, Ore., June 7, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Sachet Packaging Market by Material Type (Plastic, Non-Plastic), by Size (1ml - 20ml, 21ml - 30ml, Above 30 ml), by Application (Cosmetic and Personal Care, Food and Beverage, Pharmaceuticals, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global sachet packaging industry generated $9.0 billion in 2021, and is expected to reach $15.5 billion by 2031, witnessing a CAGR of 5.5% from 2022 to 2031.
Drivers, Restraints, and Opportunities
Rise in demand for compact and lightweight packaging in various sectors such as food & beverages and pharmaceuticals and investments by key players for development of eco-friendly & recyclable packaging materials drive the growth of the global sachet packaging market. However, strict government rules regarding usage of non-plastics and fluctuations in the prices of raw material restrain the market growth. On the other hand, surge in the number of retail industries presents new opportunities in the coming years.
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Covid-19 Scenario
- Manufacturing activities of sachet packaging industry stopped partially or completely due to lockdown measures taken place in many countries. Moreover, disruptions in the supply chain and shortage of raw materials presented challenges in carrying out manufacturing with full capacity.
- The demand from end use industries such as cosmetic & personal care, food & beverage, and others lowered significantly due to halt in daily operations during the lockdown. However, the demand is estimated to grow steadily post-lockdown as daily operations begin.
The plastic segment to maintain its leadership status during the forecast period
Based on material type, the plastic segment held the highest market share in 2021, contributing to more than 90% of the global sachet packaging market, and is projected to maintain its leadership status during the forecast period. This is attributed to high acceptance among manufacturers, inclination toward use of recycled plastic in small amounts, and adoption from healthcare and food & beverages sectors for features of plastics such as stiffness, impact resistance, and strength. However, the non-plastic segment is estimated to manifest the largest CAGR of 6.7% from 2022 to 2031, owing to increase in demand for compact and cost-effective packaging solutions in pharmaceuticals, foods & beverages, consumer goods, and personal care products along with rise in demand for compact and lightweight packaging in various sectors.
The cosmetic and personal care segment to maintain its lead position throughout the forecast period
Based on application, the cosmetic and personal care segment contributed the highest market share in 2021, accounting for around half of the global sachet packaging market, and is expected to maintain its lead position throughout the forecast period. This is attributed to the need of adaptable packaging technology and expansion of business and manufacturing plants of cosmetic manufacturers. However, the food and beverage segment is expected to witness the highest CAGR of 6.8% from 2022 to 2031, owing to rise in the demand for food products and the growth of the e-commerce sector globally.
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Asia-Pacific to maintain its dominance in terms of revenue by 2031
Based on region, Asia-Pacific accounted for the highest market share in terms of revenue in 2021, holding nearly two-fifths of the global sachet packaging market, and is expected to maintain its dominance in terms of revenue by 2031. Moreover, this region is estimated to register the fastest CAGR of 7.8% during the forecast period. This is due to surge in demand from emerging economies such as China and India along with the growth of the e-commerce sector in the region that lead to increase in online shopping and food ordering. The research also analyzes regions including North America, Europe, and LAMEA.
Leading Market Players
- Amcor Plc
- ProAmpac Holdings LLC
- constantia flexibles
- Huhtamaki Group
- Sonoco Products Company
- Mondi Group
- Sealed Air
- Coveris
- Clondalkin Group
- Syntegon Technology GmbH
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