High-barrier pouch market to exceed $2.5 billion by 2024: report

Driven by growing consumption of packed and retort food, the global high-barrier pouch market will exceed $2.5 billion by 2024, according to a report from Global Market Insights (GMI).

Key drivers of growth include a shift in manufacturer focus toward packaging as a promotional tool rather than just protective packaging has enhanced the high-barrier pouch market size, the report said, and innovations in packaging design to attract customers without compromising quality.

“Changing lifestyles and increasing disposable income, particularly in developing countries, contributed to growth,” the report said. “Technological advances in product design to prevent loss of moisture and retain product freshness are major factors fueling product demand. Also, reduced packaging material usage and lower storage and handling costs will drive the high-barrier pouches market.”

Regulatory compliance along with the emergence of food-grade materials has enhanced the high-barrier pouches demand, the report also said, but stringent regulations on emissions along with increasing concerns about plastic waste may constrain growth.

The standup pouches market, valued by GMI at more than US$650 million in 2016, is forecast to have a value of more than US$1 billion by 2024. “Convenience in storage and transportation, enhanced shelf appearance, and improved protection of packaged contents are all contributing factors,” the report said. “Excellent resistance against gases and water vapour has stimulated product scope in several applications including pet food, industrial, food and beverages.”

Spouted pouch packaging is the fastest growing segment, the report said, with a compound annual growth rate above 6% through 2024. Advantages include ease in handling, mess-free consumption and ready-to-pour convenience.

Polyethylene high-barrier pouches market accounted for more than 25% of overall industry share in 2016. “Contributing aspects include excellent water- and chemical-resistance along with tensile strength,” the report said. “Rising demand from homecare, personal care and industrial applications will boost demand.”

Industrial applications will see gains 5%+ to 2024 due to increasing penetration of standup and spouted packaging for paints, coatings, lubricants and oils.

Europe’s high-barrier packaging market will be worth more than $1 billion by 2024 due to changing income trends along with an improving standard of living. “A strong outlook in the pharmaceutical sector has enhanced product penetration owing to its heat resistance, acid resistance and greater shelf-life properties,” the report said.

In North America, meanwhile, revenue in the high-barrier pouches market will see gains of approximately 6.5% to 2024 resulting from a shift in consumer preference toward a liquid diet due to increasing health consciousness.