The global pouches market to grow at a CAGR of 6.12% during the period 2018-2022.
Global Pouches Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The pouches market is fragmented owing to the presence of several international and domestic vendors. The level of competition among the players in this marketspace is intense especially in terms of price, quality, regulatory compliance, and innovation. To attain a competitive advantage over the other players, the vendors are focusing on R&D activities. Additionally, they are also adopting competitive strategies such as product portfolio expansions and cost reduction to establish their market presence.
The latest trend gaining momentum in the market is rising demand for retort pouches. Retort pouches are becoming prevalent as consumers give priority to product freshness in comparison to other aspects while making a grocery purchase. These pouches have ability to withstand thermal processing during sterilization process.
According to the report, one of the major drivers for this market is growing demand from food packaging industry. The food processing industry needs to focus on effective packaging of food to reduce wastage and provide safe and secure packaging solutions. The global food packaging market is expected to grow. Food packaging preserves food from external factors that include chemical influences such as exposure to gases, moisture, and light; and biological influences such as exposure to microorganisms, insects and rodents.