Survey: Liquid pouch packaging market to hit $10.5B by 2024
High flexibility, low weight and easy to carry will remain key properties enhancing product penetration.
The liquid pouch packaging marketsize will exceed $10.5 billion by 2024, according to a research report by Global Market Insights, Inc., Ocean View, Del.
Shifting consumer preference for convenient packing solutions due to demographics and lifestyle dynamics are key trending factors driving liquid packaging demand. High flexibility, low weight and easy to carry will remain key properties enhancing product penetration. Increase in consumer spending on energy drinks and prevalent health awareness trends will also drive growth.
Pillow products accounted for more than 34% of the liquid pouch packaging market share in 2016. Competitive pricing along with strong consumption of dairy products, including milk, curd, yogurt and creams will continue to drive this segment. The global dairy industry will generate revenue over $450 billion by 2024, with China being the major consumer.