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Convenience Closure and Fitment Innovations on Pouches Drive Growth in Converted Flexible Packaginga
May 20, 2019 (Investorideas.com Newswire) Demand for pouches is expected to grow 3.7% per year to $10.6 billion by 2023. Pouch design continues to evolve and now is expanding to include convenience-focused closure and fitment innovations that were once only available on rigid packaging. Examples include:
- flip-top caps to dispense condiments in pouches, for instance
- fitments to attach a spray trigger on cleaning chemicals in pouches
Features offering convenience, such as resealability, spouts, and stick packs, will see the fastest growth in their integration. Features primarily for functionality or aesthetics will see a more moderate rate of uptake.
More information about the study is here:https://www.freedoniagroup.com/industry-study/converted-flexible-packaging-3731.htm
In general, pouches - particularly stand-up types - will continue to provide:
- cost savings compared to rigid containers
- amenability to high-quality graphics
- the perception of a more contemporary packaging format
The snack market is the largest outlet for pouches, as they have capitalized on both the healthy eating and snacking trend. Pouches provide effective means to package single-portion quantities of product, whether the small amount is desired for nutritional or convenience reasons.
Demand for all types of converted flexible packaging is forecast to increase 2.9% annually to $22.8 billion in 2023. The ongoing conversion from rigid to flexible formats and consumer interest in products packaged for single servings or uses will continue to drive gains.
Converted Flexible Packaging (published 04/2019, 266 pages) is available for $5600 from The Freedonia Group. Please link citations tohttps://www.freedoniagroup.com/Converted-Flexible-Packaging.html
About The Freedonia Group, a division of MarketResearch.com - The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. The Packaging studies page is here:https://www.freedoniagroup.com/industry-category/pack/packaging.htm .
Contact
Corinne Gangloff
Media Relations
The Freedonia Group
Cleveland, OH
+1 440.684.9600
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