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Spout Packaging Global market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company's Spout Packaging Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 30, 2024 /EINPresswire / -- The spout packaging market has experienced robust growth in recent years, expanding from $24.47 billion in 2023 to $25.31 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to increasing sales of packaged food products, increasing adoption of spout pouches, growth of food and beverages, increasing demand for beverages and cleaning products, and increasing healthcare and food and beverages.
Strong Future Growth Anticipated
The spout packaging market is projected to continue its strong growth, reaching $34.59 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rising utilization of spout pouches, growing preference for single-serve and compact packaging, an increase due to rapid urbanization, rising ready-to-eat food, packaging demand, and rising flexible package demand.
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Growth Driver Of The Spout Packaging Market
The rising demand for the food and beverage industry is expected to propel the growth of the spout packaging market going forward. The food and beverage industry encompasses businesses involved in producing, processing, distributing, and selling food and drinks. The demand is increasing from food and beverage industry due to growing global population and shifting consumer preferences towards healthier and more convenient food options. Spout packaging in the food and beverage industry enhances convenience, preserves freshness, and ensures efficient storage and transportation of liquid products.
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Major Players And Market Trends
Key players in the spout packaging market include The DOW Chemical Company, Amcor plc, Smurfit Kappa Group, Mondi plc, Sonoco Products Company, Evergreen Packaging, Sealed Air Corporation.
Major companies operating in the spout packaging market are developing innovative recyclable spouted pouches, to meet increasing consumer demand for sustainable packaging solutions. Recyclable spouted pouches are packaging solutions made from materials such as polyethylene or polypropylene that can be recycled after use, aligning with consumer preferences for sustainable packaging.
Segments:
1) By Component: Caps, Film
2) By Closure Type: Screw Cap, Flip Top Cap
3) By Material: Plastic, Aluminum, Paper, Other Materials
4) By Pouch Size: Less Than 200 ML, 200 To 500 ML, 500 To 1,000 ML, More Than 1,000 ML
5) By End User: Food And Beverages, Cosmetics And Personal Care, Automotive, Pharmaceutical, Paints, Soaps And Detergents, Other End Users
Geographical Insights: Europe Leading The Market
Europe was the largest region in the spout packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spout packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Spout Packaging Market Definition
Spout packaging is a type of flexible packaging that includes a built-in spout which allows for easy dispensing of liquids or semi-liquids. It is commonly used for packaging products providing convenience and mess-free dispensing for consumers. The purpose of spout packaging is to improve the functionality and user experience of the packaged product, making it easier to pour or dispense the contents while maintaining freshness and preventing spillage.
Spout Packaging Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Spout Packaging Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on spout packaging market size , spout packaging market drivers and trends, spout packaging market major players, spout packaging competitors' revenues, spout packaging market positioning, and spout packaging market growth across geographies. The spout packaging market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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