The global sachet packaging market size stood at USD 7.89 billion in 2021. The market is set to expand from USD 8.30 billion in 2022 to USD 11.97 billion by 2029, exhibiting a CAGR of 5.4% over the estimated period. The rise can be attributed to various products such as tea, hair oil, shampoos, detergents, sauces, coffee, mouth fresheners, and others. This information is provided by Fortune Business Insights™ in its research report, titled “Sachet Packaging Market, 2024-2029”.
Segments:
Plastic Segment to Record Substantial Growth Driven by Extensive Demand from Manufacturers
On the basis of material, the market for sachet packaging is subdivided into plastic, paper, and aluminum foil. Of these, the plastic segment is estimated to register commendable expansion over the forecast period. The surge is being driven by the rising demand from manufacturers on account of various qualities such as lightweight nature, flexibility, strength, and hardness.
1 ml – 10 ml Segment to Register Appreciable Expansion Owing to Soaring Demand for Single-dose Products
On the basis of size, the market is fragmented into 1 ml-10 ml, 11 ml-20 ml, 21 ml-30 ml, and 30 ml and above. The 1 ml – 10 ml segment is set to record substantial growth through the estimated period. The surge can be credited to the escalating product demand in travel packs, single-dose application products, and trial packs.
Personal Care & Cosmetics Segment to Exhibit Notable Growth Due to Ease of Use and Affordability
Based on end-user, the market for sachet packaging is categorized into pharmaceuticals, consumer goods, personal care & cosmetics, and others. The personal care & cosmetics segment is slated to register substantial demand throughout the projected period. The surge can be credited to the escalating deployment of trial packs as a marketing strategy by various manufacturers. On the basis of region, the market is segmented into five regions: Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America.
Drivers and Restraints:
Growing Demand for Convenient Packaging to Impel Industry Expansion
The sachet packaging market growth is majorly being driven by an increase in demand for hygienic, small-size, and convenient packaging. Additional aspect favoring product demand is the rising focus of food manufacturers on sustaining the effect of potential virus outbreaks. However, the industry expansion could be hampered by product shortage and a rapid surge in the supply of raw materials.
Source- https://www.fortunebusinessinsights.com/sachet-packaging-market-105297
Regional Insights:
Asia Pacific to Emerge as Leading Region Driven by Favorable Government Initiatives
The Asia Pacific sachet packaging market share is set to record commendable expansion over the estimated period. The surge can be credited to an increase in the enforcement of favorable government policies in India.
The North America market is estimated to register appreciable growth throughout the forecast period. This is on account of a large retail sector and the escalating demand from various end-use industries.
Competitive Landscape:
Leading Industry Participants Launch New Products to Secure Competitive Edge
Major market players are focused on the adoption of strategic steps such as acquisitions, mergers, and the development of new products to strengthen their industry position. Several are also entering partnership agreements and collaborations to expand their product reach.
List of Key Players Mentioned in the Report:
Amcor (Australia)
Sonoco Products Company (U.S.)
Huhtamaki (Finland)
Constantia Flexible Group GmbH (Austria)
Mondi (U.K.)
Clondalkin Group (Netherlands)
ProAmpac (U.S.)
Coveris (Austria)
Paharpur 3p (India)
Amber Packaging Industries LLC (UAE)
Unico ITC dba (U.S.)
Glenroy Inc. (U.S.)
Key Industry Development:
February 2022 – JP Packaging LLC rolled out an eco-friendly sachet film alternative for personal care formulations and liquid cosmetics such as skincare and hair care products.