In terms of revenue, the Global Sachet Packaging Market is expected to reach USD 11.7 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 5.00% from 2022 to 2028.
In recent years, the packaging industry has been increasing owing to the high demand for packaged fresh food and food products. Rising expectations of consumer and retailer, price constraints, and more stringent regulatory demands is the primary factor driving the market. Also, the growth of convenience packaging in the food industry is a primary driver fueling the market growth. These are some of the significant factors in promoting the Sachet Packaging Market.
Key Highlights from Report:
- The Plastics sub-segment of the Material Type segment is anticipated to dominate the Sachet Packaging Market. This dominance is the most common Material Type as it includes major packaging products. This category is widely accepted and used owing to its special properties relevant for sachet packaging.
- The Personal Care & Cosmetics sub-segment, of the Application segment, accounted for the largest market share in 2021 for the Sachet Packaging Market. Personal Care & Cosmetics products are mostly preferred by the consumer when purchasing. These products need to be correctly packed and have no flaws. Thus, this sub-segment is anticipated to have a huge demand in the coming years.
- Asia Pacific is the largest regional segment. This surge is attributed to the increasing demand for sachet packaging in developing economies such as China & India. This region has an increasing number of manufacturing players of Sachet Packaging products.
Sachet packaging is a substantial part of the ever-growing food industry. Packaging is a complex process, and diversifying fresh foods such as fish, meat and meat products, fruits, and vegetables requires different materials and containers. Proper design and adoption of a fresh food package extends the shelf life of the food and is convenient for the users, thus saving material costs regarding wastage. In addition, the packaging materials utilized for glass, polymers, metals, and paperboards, along with their combinations. The utilization of different materials is decided as per the shelf life of the food, the chemical composition of the food, and the value of the product that is to be packed.
Players operating in the Sachet Packaging Market are increasing their budgets for Research and Development (R&D) projects to develop innovative and delectable products. These efforts are helping enterprises in attracting their target customers and boost their sales numbers. Moreover, leading enterprises in the market are seen focusing on the study of different commercial processing technology for packaging.
Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) in the coming years owing to the high demand for fresh food packaging products in the retailer sector. Countries such as the U.S. & Canada are the most developed countries in the field of packaging technology. These are a few of the reasons is expected to grow in the coming years.