Future Market Insights (FMI), Dubai: According to a study conducted by ESOMAR-certified consulting firm Future Market Insights (FMI), the global sachet packaging market is poised to total US$ 8.7 Bn by the end of 2021. With rising demand for convenient and small-sized packaging solutions across the globe, the market for sachet packaging is set to project a 5.4% of year-on-year (YoY) growth in the year 2021.
Between 2016 and 2020, the market grew at a CAGR of 5%. Driven by low cost, recyclable, customizable, and portability features, sachet packaging is gaining immense traction across end use such as food & beverage, lubricants & solvents, pharmaceuticals, cosmetic and personal care, and industrial. Driven by this, the sachet packing market is estimated to exhibit healthy growth at a CAGR of 5.8% over the forecast period 2021-2031.
Rapidly emerging trends such as 'single-serve dose packaging' and 'buying less, more often' among customers for products such as shampoo, oil, tea, coffee, cream, and others are expected to create lucrative sales opportunities for the market players.
Despite the intolerance for use of plastic, plastic is the most preferred material type used for sachet packaging. Due to its cost-effective, flexible, and durability characteristics, it is highly accepted among manufacturers for a wide range of applications.
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"While scrutiny on the industry-wide applications of plastic for packaging continues to influence expansion strategies of manufacturers, some of the market players are shifting their focus to other, non-plastic, bio-degradable, and recyclable raw materials, such as aluminum foil," says the FMI analyst.
Key Takeaways from FMI's Sachet Packing Market Analysis
- The U.S. is estimated to contribute maximum sales in the North America market, driving the regional growth at a CAGR of 3.7% during the assessment period.
- In Europe sachet packing market, the U.K. is forecast to account for a subsequent share owing to the high presence of established players in the country.
- China is anticipated to emerge as the most ruminative market, supported by increasing disposable income and the presence of significant consumer base.
- The market in India is projected to witness rapid growth in the forecast period, on the back of increasing demand for one-serve products such as shampoo, hair oil, coffee, sauces, and others.
- South Korea and Japan are predicted to account for 8% and 15% of the market share value of East Asia, respectively.
- Surging demand for small-sized and convenient packaging solutions is fueling the sales of sachet packing.
- Increasing application across end use industries is fueling the demand for sachet packing.
- Rising trend of single serve and growing disposable income among middle-class consumer is driving the market growth.
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The sachet packaging is highly fragmented and competitive in nature due to the presence of large number of players in the landscape. As per FMI, the top five players are likely to account for about10% to 15%of the global market share in 2021.
Leading companies in market are emphasizing on adopting organic growth strategies such as product launches and product approvals. Some of the players are also engaging into collaborations and mergers and acquisitions to gain a competitive edge over other players. For instance,
- In July 2021, Unilever, a British multinational consumer goods company announced collaboration with a British multinational packaging and paper group Mondi to developed aluminium-free, recyclable paper-based packaging for Colman's sauces and meal maker range.
- In June 2021, Amcor, a leading packaging company, announced introducing high barrier plastic sachet for packaging powered chocolate in Columbia. It is specially designed to reduce carbon footprint and protect the powered chocolate from ambient humidity.
Some of the leading players operating in the sachet packaging market profiled by FMI are:
- Glenroy Inc.
- Amcor Plc
- Constantia Flexibles Group GmbH
- Huhtamaki Oyj
- ProAmpac LLC
- AE Adams (Henfield) Ltd.
- Paharpur 3P
- RCP Ranstadt GmbH
- Sharp Packaging Services
- Sealed Air Corporation
- Mondi Plc
- Clondalkin Group Holdings B.V.
- Printpack Inc.
- Lindopharm GmbH
- American Packaging Corporation
More Valuable Insights on Sachet Packaging Market Report
The latest market study on the sachet packaging market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global sachet packaging market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
By Material Type
- Aluminum Foil
By Pack Size
- 1 ml - 10 ml
- 11 ml - 20 ml
- 21 ml - 30 ml
- Above 30 ml
By Packaging Machinery
- Vertical Form-fill-seal Machines (VFFS)
- Horizontal Form-fill-seal Machines (VFFS)
- Sauces & Jams
- Spice & Condiments
- Tea & Coffee
- Personal Care & Cosmetics
- Shampoo & Conditioners
- Face packs & Gel
- Hair Oil
- Sealants & Adhesives
- Lubricants & Solvents
- Other Applications
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
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Key Questions Covered in Sachet Packaging Market Report
- The report offers detailed insights into sachet packaging market demand outlook for 2021-2031
- The market study also highlights projected sales growth for sachet packaging market between 2021 and 2031
- Sachet packaging market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Sachet packaging market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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