As per Global Market Insights, Inc., stand-up pouch valves industry size was pegged at $ 450 million in 2016. Global stand-up pouch valves market stands as one of the principal spheres of the packaging domain, having scored an edge over other verticals on account of its mass popularity among consumers. With the F&B and personal care sectors witnessing a humongous expansion by the day, the demand for high-grade, multifunctional, and advanced packaging products is on a robust incline.
In consequence, this has prompted companies to manufacture tailored packaging products to suit the requirements of the end-use domains, providing them a plethora of opportunities to consolidate their stance in the packaging business. Stand-up pouch valves market is predisposed to be the aftermath of this demand and has been steadily growing since the last few years, the rate of which can be catered to the shifting trends in consumer lifestyles and the rising expenditure on packaged goods.
One of the most iconic factors contributing toward this valuation is the steady stream of technologically advanced products that have been foraying in stand-up pouch valves market. With rising energy needs and raw material costs soaring through the roof, F&B manufacturers have had to work hard to change their production strategies and come up with customized packaging products to fit in with the slew of novel snacks.
Say for instance, just recently, ProAmpac, one of the largest players in flexible packaging market, had been awarded WPO’s (World Packaging Organization) 2017 WorldStar food-category award for having developed a flexible, stand-up food pouch incorporated with a special de-gassing valve. The design of the product was also inclusive of a clean, easy-to-operate opening, crisp graphics, a back window for product viewing, and a press-to-close zipper, making it one of the most exemplary products in stand-up pouch valves market.
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Stand-up pouches have gained robust traction across the APAC belt, on account of the expanding F&B sector in the region. Since the advent of the new millennium, countries such as India and China have witnessed a massive change in consumer lifestyle and spending capabilities. With this paradigm shift, the emerging economies across APAC have generated the demand for highly qualitative flexible packaging. Driven by the requirement of convenient, cost-effective, and compact packaging solutions, APAC stand-up pouch valves market size is likely to receive a major boost by 2024.
The personal care industry across Asia Pacific has also witnessed a major shift in the last decade or so. As the entertainment sector continues to receive momentum across countries such as India, South Korea, Australia, China, etc., the demand for cosmetics and personal care products is bound to increase. Furthermore, bio-based cosmetics and make-up products have been liable for generating a separate growth avenue for stand-up pouch valves industry. Indeed, consumers have been increasingly preferring highly durable, multifunctional, specialty packaging for cosmetics. This has led to companies innovating unique products for the personal care space, impelling APAC stand-up pouch valves market share.
Stand-up pouch valves industry is characterized by major R&D programs that are carried out to bring forth an ingenious product range. In order to deal with exorbitant costs and cater to the environmentally conscious consumer base, companies in stand-up pouch valves market have been rapidly experimenting with highly efficient manufacturing techniques and state-of-the-art packaging styles. Aligning themselves with the ongoing trend of sustainability, scientists have also been looking out for green alternatives. By 2024, stand-up pouch valves industry share is anticipated to cross $ 900 million, claims a report by Global Market Insights, Inc.
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