Stand-up pouch valves market to witness a two-fold growth in the revenue by 2024, food and beverages sector to drive the application landscape
With consumer product acceptance levels dependent prominently on innovative packaging, stand-up pouch valves market has been witnessing a commendable upsurge in recent years. It has been observed that major players in stand-up pouch valves industry are continuously developing ideal packaging solutions in order to consolidate their position in the business and challenge the core players of the packaging domain. The evolution of various new packaging technologies such as flexible packaging have been remarkably enhancing stand-up pouch valves market share, owing to the escalating product usage for beverage packaging. In addition, the rapidly growing food and beverage industry will also have a considerable impact on stand-up pouch valves market trends. Indeed, the surging expansion of the food and beverage sector has led to an increase in the requirement for innovative packaging solutions. Thus, the rising popularity of extensive packaging solutions have generated lucrative opportunities for biggies in stand-up pouch valves industry in terms of innovations and product design.
Central & South America Stand-Up Pouch Valves Market, By End-Use, 2016 & 2024, (USD Million)
Most participants in stand-up pouch valves market are looking forward to investing in advanced and efficient machine solutions. In fact, several packaging producers have already installed machine-based packaging facilities in order to fulfill the growing product demand. For instance, the U.S. based Glenroy Inc., recently developed a new packaging solution for sauces, jams, and honey. In another instance, the world’s largest retailer, Kroger has invested USD 19.2 million to renovate and expand its soup production plant at Kenosha. Through this plant, it would produce 50 million pounds of soup per annum. The escalating investments in the expansion of food production facilities across North America is thus slated to boost stand-up pouch valves market size over the years ahead. As per estimates, in 2016, the food & beverage sector covered 55% of stand-up pouch spouts industry share.
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With increasing popularity of new-age packaging styles and their notable benefits, many end-user companies are rapidly adopting stand-up pouch valve packaging for their wide range of products, thereby contributing toward the vast expanse of stand-up pouch valves market. Validating the fact is an incidence that recently marked significance in the packaging business. The Duke company used spouted pouch packaging for mayonnaise in order to revolutionize the packaging facility and attract more consumers by providing excellent convenience. In another instance, Jo’s snacks collaborated with the printing ink manufacturing company, Uflex to deploy spouted stand-up pouches for storing cold beverages including juices, iced coffee, and milk. Through this agreement, Uflex is looking forward to designing a new package that can offer a minimum shelf-life of six months for cold beverages, which in consequence would strengthen its stance in stand-up pouch valves industry. Many other companies also seem to be constantly focusing on upgrading packaging technology not only to improve the quality of products but also to attract more consumers. The growing revolution in the packaging sector is thus slated fuel stand-up pouch valves market outlook over the years ahead.
As the cost of raw material and energy has been increasing, pivotal giants in stand-up pouch valves market are investing in research and development activities to develop material saving packaging solutions. Meanwhile, scientists have also been researching on alternative manufacturing methods for greener and cheaper packaging. The increasing environmental consciousness among the masses is likely to have a significant influence on stand-up pouch valves industry size. Regulatory bodies such as the Food and Drug Administration have been deploying strategic initiatives since long to enhance the quality and safety of food, not only for humans but also for the animal populace. In this regard, it has even framed a regulation recently for pet food packaging. The surging deployment of regulatory norms related to food packaging and the extensive technological advancements in packaging are thus certain to propel stand-up pouch valves market share over the years ahead.
Author Name : Sunil Hebbalkar