Resealable Closures and Spouts Packaging Market Overview
Resealable closures and spouts packaging is the advanced pouches and bag packing technique which is used for storing liquid product such as milk, oil, cream, curd and adhesive. Resealable closures and spouts packaging allows customer to reseal the product; thus, preventing the spillage of product for particular period of time. Food and beverages market are anticipated to grow the market of resealable closures and spouts packaging. It is also used for liquid dispensing owing to its alleged benefits such as more streamline flow.
Market Size and Forecast
The global resealable closures and spouts packaging market is expected to showcase a significant CAGR of 8.2% during the forecasted period 2018-2027. Additionally, the market of food & beverages and consumer goods resealable closures and spouts packaging is riding on the back of numerous factors such as increasing number of adhesives, beverages, and health care products globally and adoption of new technology for the protection of liquid products.
The global market is segmented into raw material, end-user, price range and geography. Moreover, product type is sub-segmented into food, beverages and many others. In addition to this, liquid consumer good segment captured the largest market of overall resealable closures and spouts packaging market in 2017. Apart from this, consumer goods resealable closures and spouts packaging is predicted to show a tremendous growth over the forecast period due to rising adoption of consumer goods among people.
In terms of regional platform, North America is the most prominent regional market of resealable closures and spouts packaging in 2017. North America region is believed to dominate the global resealable closures and spouts packaging market aided by US and Canada. Asia Pacific region has the fastest growing market with listing the CAGR of 11.2%. Asia Pacific accounted for the second largest market of resealable closures and spouts packaging in terms of revenue in 2017. Further, India and China are the major countries augmenting the demand for resealable closures and spouts packaging owing to the advancement in technology and positive growth of the consumer good industry. Europe is expected to showcase significant growth over the forecast period. The major countries witnessing the augmented demand for resealable closures and spouts packaging include Germany, UK, BENELUX and others. Likely, rapid urbanization and changing lifestyle of the population are envisioned to foster the growth of resealable closures and spouts packaging market in Middle East region.
Our in-depth analysis segmented the global resealable closures and spouts packaging market in the following segments:
By Product type
By Material type
By End User
Global resealable closures and spouts packaging market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Mounting sale of resealable closure and spout packaging across the globe leaves a commendable impression on the people’s mind and their buying behavior. Increasing demand for consumer goods is expected to positively drive the growth of the market. These packaging products prevent safety of the product. Growing demand for resealable closure and spouts packaging is also getting traction from food and beverage sector, cosmetics and personal care, and healthcare and toiletries product manufacturing companies. The resealable closures and spouts packaging enhances the product flexibility which is also fuelling the growth of the global resealable closures and spouts packaging market. Moreover, increasing adoption of portable electronic goods is expected to boost up the sale of mobile resealable closures and spouts packaging. Factors such as ease of availability, continuous improvement, and attractive looks are believed to attract more customers and positively impact the growth of market. Packaging market is highly competitive, which in turn, influences the manufacturers to develop innovative products. Major manufacturers are focusing on the size, shape and design of portable resealable closures and spouts bags which can be easily taken away from one place to another. Resealable closure and spouts are witnessing high demand in the food and beverage sector, cosmetic and personal care, healthcare & toiletries products.
In contrast, high cost associated with resealable closures and spouts packaging is the biggest challenge which is anticipated the limit the growth of resealable closures and spouts packaging market in the near future. Government regulations that ban the use of plastic are also a restraining factor for the global resealable closures and spouts packaging market. Since a large amount of plastic is used for manufacturing, increasing emphasis on the use of bio plastics is a key trend prevailing in the global resealable closures and spouts packaging market.
Scope and Context
Overview of the Parent Market
The global resealable closures and spouts packaging market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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