In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
The global sachet packaging market is expected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 owing to the growing need for small-sized packets for single-use products, such as, shampoo and moisturizers, sauce, spices, tea & coffee, lubricants, and others. As compared to traditional packaging, sachet packaging is relatively affordable to both manufacturers as well as consumers which attracts low-income communities, which is estimated to boost the market growth. Moreover, sachets are used for sampling and promotional purposes, as these are cost-effective solutions and allows consumers to try the product before buying it in bulk, which is estimated to boost the demand for sachet packaging for sampling of condiments, seasonings, sauces, and healthcare & beauty products.
The global sachet packaging market is segmented by material type into plastic, paper, aluminium foil, and others, out of which, the plastic segment is anticipated to hold the largest share over the forecast period owing to its high acceptance among manufacturers. Features like printability, lightweight, high tensile strength and cost effectiveness of plastic makes it the preferred material choice among various sachet manufacturers. On the basis of Application, the global sachet packaging market is segmented into food, personal care & cosmetics, pharmaceuticals, sealants & adhesives, lubricants & solvents, tobacco, and others. Out of these, the personal care & cosmetics segment is estimated to hold a major market share during the forecast period owing to the high demand for sachets for packaging single-use cosmetic and personal care products. The rising awareness about health and hygiene, along with increasing sanitation concerns has raised the consumption of personal care products among the masses. Moreover, products in sachets are more affordable, which boosts the demand for sachet packaging among the manufacturers of such products, which is projected to drive the global sachet packaging market. CLICK TO DOWNLOAD SAMPLE REPORT
Regionally, the global sachet packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region.
The market in the Asia Pacific is anticipated to hold the largest market share owing to its large manufacturing sector coupled with growing population and an increasing disposable income. The presence of a significant consumer base in the region has attracted investments from various end-user companies for packaging and distribution of their products, which is estimated to boost the demand for sachet packaging. Moreover, growing trade activities has raised the demand for sample packaging, which is estimated to boost the demand for sachet packaging in the region. The market in the Middle East & Africa and Latin America are estimated to witness modest growth as various companies are targeting the large low-income population in the regions.
The global sachet packaging market is further classified on the basis of region as follows:
Our in-depth analysis of the global sachet packaging market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising demand for single-use product is the major factor driving the market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Rising environmental concerns is one of the factors estimated to hamper the market growth.
The market in Asia Pacific is estimated to garner the largest market share owing to the growing manufacturing sector in the region.
The major players in the market are Constantia Flexibles International GmbH, Huhtamaki Oyj, Sonoco Products Company, Berry Global Inc., Mondi plc, CAMAC Holding B. V., Coveris Management GmbH and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by material type, pack size, packaging machinery, application, and by region.
The plastic segment is anticipated to hold largest market over the forecast period on the back of beneficial features of plastic, such as, lightweight, high tensile strength and low cost.
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