What Is The Scope Of The Global Spout Packaging Market?
Spout packaging is a type of flexible packaging that includes a built-in spout which allows for easy dispensing of liquids or semi-liquids. It is commonly used for packaging products providing convenience and mess-free dispensing for consumers. The purpose of spout packaging is to improve the functionality and user experience of the packaged product, making it easier to pour or dispense the contents while maintaining freshness and preventing spillage.
Spout Packaging Global Market Report 2024 provides data on the global spout packaging market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The spout packaging market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Expected Annual Growth Rates And Market Size Estimates For The Global Spout Packaging Sector?
The spout packaging market has grown strongly, rising from $24.47 billion in 2023 to $25.31 billion in 2024, with a CAGR of 7.8%. Growth drivers include the rising adoption of spout pouches, increasing demand for packaged and ready-to-eat food, and growth in the food and beverage industry. The market is expected to grow to $34.59 billion by 2028, at a CAGR of 8.1%. Factors contributing to this growth include urbanization, demand for flexible packaging, and eco-friendly materials. Trends include technological advancements, innovative designs, and sustainable packaging solutions.
Which Factors Are Boosting Growth In The Spout Packaging Market?
The increasing demand from the food and beverage industry is expected to drive the growth of the spout packaging market. The food and beverage sector, involved in producing and selling food and drinks, is experiencing growth due to a rising global population and shifting consumer preferences toward healthier and more convenient options. Spout packaging in the food and beverage industry offers convenience, helps preserve freshness, and ensures efficient storage and transportation of liquid products. For example, in October 2023, the Government of Canada reported that the export value of processed food and beverages reached a record $54.3 billion in 2022, marking a 14.1% increase from the previous year. Thus, the growing demand from the food and beverage industry is driving the spout packaging market.
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What Key Areas Define The Segmentation Of The Global Spout Packaging Market?
The spout packaging market covered in this report is segmented –
1) By Component: Caps, Film
2) By Closure Type: Screw Cap, Flip Top Cap
3) By Material: Plastic, Aluminium, Paper, Other Materials
4) By Pouch Size: Less Than 200 ML, 200 To 500 ML, 500 To 1,000 ML, More Than 1,000 ML
5) By End User: Food And Beverages, Cosmetics And Personal Care, Automotive, Pharmaceutical, Paints, Soaps And Detergents, Other End Users
How Are Emerging Trends Reshaping The Dynamics Of The Spout Packaging Market?
In response to growing demand for sustainable packaging, companies in the spout packaging market are introducing recyclable spouted pouches made from materials like polyethylene or polypropylene. These pouches are designed to align with circular economy principles. For example, in January 2023, Mespack, a Spain-based packaging equipment manufacturer, collaborated with Hoffer Plastics Corporation, a US-based plastics company, to launch the P-15 spout and cap closure. This monolayer closure uses 20% less plastic than previous designs, is 46% lighter than the P-20 model, and is more recyclable due to its material composition.
Which Region Has The Fastest Expansion In The Spout Packaging Market?
Europe was the largest region in the spout packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spout packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
