by The global Sachet Packaging Market is estimated to be valued at US$ 10475.75 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The sachet packaging market comprises various products such as aluminum foil sachets, plastic sachets, paper sachets. These sachet packages are used for packaging several consumer goods including food products, personal care products, pharmaceutical products and other consumer goods. Sachet packaging provides affordable and small volume packaging solutions for end-use industries. It enables consumers to try new products at low costs. For companies, sachet packaging helps in brand promotion and new customer acquisition especially in emerging economies.
Market key trends:
One of the key trends in the sachet packaging market is the growing demand from personal care and cosmetics industry. Sachet packaging is ideal for small volume packaging of various personal care products such as shampoos, conditioners, body lotions, face masks etc. This helps consumers to try new products without buying bulk quantities. Major personal care companies are focusing on mini and travel sized sachets to target new customers. Another trend is the increasing use of customized sachet designs with brand messaging and graphics. Companies focus on product differentiation with customized sachet packaging designs to promote brands.
Porter’s Analysis
Threat of new entrants: Low capital requirements and lack of economies of scale give new players opportunities to enter the market. However, the established players have strong brand recognition and distribution networks.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes but switching costs are low.
Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials are commoditized but industry consolidation has reduced supplier options.
Threat of new substitutes: New packaging forms pose a minor threat as sachet packaging remains economical for low unit-price, single-use products.
Competitive rivalry: Intense competition exists among established players to dominate the high-growth emerging nations.
Key Takeaways
The global Sachet Packaging market is expected to witness high growth, exhibiting a CAGR of 6.1% over the forecast period, due to increasing demand for smaller pack sizes from low-income consumers. The market size for 2023 is estimated to be US$ 10475.75 Mn.
Regional analysis: Asia Pacific dominates the global market and is expected to continue its lead, growing at over 6.5% CAGR due to rapid urbanization and rising living standards in developing countries like India and Indonesia. North America and Europe are also lucrative markets driven by demand for single-use and on-the-go packaging.
Key players: Key players operating in the sachet packaging market are Amcor Limited, Bemis Company, Inc., Constantia, Sonoco Products Company, and Huhtamaki Group. These players dominate the market through extensive geographical presence and wide product portfolios catering to different end-use industries like food and beverages, cosmetics, and pharmaceuticals.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
