by The Sachet Packaging Market is estimated to be valued at US$ 10475.75 Mn or 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:
Sachet packaging refers to small pre-portioned sealed pouches made up of aluminum foil, plastic films, and paper that are used to package minute quantities of products such as personal care items, food condiments, and beverages. Sachets are filled with the required quantity at source and then sealed efficiently to protect the product inside for longer shelf life. They provide convenience to consumers to use products on-the-go and experiment new offerings cost-effectively. They also help firms in reducing wastage from partial-usage and unsold stock.
Market Dynamics:
Increasing penetration of small pack retailing and demand for portable packaging from consumers is a major driver for sachet packaging market growth. Changing lifestyles have led consumers to prefer convenient on-the-go products and sachets aligned well to fulfill such requirements of mobility. Rapid urbanization in developing countries has enhanced disposable incomes that allow buyers to spend more on premium sachet offerings. Furthermore, ease of use, low wastage, and price-effectiveness of sachets help companies in boosting sales by attracting price-sensitive customers. However, lack of adequate collection and processing infrastructure for post-use sachet waste in several regions might hinder the market progress.
Segment Analysis
The sachet packaging market is dominated by the food and beverages segment. The food and beverages segment accounts for more than 50% of the overall sachet packaging market. This is because sachet packaging is highly suitable for packaging sauces, dairy products, edible oils, snacks, and other food items in single-serve or single-use packages. The affordability and accessibility of sachets make them ideal forPACKaging condiments and other consumables in rural and price-sensitive areas.
PEST Analysis
Political: Any changes in import/export policies and regulations governing plastic packaging usage could impact the sachet packaging market. However, currently there are no significant political risks.
Economic: The growing disposable incomes and spending power in developing nations is driving the demand for affordable and accessible packages of daily consumption products. This augurs well for the sachet packaging market.
Social: Rising health awareness is forcing manufacturers to provide nutrition information and ingredient lists on sachet packs. However, the affordability aspect continues to ensure sachet packaging remains popular.
Technological: Advances in packaging films allow manufacturers to make sachet packs multi-layered with varied material composition offering improved barrier properties. Metallization and downgauging of films have boosted efficacy.
Key Takeaways
The global Sachet Packaging Market Size is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing urbanization and demand for affordable packaging from price-sensitive consumers in developing countries.
The Asia Pacific region dominates the global sachet packaging market with a share of over 40%. burgeoning population, rising disposable incomes, and increasing purchases of packaged food & beverages are promoting sachet sales. China, India, and other Southeast Asian nations account for maximum demand.
Key players operating in the sachet packaging market include Amcor Limited, Bemis Company, Inc., Constantia, Sonoco Products Company, Huhtamaki Group, Mondi, Sealed Air Corporation, RCP Ranstadt GmbH, and Clondalkin Group. Leading companies are focusing on capacity expansions, new product development and mergers/acquisitions to strengthen their market position. For example, Sonoco Products Company has invested in expanding flexible packaging capabilities in emerging markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
