Sachet packaging involves small-volume flexible plastic or paper packaging for individual portions of goods like condiments, shampoo, pet-food, alcohol or other liquid products. These small packets or pouches are finding increasing usage in food and beverages, personal care, homecare and pharmaceutical industries. Sachets or polypacks offer manufacturers an affordable and consumer-friendly option for goods with high per unit costs or small sales volumes. They provide a measured dose or quantity sufficient for a single use in hygienic sealed packaging. The global sachet packaging market has seen a surge in demand as thousands of Small and Medium Enterprises engaged in industries like food processing, cosmetics, and pharmaceuticals are leveraging sachets as an ideal format for affordable volumes.
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 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing pharmaceutical industry is expected to drive the sachet packaging market over the forecast period. According to Indian Brand Equity Foundation (IBEF), India's pharmaceutical industry is expected to grow at a CAGR of 22.4% to reach US$ 120 billion by 2020 from US$ 33 billion in 2020. Rise in chronic and lifestyle-related diseases and increasing healthcare expenditures are fueling pharmaceutical sales globally. Sachets are ideal for dispensing medicines like cough syrups, antibiotics, painkillers and other active pharmaceutical ingredients. They facilitate accurate dosing, improve compliance and prevent waste while making drugs affordable to low-income households. The smaller pack size also allows pharmaceutical manufacturers to effectively sample new drugs, expand reach in rural areas and cater to niche medical conditions. With the pharmaceutical industry projected to grow at a steady pace, sachet packaging demand is forecast to flourish over the coming years.
Segment Analysis
The global sachet packaging market is dominated by the food and beverage sub-segment, which holds around 60% share of the market. This is because sachet packaging is highly used for food condiments and sauces as well as beverages. The small quantity in sachet packaging makes it affordable as well as travel-friendly for customers especially for condiments, sauce etc. Another fast growing sub-segment is personal care and cosmetics, which uses sachet packages for distributing trial packages of products.
PEST Analysis
Political: There are no major regulations impacting sachet packaging market. However, some countries have introduced regulations on plastic usage which can hamper market growth to some extent.
Economic: The global economic growth as well as rising disposable incomes in developing countries is fueling market expansion. Sachet packages make products affordable for price sensitive customers.
Social: Changing consumer lifestyles and busy schedules are increasing the demand for convenient packaging formats like sachets. Moreover, sachets help companies in sampling of new products.
Technological: Manufacturers are focusing on developing innovative packaging designs, materials and structures to improve product visibility, ease of use and ensure freshness. Some companies are also exploring biodegradable packaging materials.
Key Takeaways
The Global Sachet Packaging Market Demand is expected to witness high growth. 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 4.6% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the market and is expected to continue its lead, with India and China being the major markets. This is attributed to rising disposable incomes, growing FMCG industry and changing consumer habits in the region. The Europe region is also expected to showcase notable growth in sachet packaging market during the forecast period driven by growing demand from food and personal care products in countries like Germany, UK, France etc. Moreover, manufacturers in Europe are focusing on production of biodegradable sachet packages using materials like polyvinyl alcohol films.
Key players operating in the sachet packaging market are Fluorsid, Canada Fluorspar, China Kings Resources Group Co. Ltd, Kenya Fluorspar, Koura, Masan Resources, MINCHEM IMPEX India Private Limited, Minersa Group, Mongolrostsvetmet LLC, RUSAL, Sallies Ltd, Steyuan Mineral Resources Group Ltd, and Seaforth Mineral & Ore Co.
Key players are focused on adopting advanced technologies to develop innovative packaging solutions with improved features. For instance, certain players offer sachet packages with laser cut windows for better product visibility. Manufacturers are also introducing more sustainable packaging materials like bioplastics to follow environmental sustainability trends.
For more details on the report, Read- https://www.pressreleasebulletin.com/sachet-packaging-market-size-and-share/
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