The 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:
Sachet packaging refers to small single or multi-serving flexible pouches or bags for small quantities of food, personal care, pharmaceutical and other products. Sachet packaging offers advantages like portability, resealability and affordability which allows consumers to purchase small quantities at affordable prices. Growing demand for on-the-go and portion-controlled food and beverage consumption is a major factor driving growth of sachet packaging market.
Market key trends:
Sachet packaging market is witnessing high growth owing to rising demand for on-the-go consumption. Changing consumer lifestyles and busy schedules have increased demand for convenient and portable packaging. Sachets are ideal for distributing small controlled doses of products and allowing consumers to sample new products. Growing demand from personal care and food & beverage industry is a key trend. Sachets offer ideal solution for consumers to purchase personal care items like shampoo, conditioners and breakfast items like instant coffee, cereals etc. at affordable costs. They are eco-friendly and result in less wastage making them popular especially in emerging markets. Innovation in materials to make sachets multilayer and compatible with new products is another key trend shaping market growth.
Porter’s Analysis
Threat of new entrants: Low capital requirements and availability of used machinery and equipment for setting up sachet packaging operations have reduced entry barriers. However, established brand loyalty and need for wide distribution network pose challenges for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of numerous product options and substitutes. However, specialty products and household items packaged in sachets exert less pressure on prices.
Bargaining power of suppliers: Raw material suppliers hold significant power over sachet packaging manufacturers due to consolidated supply base and reliance on imported raw materials like plastic and paper. Fluctuating raw material costs impact production budgets.
Threat of new substitutes: Alternative flexible packaging formats like pouches, stick packs pose threat. However, sachets effectively meet demand for affordable unit-dose packaging of items across income segments.
Competitive rivalry: Intense competition exists among numerous local and global players due to low product differentiation.
SWOT Analysis
Strengths: Sachet packaging enjoys strong demand for affordable unit-dose packaging. Wide applicability across F&B, personal care and home care industries.
Weaknesses: Susceptibility to raw material price fluctuations. Vulnerable to stringent environmental regulations on plastic waste disposal.
Opportunities: Emerging trends of on-the-go consumption and single-serve packages boost demand. Growth potential in Asia Pacific and Middle East & African markets.
Threats: Substitution threat from flexible pouches and paper-based formats. Stagnant markets in developed regions constrain growth. Strict plastic waste management policies challenge adoption.
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 demand for affordable unit-dose packaging from developing regions of Asia Pacific, Middle East, and Africa. The market size for sachet packaging is expected to reach US$ 10475.75 Mn by 2023.
Regional analysis indicates Asia Pacific as the fastest growing market for sachet packaging. Factors such as rapidly expanding population, rising disposable incomes, and growing consumption of packed food & personal care items are driving the region’s market growth. China dominates Asia Pacific sachet packaging sales, followed by India.
Key players operating in the sachet packaging market are Amcor Limited, Bemis Company, Inc., Constantia, Sonoco Products Company, Huhtamaki Group, Mondi, Sealed Air Corporation, RCP Ranstadt GmbH, and Clondalkin Group. These players are engaged in new product development, mergers & acquisitions and capacity expansions to strengthen their market positions.
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https://www.newsstatix.com/sachet-packaging-market-trends-size-and-share-analysis/
