July 03, 2020
According to the research report titled ‘Global Doypack Market Size study with COVID-19 impact, by Material (PET (Polyethylene Terephthalate), PE (Polyethylene), PP (Polypropylene), EVOH (Ethylene-vinyl Alcohol) and Other material), by Application (Food & Beverage, Home Care, Health Care, Pet Care and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global doypack market accumulated revenues worth USD 21.61 billion in the year 2019 and is expected to grow with a CAGR of 7.50% through 2026.
Notably, doypack, also called as stand-up pouch, is a flexible packaging that stands erect on its bottom for efficient storage or display purpose. It is extensively used for ready-to-drink beverages and for carrying powders and possesses properties of plastic bottle as well as plastic bags. The bottom part of doypacks is gusseted in order to offer support while displaying.
Consumer inclination towards packaged food & beverages along with rising adoption of doypacks in the said industry are major factors driving the market growth. According to Statista, global sale of packaged food accounted for USD 2.47 trillion in the year 2016, which then reached USD 2.64 trillion in 2019. Growing demand for doypacks in other industry verticals such as cosmetic & toiletries and healthcare along with cost-effectiveness of the product is further fueling the market size.
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Additionally, rising prevalence of COVID-19 will create lucrative growth opportunities for doypack market, since the product helps in carrying ready-to-eat consumables and can preserve food for longer time without the risk of contamination. However, strict regulatory scenario regarding packaging materials may act as a restraining factor to the overall market growth.
In terms of material type, global doypack market is split into ethylene-vinyl alcohol (EVOH), polypropylene (PP), polyethylene (PE), polyethylene terephthalate (PET) and others. Elaborating on the application scope, the market is divided into pet care, healthcare, home care, food & beverage and other.
Considering the geographical landscape, doypack market share in North America is expected to grow significantly during the forecast period, primarily due to growing demand for convenience food products. On the other hand, Asia-Pacific market is also slated to record healthy growth in the ensuing years. Flourishing food & beverage industries are complementing the business outlook in the region.
Bemis Co. Inc., Clondalkin Group Holdings BV, Winpak Ltd., ProAmpac LLC, Swiss PAC USA, Smurfit Kappa Group Plc., Sonoco Products Co., Sealed Air Corp., Mondi Plc and Amcor Plc are the major contenders in global doypack market.