Attending PACK EXPO International next week? Stop by Glenroy’s Booth #S-4044 to try out the new premade STANDCAP Pouch. You’ll see firsthand why this package allowed a leading brand to charge 25% more per oz. while generating a 69.7% increase in sales.
At 92 million strong, the millennial generation is the largest in U.S history. Currently holding over $600 billion in annual purchasing power, millennials’ buying power is predicted to reach $1.4 trillion annually by 2020 and $11.3 trillion by 2030.
Like it or not, millennials are taking over the joint.
More and more brands are making the switch from rigid to flexible packaging every day. According to a recent report by Knowledge Sourcing Intelligence, the North American flexible packaging market was worth $30 billion in 2015 and is expected to be valued at nearly $34 billion by 2021. Some reasons attributed to the growth of flexible packaging include:
Stand-up pouches are one of the fastest growing packaging formats, with stand-up pouch usage projected to grow by 7% each year through 2018. Thanks to advances in flexible packaging materials, fitments, and filling equipment, many products once limited to rigid packaging are now excellent candidates for pouches.