Key Players Offer Innovative Confectionery Flexible Packaging Solutions to Drive the Business of Confectionery Brands and Manufacturers. The United States confectionery flexible packaging industry is being propelled at a CAGR of 2.1% over the forecast period. Growing demand for on-the-go packaging for confectionery, including chocolates, gums, mints, etc. is enhancing the regional market's share.
NEWARK, DE / ACCESSWIRE / July 16, 2024 / The confectionery flexible packaging market value is expected to rise from USD 9.8 billion in 2024 to USD 13.2 billion by 2034. This market is analyzed to surge ahead at a CAGR of 3.10% over the next decade.
The "on-the-go snacking" concept is being increasingly adopted by consumers, especially those who inhabit urban spaces. This trend has kicked in the sales of smaller pack sizes, which the consumers purchase to portion control and monitor their calorie consumption.
Key players are contributing to this trend by offering small-sized packages with higher functionality, sustainability, and convenience. These efforts are expected to draw in the younger population who increasingly purchase snacks that are conveniently packaged and reflect their values surrounding sustainability.
Confectionery players further continuously release new products with varied flavors and textures, which continues the demand for flexible packaging. Equipped with a distinguished portfolio of packaging and paper products, market players are expected to work with manufacturers and brands to meet their packaging needs.
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"Key players are releasing new designs in confectionery flexible packaging solutions to equip confectionery players with festive season packaging solutions. Additionally, players are investing in sustainable packaging solutions to resonate with eco-conscious consumers," says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Confectionery Flexible Packaging Market Report:
The confectionery flexible packaging industry value increased from USD 8.7 billion in 2018 to USD 9.5 billion in 2023. During the historical period, the market registered a growth rate of 1.70%.
Based on product type, the films and wraps segment is anticipated to account for 30.4% in 2024.
By applications, the biscuits segment is projected to record a share of 32.6% in 2024.
In North America, the demand for confectionery flexible packaging is going to be relatively higher in Canada, as the market in the United States becomes mature.
In Europe, the United Kingdom and France are expected to observe some movement in the upcoming years.
Growth trajectory in the Asian countries is projected to be higher than in developed regions, the reason being higher consumption of confectionery items and greater population base in these countries.
Strategies that are at the heart of Confectionery Flexible Packaging Producers:
Key players focus on mergers and acquisitions as their default strategic move to manoeuvre the global market. Companies in this field are offering sustainable, paper-based packaging that helps confectionery and candy brands find a sweet spot among their eco-conscious customers.
Players are providing cutting-edge decorative technologies and high-end finishes to lure their customers with their product offerings. Apart from this, the seasonal changes in the candy aisle invokes thoughtful value chain management by players and changes in packaging designs to encourage their customers to quickly purchase confectionary product packed for holiday or festive season.
Enlisted Below are Some Top Market Players:
WestRock Company
DS Smith plc
Sonoco Products Company
Amcor plc
Huhtamaki Oyj
Constantia Flexibles Group GmbH
Ahlstrom-Munksjö Oyj
Bomarko Inc.
Printpack Inc.
Stanpac Inc.
Others
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Power-packed Developments in Confectionery Flexible Packaging Industry:
Italian Cama group announced that it will exhibit technologically progressive confectionery packaging machinery at the event IPACK-IMA 2022. This event is known to act as a catalyzer for the technological revolution in packaging.
Amcor plc is changing the customer perception of confectionery packaging by creating paper-based packaging solutions for the same market in January 2022.
Global Confectionery Flexible Packaging Market by Categories:
By Product Type:
Films and Wraps
Pouches
Sachets and Stick Packs
Tubes
Laminates
By Material Type:
-
Plastics
PE
PP
PET
PVC
PA
EVOH
-
Bioplastics
PLA
PHA
Starch Based Plastic
Cellulose Fibers
Other Plastics
Paper
By Application:
Chocolate
Candy and Toffees
Gum
Jelly
Snack Bars
Biscuits
Rest of Others
Different Regional Markets are as follows:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
Have a Look at Related Research Reports on the Packaging Domain:
The multi-sensory effect on confectionery packaging leads to impulse purchases which have a positive impact on the confectionery packaging market. Overall, the surge in demand for different confectionery such as chocolate confectionery and sugar confectionery boosts the demand for confectionery packaging.
Businesses can invest in R&D to develop eco-friendly materials for flexible packaging paper, capitalizing on the growing demand for sustainability. By creating compostable and biodegradable substitutes for conventional plastics, businesses can stand out from the competition, attract environmentally sensitive customers.
The global rise in demand for user-friendly packaging solutions results in higher demand for converted flexible packaging solutions, as consumers are stimulated to buy convenient packaging solutions over other alternatives.
The advantages of multilayer flexible packaging include increased customer satisfaction and shelf life. Nowadays, packaging films have between 3 and 12 layers. Since they are created by a multilayer coextrusion technique, these multilayer flexible packaging films are recognized as co-extruded films.
Consumers get intrigued by product packaging and labels. Brands in the wine industry are thus increasing their efforts to emphasize customer-centric messages and brand image in wine packaging solutions. Players are also using marketing tools like point-of-purchase displays to capture consumer attention among similar products from competitors.
Significant growth of the pharmaceutical sector, fueled by scientific and technological breakthroughs, serves as a primary catalyst for expansion of the medical packaging sector. Anticipated continuation of this trend is foreseen throughout the projected time frame.
The rise in demand for ready-made canned foods and off-seasonal food products are the key factors driving the growth of the global canned food packaging market. Canning food products are cost-effective for preserving perishable goods with minimal flavor change.
Customers' demand for convenient packaging options is driving growth in the global food and beverage packaging market. The tea packaging industry is one of the most competitive and arduous markets in terms of both product and packaging.
In forthcoming years, antimicrobial packaging ingredients for food packaging systems are expected to gain prominence as most new construction sites are already installing the same as a necessity. With the construction industry developing rapidly in developing regions, the demand for antimicrobial packaging ingredients for food packaging is expected to rise.
The global poultry packaging market is set to enjoy a valuation of USD 2.6 billion in 2023, and further expand at a CAGR of 4.0% to reach USD 3.85 billion by the year 2033. Based on the packaging type, the rigid packaging segment is projected to remain the leading packaging segment in the market.
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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