Confectionery Packaging Market to Expand at A CAGR of 3% by 2032 |...

Confectionery Packaging Market to Expand at A CAGR of 3% by 2032

Posted 2023-10-18 05:13:52

125

Market Overview: The global confectionery packaging market had a valuation of USD 10.9 billion in 2022 and is poised to reach USD 14.22 billion by 2032, with a projected rapid compound annual growth rate (CAGR) of 3% throughout the forecast period.

One of the primary drivers of market growth is the increasing global demand for confectionery products, which has created a greater need for innovative and visually appealing packaging solutions. The confectionery sector, encompassing chocolates, candies, gums, and other sweet delights, is experiencing a surge in consumption, driven by evolving consumer preferences, gifting traditions, and indulgence trends.

The convenience packaging trend is also significantly contributing to market growth, with consumers seeking portable, portion-controlled, and resealable packaging options for confectionery items. Manufacturers are meeting these demands with creative solutions like single-serve packs, resealable pouches, and on-the-go packaging formats.

Get a sample copy of the Confectionery Packaging Market report: https://www.reportsanddata.com/download-free-sample/7721

Additionally, aesthetics and branding play a pivotal role in the confectionery packaging sector. Packaging serves as a powerful marketing tool, employing eye-catching designs, vibrant colors, and captivating graphics to capture consumer attention and set products apart on store shelves. Manufacturers are investing in visually appealing packaging to enhance brand visibility, create strong product identities, and influence consumer purchasing decisions.

Moreover, the growing emphasis on sustainability and eco-friendly packaging practices is emerging as a significant trend in the confectionery packaging market, further propelling revenue growth. Consumers are increasingly eco-conscious, and they actively seek sustainable options. Consequently, packaging manufacturers are developing innovative solutions using recyclable, biodegradable, and compostable materials.

Technological advancements designed to enhance packaging functionality and efficiency are another key factor bolstering market revenue growth. Innovations such as Barrier Films, active packaging solutions, and intelligent packaging systems are being developed to extend product shelf life, maintain freshness, and provide real-time information to consumers. These technological advancements contribute to preserving product quality, reducing food waste, and improving the overall consumer experience.

However, the market faces potential constraints in the form of stringent regulations and compliance requirements related to food safety, labeling, and packaging materials. Fluctuating raw material prices and supply chain disruptions can also impact the cost and availability of packaging materials, posing potential restraints on market revenue growth.

Key Highlights: Type Categories: The global confectionery packaging market is categorized into two primary types, flexible and rigid packaging.

Flexible Packaging holds a substantial share in the confectionery packaging market. Materials such as pouches, bags, and films are widely used for packaging various confectionery products, offering advantages like lightweight, customization, and convenience for both manufacturers and consumers.
Rigid Packaging also commands a significant share in the market. Rigid packaging materials like boxes, cartons, and jars provide robust protection to delicate confectionery items and are often used for premium and gift packaging where presentation and product differentiation are critical.

Materials: The market can be categorized by material into Plastic, Paper and Paperboard, and Metal.

Plastic packaging is a dominant segment, known for its versatility, durability, and cost-effectiveness. Various plastic types, such as Polyethylene (PE), Polypropylene (PP), and polyethylene terephthalate (PET), are used for packaging confectionery items. Plastic packaging excels in barrier properties, protecting products from moisture, air, and light.
Paper and Paperboard materials are gaining popularity due to their eco-friendly nature. They are derived from renewable resources, offering biodegradability and catering to eco-conscious consumers. These materials are strong, customizable, and lend a traditional and nostalgic charm to packaging designs.
Metal Packaging, though less common, is appreciated for its durability and premium appearance. It is often used for gifting high-end confectionery products, ensuring product protection and providing a luxurious presentation.

End-Use Sectors: The market's end-use is divided into retail and foodservice sectors.

The retail sector significantly contributes to the confectionery packaging market. Packaging in this sector focuses on product protection, shelf appeal, and brand promotion to attract consumers and differentiate products from competitors.
The foodservice sector is crucial for immediate consumption or takeaway. It requires packaging that ensures food safety, convenience, and efficient serving and transportation of confectionery items.

Regional Insights: The Asia Pacific region leads the global confectionery packaging market, with significant growth driven by factors such as increasing disposable income, changing consumer preferences, and a rising middle class. India and China, in particular, are witnessing substantial growth in their confectionery industries.

North America is expected to experience the fastest revenue CAGR during the forecast period, driven by increased demand for innovative packaging solutions, especially in response to environmental concerns and rising temperatures.

Europe is projected to experience moderate growth, with the United Kingdom being a prominent player due to its thriving food and beverage industry.

Competitive Landscape: Key players in the market include Amcor Limited, Crown Holdings Inc., Berry Global Inc., Ball Corporation, Huhtamaki Oyj, Mondi Group, Sealed Air Corporation, Smurfit Kappa Group, DS Smith Plc, Coveris Holdings SA, and Bemis Company Inc.

Strategic Developments:

Amcor Limited acquired Bemis Company Inc. to expand its product offerings and strengthen its position in the global packaging industry.
Crown Holdings Inc. entered a strategic cooperation agreement with Signode India to enhance its market share in India's confectionery sector.
Mondi Group acquired Olmuksan International Paper Ambalaj Sanayi Ve Ticaret A.S., aiming to increase its market share in the European packaging industry.

New Product Launches:

Berry Global Inc. introduced a new line of flexible packaging options for confectionery, including stand-up pouches, gusseted bags, and barrier films to extend the shelf life of confectionery products.
Huhtamaki Oyj launched a line of molded fiber packaging options for confectionery products, reducing the environmental impact of confectionery packaging.
Sealed Air Corporation introduced automated packaging solutions for the confectionery sector, offering precise and efficient packaging solutions that lower labor costs.
Coveris Holdings SA unveiled a line of film- and paper-based confectionery packaging solutions in 2020, enhancing the aesthetic appeal of confectionery products through high-quality graphics and printing capabilities.

Segments Covered in the Report: The report encompasses historical data and forecasts revenue growth at a global, regional, and country level, analyzing market trends in various segments and sub-segments from 2019 to 2032. The market segments include Type Outlook, Material Outlook, End-Use Outlook, and Regional Outlook.

Explore Trending Reports:

Green Hydrogen Market-https://www.reportsanddata.com/report-detail/green-hydrogen-market

Retort Packaging Market-https://www.reportsanddata.com/report-detail/retort-packaging-market

Downhole Tools Market-https://www.reportsanddata.com/report-detail/downhole-tools-market

Grinding Aids For Cement Market-https://www.reportsanddata.com/report-detail/grinding-aids-for-cement-market

Sprinkler Irrigation Systems Market-https://www.reportsanddata.com/report-detail/sprinkler-irrigation-systems-market

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/7721

Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W

(Head of Business Development)

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Blogs | Press Release | Industry News | Our competencies

Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports