The global confectionery packaging market size is expected to reach USD 26.8 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.7% over the forecast period. Rapid expansion of the confectionery industry will remain a key factor for the growth of the market across the world. Furthermore, growing importance of packaging in enhancing the aesthetics of the food item is boosting the demand for the product among the major chocolate, candy, and sweet manufacturers.
As
of 2018, plastic dominated the industry in terms of raw material. High
flexibility, durability, and light weight make it more preferable among the
food manufacturers. However, rising awareness about non-degradability of
plastic and its harmful impact on the environment is expected to raise the
demand for environment-friendly materials such as paper and board.
Manufacturers of the food industry are focusing on introducing plastic free
sustainable packaging. For instance, in January 2019, Nestlé announced to start
paper-based packaging for its colorful sugar-coated chocolate, Smarties in 2020.
Asia
Pacific is anticipated to witness relatively higher growth as compared to the
other regions. Increasing demand for chocolate is boosting the growth of the
industry in this region. According to the Cocoa Association of Asia, grinding
cocoa beans has increased by around 15% from 2016 to 2017. This will widen the
opportunity for the chocolate producers in this region. In March 2019, Barry
Callebaut, a global manufacturer of high-quality chocolate and cocoa products,
expanded its business in China. The company opened a new CHOCOLATE ACADEMY
center and a new office in Beijing.
Key
competitors of this industry include Amcor Limited; The Smurfit Kappa Group
plc; Crown Holdings Incorporated; Sealed Air Corporation; Bemis Company, Inc.;
WestRock; Sonoco Products Company; The International Paper Company; Huhtamäki
Oyj; and Berry Global, Inc.
Manufacturers
of this industry have been focusing on product innovation as food producers are
demanding innovative packaging to attract consumers. In July 2018, Nestlé
launched KitKat Senses in a pop-open box design. The trays and lids of this
product are made of carton board. Nestlé collaborated with ÅR Packaging Group
AB for this new KitKat series.
Full Research Report On Confectionery Packaging Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/confectionery-packaging-market
Further key
findings from the report suggest:
- North America
accounted for 30.9% share of the overall revenue in 2018
- Asia Pacific
is expected register the fastest CAGR of 7.0% from 2019 to 2025
- Plastic held
the largest share of more than 50.0% in 2018
- Chocolate
dominated the market with a revenue of USD 10.1 billion for the year 2018
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https://www.grandviewresearch.com/industry-analysis/confectionery-packaging-market/request/rs1
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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