The confectionery market is one of the rapidly growing sectors all over the world. Ordinarily confections are high in calorie and low in nutrients. Over the past few years, sugar-free confections are gaining traction due to factors such as rising number of diabetic patients, inclining obesity rate, rising health and nutritional concerns and change in the lifestyle. The market of confectionery is majorly divided into bakers and sugar confectionery. The baker’s confectionery includes cakes, doughnuts, cakes and cookies, whereas sugar confectioneries include candies, chocolates, sweets and chewing gum. Packaging is a vital part of confectionery products as it preserves their texture, taste and quality. In terms of revenue, there is an escalating demand for small-size packaging. Various retailers are choosing for secondary packaging of goods. It has been noticed that, various confectionery companies are seeking for light-weight materials to package their goods. Over the past few years, the confectionery packaging market have showcased an upliftment and is anticipated to growth at a significant CAGR in the next ten years till 2025. Rising demand for biodegradable and recycled materials for packaging is anticipated to bolster the overall confectionery packaging market all across the globe from 2015-2025.
Global Confectionery Packaging: Market Segmentation
The Global Confectionery Packaging market is segmented on the basis of flexible and rigid packaging. It has been noticed that confectionery packaging preferences are highly moving towards flexible packaging specifically among the mass market confectioners. The global confectionery packaging market is also segmented on the basis of confectionery product type which includes sugar confectionery, chocolate confectionery and gum confectionery. The global confectionery packaging market is further bifurcated on the basis of forms of packaging which includes paper packaging, plastic packaging, metal packaging and others. The global confectionery packaging market is also segmented on the basis of organized and unorganized segment.
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Global Confectionery Packaging Market: Growth Drivers
Increasing disposable income, budding growth of retail sector as well as rising urbanization and change in lifestyle are some of the major growth drivers fostering the growth of global confectionery packaging market. Consumers with busy schedule tend to be more leaned towards confections, as such items are tasty and consumes less time. It has been noticed that, the urban population is more tilted towards consumption of confectionery products as compared to rural regions. This is ultimately stimulating the growth of confectionery packaging all over the world. Whereas upsurge in general health problems which includes breathing problems and stomach disorders as well as the problems of obesity among the young population in all over the world can lead to uneven eating habits and unnatural consumption of food which may hamper the growth of the global confectionery packaging market.
Global Confectionery Packaging Market: Regional Outlook
Geographically, the Global Confectionery Packaging industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. The North America captured the significant share in the global confectionery packaging market in 2014. Europe captured the second highest share in the global confectionery packaging market. Inclining population along with rising disposable income in developing countries such as China and India is anticipated to incline the growth of confectionery packaging market. Asia Pacific region is expected to be the most growth potential region over the next 10 years from 2015-2025 fostered by GDP growth and rising population in developing nations.
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Global Confectionery Packaging Market: Players
Some of the key vendors identified across the value chain of the global Confectionery Packaging market include Amcor, Bemis, Owens-Illinois, Aptar group, Crown holdings, Kraft, Graham packaging, Hood packaging, Silgan Holdings, Sonoco Products, and others. The growth of confectionery packaging industry is highly in developing markets and each and every multinational confectionery packaging conglomerates is pursuing that path. The aspiration to grow quickly has led to various confectionery packaging companies to merge or develop strong partnerships. Such significant partnerships is anticipated in the future as well.
