In 2022, it is anticipated that the market for chocolate packaging films would generate US$707,8 million. The market is anticipated to grow at a 4.5% CAGR from 2022 to 2032 and generate US$ 1,099.1 million in sales. The expansion of this industry can be linked to an increase in global chocolate consumption, particularly in developing nations.
During the projected period, the market is anticipated to profit from the expanding selection of chocolates and the shifting lifestyles of people around the world. Additionally, rising consumer awareness of chocolate use is probably going to increase market size. Health experts claim that regular chocolate eating increases serotonin levels, which relax the brain and have antidepressant effects. Additionally, it causes the body to release endorphins, which immediately improve mood.
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Chocolate Wrapping Films Market Overview
The confectionary manufacturer requires such type of chocolate wrapping film that preserves the product’s taste and texture, increases yield, and is environment friendly. The chocolate wrapping films are used as an alternative to the paper packaging products. These films can be transparent, printed, or metallic in appearance. The high mechanical and optical barrier properties are present in a chocolate wrapping film to prevent products from coming into contact with various gases which may alter its taste.
The chocolate wrapping films are safe to use and also FDA approved. The ideal chocolate wrapping film is unaffected by humidity, heat resistant, non-reactive to sugar, chocolate, liqueur, spirit fillings and retain good water and oxygen resistant levels. Most of the chocolate wrapping films are flexible in nature which could be run conveniently through any printing and wrapping machines.
Due to its high flexibility, the chocolate wrapping films could be used to pack chocolates of varied shapes and sizes. These films save lots of costs involved in the packaging of chocolate products and in turn, helps manufacturers to increase their profits. The chocolate wrapping films play an important role in providing efficient packaging solution to a billion dollar confectionary industry.
Chocolate wrapping films: Market Dynamics
The rise in disposable incomes and consumption levels of the middle-class households in developing countries is boosting the demand for chocolate wrapping films market. The other factors including retail market expansion, the rise in gifting trend along with strong marketing campaign are contributing to the growth of this market. Chocolate confectionary manufacturers are opting for an alternate cost-efficient packaging solution which is effortlessly fulfilled by chocolate wrapping films.
The latest innovations in design and waste reduction techniques will create opportunities in chocolate wrapping films market. The rising concern for health and stringent regulation on the packaging of food products by some regulatory authorities (such as FDA, CFIA, ISO, WHO, etc.), are few factors which may hamper the chocolate wrapping films market in near future.
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Chocolate wrapping films market: Regional outlook
Geographically, the global Chocolate wrapping films market is segmented across following regions- Asia-Pacific, Eastern Europe, Western Europe, North America, Latin America, Middle East and Africa. The North America accounts for the major share in chocolate wrapping films market due to high disposable incomes of middle-class households. The Latin America is the largest manufacturer of confectionary products will offer the high growth potential for chocolate wrapping films market.
The emerging economies such as India and China, where average household incomes are increasing significantly day by day, will expand at good CAGR value. Also, the confectionary manufacturers are shifting their production facilities to emerging economies to reduce operational costs. The Japan, MEA, and European region will offer an untapped growth potential for chocolate wrapping films market.
Chocolate wrapping films market: Key players
Some of the key players in the global Chocolate wrapping films market are Sysco Industries Limited, Multifilm Packaging Corporation, POLYSACK LTD, VACMET INDIA LIMITED, Uflex Ltd., Watershed packaging Ltd TAGHLEEF INDUSTRIES GROUP, Mondi Group, Aluflexpack novi d.o.o., Swiss Pack U.K., Varipack AG., Ester Industries Ltd., Innovia Films Limited, CLONDALKIN GROUP.
Regional analysis includes
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segments Profiled In The Global Chocolate Wrapping Films Market
Chocolate Wrapping Films Market by Type:
- PET
- PVC
- BOPP
Chocolate Wrapping Films Market by Application:
- White
- Dark
- Milk
Chocolate Wrapping Films Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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