Market analysts expect the global bakery flexible packaging market, now estimated at US$ 7.8 billion in 2023, will grow at a CAGR of 4.4%. By 2033, the market is expected to achieve a valuation of US$ 12 billion thanks to advancements in packaging.
The following are other drivers of the bakery flexible packaging market:
- Spending more in poor countries
- A wide range of packaging and transportation needs are necessary for the expanding food and beverage industry.
- There is a growing need for swift yet secure bulk delivery of goods.
- Packing facilities have multiplied to accommodate demand from growing urban populations.
- The majority of the global market for flexible bakery packaging is in North America.
Also, the films keep the product life duration preserved by protecting the food from climatic factors. Also, the films used for bakery items also work as a tool of advertisement which raise their popularity among the end users.
The bakery product is witnessing rising demand due to increase in urbanization and also, inclination towards ready-to-eat food increasing due to the changing lifestyle which boost the sales of bakery products. The rising sales of bakery products have a positive impact on the Bakery Flexible Packaging market.
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The bakery industry prefers packaging films over other convectional packaging due to the stretch and wraparound feature of the films. Also, product visibility is possible using the packaging films which attract the customer to purchase the product. This leads to an increase in the use of packaging films in the bakery industry.
Moreover, the packaging films have high strength, flexibility, and high resistance to damage which attracts the bakery industry. Overall, the market for Bakery Flexible Packaging is anticipated to rise in the foreseeable period with the increase in usage of bakery products.
Competitive Landscape
Key players operating in the Bakery Flexible Packaging market are
- Amcor Plc
- Berry Global Inc.
- Mondi Plc
- Charter Next Generation
- Bischof + Klein SE & Co. KG
- Jindal Poly Films Limited
- Innovia Films Ltd
- DuPont Teijin Films
- Atlantis-Pak
- UFlex Limited
- Others
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What Uplifts the Growth of the Bakery Flexible Packaging Market?
The major factor driving the growth of Bakery Flexible Packaging is the property of the packaging films and the need towards protecting the bakery item from getting damaged due to the rising demand for bakery food. The increasing demand for the bakery product is uplifting the sales of the product which is a positive signal for the Bakery Flexible Packaging market.
Furthermore, the import-export of a bakery product is also increasing which boosts the Bakery Flexible Packaging market. Also, the need towards healthy food as well as the baked food is increasing day-by-day which leads the growth of Bakery Flexible Packaging market.
Moreover, the customers need towards balancing their work life make them purchase the bakery products and this push the sales of Bakery Flexible Packaging to ensure the safe delivery of bakery product. In addition to it, the attraction towards product due to the product visibility through films inclines the customer to purchase the same and this indirectly uplifts the Bakery Flexible Packaging market growth.
What Challenges the Growth of the Bakery Flexible Packaging Market?
The factor that hinders the growth of the Bakery Flexible Packaging market is the waste been generated after the usage of films. The major portion of Bakery Flexible Packaging are non-biodegradable as well as non-recyclable which induce the environmental impact on a significant scale.
This challenge can be overcome by developing sustainable films which may serve the basic function of traditional packaging film as well as may benefit the environment by minimizing the waste. Also, the availability of raw materials would hamper the growth of the Bakery Flexible Packaging market considerably.
How will the Online Food Business/Trend impact the Bakery Flexible Packaging Market?
The trends towards purchasing or ordering food online are rising due to the time and place convenience offered by online platforms. Customers are ordering their food including bakery products online which will raise the demand for the Bakery Flexible Packaging as the bakery product producer will ensure that their product reaches the customer safely and in proper condition.
Also, considering from local bakery to international bakery everyone is logging online to sell their product which will require proper packaging of their product and that will boost the demand for the packaging film market.
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Key Segments of Bakery Flexible Packaging Covered in the Report
Based on Material Type:
- Polyethylene
- Polypropylene
- Cellulose
- Polyamide
- Others
Based on Application:
- Bread
- Cakes & Pastries
- Biscuits
- Frozen bakery items
- Others
Based on Sales Channel:
- Direct Sales
- Manufacturers
Based on Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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