The confectionery flexible packaging market value is expected to rise from US$ 9.8 billion in 2024 to US$ 13.2 billion by 2034. This market is analyzed to surge ahead at a CAGR of 3.10% over the next decade.
The “on-the-go snacking” concept is being increasingly adopted by consumers, especially those who inhabit urban spaces. This trend has kicked in the sales of smaller pack sizes, which the consumers purchase to portion control and monitor their calorie consumption.
Key players are contributing to this trend by offering small-sized packages with higher functionality, sustainability, and convenience. These efforts are expected to draw in the younger population who increasingly purchase snacks that are conveniently packaged and reflect their values surrounding sustainability.
Confectionery players further continuously release new products with varied flavors and textures, which continues the demand for flexible packaging. Equipped with a distinguished portfolio of packaging and paper products, market players are expected to work with manufacturers and brands to meet their packaging needs.
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“Key players are releasing new designs in confectionery flexible packaging solutions to equip confectionery players with festive season packaging solutions. Additionally, players are investing in sustainable packaging solutions to resonate with eco-conscious consumers,” says an analyst of Future Market Insights.
Key Takeaways from the Confectionery Flexible Packaging Market Report
- The confectionery flexible packaging industry value increased from US$ 8.7 billion in 2018 to US$ 9.5 billion in 2023. During the historical period, the market registered a growth rate of 1.70%.
- Based on product type, the films and wraps segment is anticipated to account for 30.4% in 2024.
- By applications, the biscuits segment is projected to record a share of 32.6% in 2024.
- In North America, the demand for confectionery flexible packaging is going to be relatively higher in Canada, as the market in the United States becomes mature.
- In Europe, the United Kingdom and France are expected to observe some movement in the upcoming years.
- Growth trajectory in the Asian countries is projected to be higher than in developed regions, the reason being higher consumption of confectionery items and greater population base in these countries.
Strategies that are at the heart of Confectionery Flexible Packaging Producers
Key players focus on mergers and acquisitions as their default strategic move to manoeuvre the global market. Companies in this field are offering sustainable, paper-based packaging that helps confectionery and candy brands find a sweet spot among their eco-conscious customers.
Players are providing cutting-edge decorative technologies and high-end finishes to lure their customers with their product offerings. Apart from this, the seasonal changes in the candy aisle invokes thoughtful value chain management by players and changes in packaging designs to encourage their customers to quickly purchase confectionary product packed for holiday or festive season.
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Power-packed Developments in Confectionery Flexible Packaging Industry
- Italian Cama group announced that it will exhibit technologically progressive confectionery packaging machinery at the event IPACK-IMA 2022. This event is known to act as a catalyzer for the technological revolution in packaging.
- Amcor plc is changing the customer perception of confectionery packaging by creating paper-based packaging solutions for the same market in January 2022.
Global Market by Categories
By Product Type:
- Films and Wraps
- Pouches
- Sachets and Stick Packs
- Tubes
- Laminates
Confectionery Flexible Packaging Market by Material Type:
- Plastics
- PE
- PP
- PET
- PVC
- PA
- EVOH
- Bioplastics
- PLA
- PHA
- Starch Based Plastic
- Cellulose Fibers
- Other Plastics
- Paper
By Application:
- Chocolate
- Candy and Toffees
- Gum
- Jelly
- Snack Bars
- Biscuits
- Rest of Others
Different Regional Markets are as Follows:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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