APEJ Expected to Be the Fastest Growing Regional Market for Confectionery Packaging in the Coming Decade
Valley Cottage, NY -- (SBWIRE) -- 07/31/2018 -- Future Market Insights presents a new report titled 'Confectionery Packaging Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027' that studies the performance of the global confectionery packaging market over a 10 year assessment period from 2017 to 2027. The report presents the value and volume forecasts of the global confectionery packaging market and provides important insights into the factors driving market growth as well as the factors restricting market growth. As per the assessment of Future Market Insights, the global confectionery packaging market was estimated to be valued at nearly US$ 9,200 Mn by 2017 and is anticipated to touch a valuation of nearly US$ 13,200 Mn by 2027 and in the process exhibit a CAGR of 3.7% during the period of forecast 2017-2027.
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Anthropomorphic Packaging to Leverage Consumer Appeal Towards Characters in Popular Culture Trending the North America Regional Market
Incorporating anthropomorphic designs of attractive and popular characters into packaging has enabled sweets and candy brands to attract children and fans of such popular characters. Building candy packs in the shape of fictional characters help marketers to leverage the trending popularity of these fictional characters in attracting fans into buying these candies. The trend of anthropomorphic packaging is prevalent in markets with a considerable adoption of popular culture like comics, action and adventure movies and other famous fictional characters. Local as well as international manufacturers of confectionery products regularly develop products in the shape of trending characters and source packaging that suits the shape of such products. Developing, designing and manufacturing anthropomorphic packaging requires packaging companies to possess custom manufacturing capabilities and also the ability to cost effectively run small volume batches.
Global Confectionery Packaging Market: Segmentation and Forecast
The global confectionery packaging market is segmented on the basis of confectionery type, material type, packaging form and region. By confectionery type, the chocolate confectionery segment was estimated to be valued at nearly US$ 4,100 Mn by 2017 and is likely to reach a valuation of nearly US$ 6,100 Mn by 2027, exhibiting a CAGR of 4.1% during the period of assessment 2017-2027.
By material type, the metal segment was estimated to be valued at nearly US$ 660 Mn by 2017. The Plastic segment is anticipated to remain the most attractive material type over the forecast period due to barrier properties such as moisture resistance, which is favourable for the packaging of confectionery such as chocolates and gums.
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By packaging form, the flexible packaging segment was estimated to be valued at nearly US$ 4,800 Mn by 2017 and is expected to witness a growth rate of 4.3% during the period of assessment. By region, the Western Europe confectionery packaging market is anticipated to reach a valuation of US$ 3,160 Mn by 2027, displaying a CAGR of 2.3% during the period of forecast.
Global Confectionery Packaging Market: Competitive Landscape
In this report, some of the key players functioning in the global confectionery packaging market have been profiled, which include players such as Amcor Limited, Smurfit Kappa Group, Sealed Air Corporation, Bemis Company, Inc., Crown Holdings, Inc., Berry Global, Inc., Huhtamaki Oyj, Mondi Group, DS Smith Plc., International Paper Company, Sonoco Products Company, WestRock Company, Clondalkin Group Holdings B.V., Schur Flexibles Holding GesmbH, Ahlstrom-Munksjö Oyj, Bomarko Inc., Printpack Inc., Stanpac Inc., MOD-PAC Corp. and Tomric Systems, Inc.
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