Confectionery packaging in a broader sense states that the protection of sweet meat preparation in the form of caramels, candies, processed cocoa products, and chocolates.
Future Market Insights published a recent report on global confectionery packaging market that states the market is anticipated to expand at moderate single digit CAGR to reach a valuation of nearly US$ 13.2 Bn by the year 2027, raised from approximately US$ 9.2 Bn in 2017.
Including anthropomorphic designs of popular and attractive characters into packaging has facilitated candy and sweet brands to fascinate children and fans of such popular characters. Creating candy packs in shape of fictional characters allow marketers to grip the trending popularity of such fictional characters that are attracting fans for buying these candies. The trend of anthropomorphic packaging is prevalent in markets with significant adoption of popular culture such as actions & adventure movies, comics as well as several other fictional characters. International as well as local manufacturers of confectionery products regularly design products in shape of trending characters and sources packaging that outfits the shape of these products. Manufacturing, developing and designing anthropomorphic packaging needs packaging players to complete custom manufacturing capabilities as well as the ability to run small batches cost effectively.
Why will plastic segment remain lucrative?
The chocolate confectionary segment on the basis of confectionery type is projected to reach valuation of approximately US$ 6.1 Bn in the year 2027, increased from US$ 4.1 Bn in the year 2017. The segment is anticipated to witness expansion at 4.1% CAGR throughout the forecast period (2-17-2027). The metal segment was pegged at valuation of nearly US$ 660 Mn in the year 2017. Owing to the barrier properties such as moisture resistance, the plastic segment is projected to remain most lucrative segment among all material type segments throughout the assessment period, which is suitable for packaging of gums and chocolates. The flexible packaging segment was slated to reach approximate valuation of US$ 4.8 Bn in the year 2017. The segment is likely to witness expansion at 4.3% CAGR over the forecast period.
What will be performance of the confectionery packaging market across the globe?
Developing markets such as Africa, China and India deliver huge expansion potential for confectionery products. Africa is anticipated to exhibit 2nd fastest growth rate in terms of consumption of confectionery packaging. This region is anticipated to showcase an inflow of foreign investment in production of confectionery products. In terms of income level, the South Africa is anticipated to showcase progress, also supporting the strong economic outlook of the African region. The report reveals, the market in Western Europe region is expected to reach valuation of US$ 3.16 Mn in the year 2027. The region is anticipated to witness sluggish expansion over the forecast period.
What are the leading companies in the global confectionery packaging market?
The report reveals several leading players in the market such as Tomric Systems, Inc., Amcor Limited, Sealed Air Corporation, MOD-PAC Corp., Bemis Company, Inc., Berry Global, Inc., Ahlstrom-Munksjö Oyj, Huhtamaki Oyj, DS Smith Plc., WestRock Company, International Paper Company, Clondalkin Group Holdings B.V., Mondi Group, Schur Flexibles Holding GesmbH, Sonoco Products Company, Crown Holdings, Inc., Bomarko Inc., Printpack Inc., Stanpac Inc., and Smurfit Kappa Group.
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