Confectionery Packaging Market Share

Confectionery Packaging Market Overview

The confectionery packaging market is expected to grow  USD 10,901 million at a higher CAGR 3.30% in the global market during the forecasted period to account for a higher market value in the market trends.Owing to the increasing demand for food and beverages, mostly sweet items propel the growth of the market in the global market. Also, the increasing urbanization and changing preference towards sugar-free products fuel the global market in the global market. Moreover, the growing innovation in the packaging industry also facilitates the growth of the market. Changing tastes and preferences, and habits is another contributing factor for the growth of the market analysis in the global market.

COVID 19 Analysis

With the growing outbreak of the global pandemic of COVID 19 businesses have suffered huge losses which have pushed the economies towards forced recession. The growing wave of the global pandemic has suffocated the individual to fight between the financial crises along with health concerns. The situation of lockdown has resulted in shut down of most of the manufacturing units which leads to a steep downfall in the sales revenue of the confectionery packaging market all across the globe. The supply chain networks have also been disrupted which results in reduced profit margin.

However, it is expected that the confectionery packaging industry will recover from this global pandemic of COVID 19 by strategizing properly to meet the requirements of their customers. Also, it is expected to recover at the end of the third quarter in the coming year.

Competitive Landscape:

List of most prominent major key companies in the global confectionery packaging market are mentioned below:

• 
  Crown Holdings, Inc.


• Graphic Packaging International Inc.


• Aptar Group Inc.


• Sonoco Products Company


• Bemis Company Inc.


• Amcor Limited


• Silgan Holdings


• West Rock Company


• Solo Cup


• Sweetheart Holdings

These major key players use various strategies to sustain their market position in the confectionery packaging market in the global market by collaborating, by going for mergers, and acquisitions, setting up a new joint venture, establishing a partnership, developing a new production process, innovation in the existing product, developing a new product line, and many others to expand their customer base in the untapped market of the confectionery packaging all across the globe.

Confectionery Packaging Market Dynamics

Drivers:

The rise in demand for confectionery packaging in the global market. Owing to the increasing personal disposable income, changing lifestyle, and increasing consumption of confectionery products are some of the factors which drive the growth of the market in the global market. With the increasing young population in the global market, the demand for market increases all across the globe. Moreover, the market of sugar-free confectionery items is gaining higher popularity which fuels the growth of the market in the global market.

Opportunities:

The demand for confectionery packaging market analysis is increasing constantly in the global market. The increasing concerns among people regarding health and fitness and adopting a healthy lifestyle provide various growth opportunities for the market in the global market during the forecasted period. Moreover, the penetration of the e-commerce industry in various augments provides various growth opportunities for the market in the global market. Innovation done in the packaging industry is another growth opportunity available during the estimated period.

Restraints:

The demand for the confectionery packaging market growth is increasing rapidly in the global market but some factors restrict the growth of the market in the global market. The fragmentation of the market hinders the growth of the market all across the globe. The strong competition among the competitors in the domestic market hampers the growth of the market in the global market. Also, the strict rules regarding the use of plastic are another factor that restricts growth.

Value Chain Analysis:

The demand for confectionery packaging is increasing tremendously in the global market owing to various benefits associated and hence adds value to society. Owing to the increasing problem of obesity among people, various sugar-free products are included in the confectionery packaging market. Also, various healthier snack bars were launched that are tasty and healthy.

Confectionery Packaging Market Segmentation:

The confectionery packaging market in the global market has been divided based on the material, type, application, confectionery items, and many others.

Based on the Material:

The confectionery packaging report in the global market has been divided based on the material into plastic material, paper material, metal material, and many other materials.

Based on the Type:

The global market has been divided based on the type into flexible packaging type and rigid packaging type.

Based on the Application:

The global market has been divided based on the application into assorted chocolates, toffies and candies, sugar and bread confectionery, chocolate bars, and many others.

Based on the Confectionery Items:

The global market has been divided based on the confectionery items into sugar confections, chocolate confections, flour confections, and many other confectionery items.

Based on the Region:

The confectionery packaging market in the global market has been divided based on the region into Asia-Pacific region, European region, North American region, Latin American region, the Middle East and African region, and the rest of the world.

Regional Analysis:

The confectionery packaging in the global market has been divided based on the region into Asia-Pacific region, European region, North American region, Latin American region, the Middle East and African region, and the rest of the world. The largest market share in the confectionery packaging in the global market is held by the Asia-Pacific region as this region is the fastest-growing region in the global market owing to increasing urbanization. Also, the preference regarding consumption of food and beverages is constantly changing in this region and hence dominates in the global market. Moreover, the increasing investment in the packaging industry anticipated more growth opportunities in the Asia-Pacific region.

The second-largest market share in the global confectionery packaging market in the global market is held by the North American region owing to the presence of various giant countries like the US and Canada. Also, the North American region is anticipated to grow rapidly during the forecasted period. The third-largest market share in the market in the global market is held by the European region owing to increasing investment in the packaging industry by various countries like Italy, France, Germany, and the UK.

The Latin American region and the Middle East and African region also show steady growth in the confectionery market during the forecasted period. Various countries like Brazil, Argentina, and others are investing funds towards the improvement of infrastructure, and hence the market flourishes in this region.

Recent Developments:

• In June 2023, Amcor announced that it had acquired the flexible packaging business of Bemis Company for $10.7 billion. This acquisition will make Amcor the world's largest flexible packaging company.

• In July 2023, Mondi announced that it had launched a new range of sustainable confectionery packaging made from renewable materials. The new range includes paperboard cartons, plastic films, and aluminum foil

• In August 2023, Tetra Pak announced that it had launched a new aseptic carton for confectionery products. The new carton is made from renewable materials and is designed to extend the shelf life of confectionery products

• In August 2023, Sealed Air Corporation announced that it had acquired the food packaging business of Sonoco Products Company for $1.6 billion. This acquisition will make Sealed Air the world's largest food packaging company.

Report Overview:

The global confectionery packaging market research report consists of the following elements:

• Market Overview


• COVID 19 Analysis


• Market Dynamics


• Value Chain Analysis


• Market Segmentation


• Regional Analysis


• Competitive Landscape


• Recent Developments

This global confectionery packaging market research report contains factors that drive the growth of the market in the global market along with the factors that restrict the growth of the market in the global market. The opportunities available for the growth of the market during the forecasted period are mentioned. The impact of COVID 19 on the sales revenue of the market all across the globe is mentioned. The future growth rate of the market during the forecasted period is estimated and mentioned.