ID: MRFR/PNT/1933-HCR | February 2021 | Region: Global | 100 pages
The global stick packaging market has been recorded to have witnessed rapid growth from 2011 and similar trends are expected from the stick packaging market trends during the forecast period that will be ending in 2028. The stick packaging market is projected to grow at a CAGR of 6.26% during the review period and is further projected to reach a global market sum worth USD 316.6 Million by 2028.
Stick packaging, as a part of the global market, can be considered as a type of flexible packaging which is generally used for the processes that are related to food packaging. Stick packaging can be recognized as vertical, elongated, and is easy to handle processing for on-the-go market products that are available to the global target audience. May different kinds of substances can be poured easily into stick packages depending on their size, requirement, and shape. They are much more economical and efficient than any other form of packaging available to the market producers and manufacturers. They have a lower effect on the environment as compared to any other form of packaging and hence, the momentum for them is high especially during the ongoing forecast period that will be ending in 2028.
The outbreak of the novel coronavirus pandemic has caused havoc and concerns for the smooth functioning of the stick packaging market share that was estimated to be growing during the ongoing forecast period that will be ending in 2028. The global market trends show that there has been a slowdown because of the declined demand and hence, the market is likely to be facing losses in 2020. The outbreak has pushed people to make alternate changes to their tastes and preferences and hence, there is a major degree of disruption in the demand and supply chain mechanism in the global market premises.
There is a dire need for the market to return to normalcy and overcome the losses that have been incurred during the forecast period that ends in 2028. The trends suggest that investments followed by an expansion in the market portfolio will help the market, players and the target audience dwell well in the period.
The global market is marked with intense competition due to the presence and functioning that is being carried out by a large number of both, big and small firms. The market has been witnessing trends that render support to new product launches, mergers & acquisitions, and partnerships, investments, and expansions are the key strategies that are being adopted by market players to ensure their growth in the market during the forecast period ending in 2028. The prominent market companies are mentioned as follows:
One of the factors that are resulting in a major degree of growth of the stick packaging market is the rise in income levels of the people. This is expected to be leading the market towards expansion and resulting in the increased use of packaged products. There has been a huge degree of innovation in the process related to flexible packaging that has driven the manufacturer to develop small packaging products, which ultimately increases the market demand for stick packaging. There has been a huge rise in the trends that support the rising disposable income of the global target audience along with the growth in the global retail industry has resulted in the growth of this market and will continue to do the same during the forecast period of 2021-2028. There has been an increase in the demand for packaged food because health consciousness is also one of the reasons that are driving the stick packaging market.
However, one of the major restraints that the global market is likely to be witnessed during the period is the lack of awareness amongst the target consumers about the stick packaging market value followed by its advantages and ability to reduce environmental harm. These factors are likely to hamper the global stick packaging market from growing during the ongoing forecast period that will be ending in 2028.
The global market for stick packaging is projected to be driven by the rising degree of demand from the flexible packaging industry. The busy lifestyles of the target consumers that are spread in a series of global market locations have encouraged the use of convenient products for packaging while maintaining the quality and market standards. There has been a huge growth in disposable income that has enabled the end-users to spend more on new types of packaging is benefitting a large degree of customers in the global market premises. Most importantly, there has been a changing preference of target consumers since the outbreak of the pandemic from rigid to flexible packaging has given a boost to the stick packaging market during the forecast period that will be ending in 2028.
The stick packaging market share has been on the verge of massive expansion based on the market trends. This is because the market is recording an excellent performance by its segments that are spread in regions of various participating countries and hence, meeting the needs of the global target audience. The market segmentation is as follows:
The global stick packaging market is observed to be matured in developing economies amongst other participating regions such as Europe and North America. The reason behind this is the rapid growth and demand that is propelling in the packaging sector. The Asia-Pacific region is likely to emerge as the second-largest market, with a global market share of 30%. It had projected to be the fastest-growing market from 2015 to 2020. Similar kinds of trends are expected to dominate the global market growth for the current forecast period that will be ending in 2028. The global market functions in the APAC region are projected to have reached a market share worth USD 316.61 Million by the pandemic year 2020.
These companies are some of the prominent companies in this market comprise 73.60% of the total market share.
The stick packaging market report has been prepared to understand the demand patterns that will help the market overcome the losses of the pandemic. The report covers authentic market trends that present the market with opportunities for expansion during the period. The market report helps to understand the market segmentation that will help the growth and the rising degree of competition.
|Market Size||2030: Significant Value|
|CAGR||2030: Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Bemis Company, Inc. (U.S.), Amcor Corporation (U.S.) Ball Corporation (U.S.), Reynolds Group Holdings, Inc. (U.S.), Smurfit Kappa Group (U.K.), Berry Plastics Corporation (U.S.), EXAIR Corporation (U.S.), RPC Group Plc. (U.S.), Rexam Plc. (U.S.), and Bosch Packaging Technology (U.S.).|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global market is projected to reach a final market revenue worth USD 316.6 Million by 2028.
The global market is likely to undergo a market CAGR of 6.26%.
The reduced effect of stick packaging on the environment is likely to motivate the market.
Reynolds Group Holdings, Inc. (U.S.), Berry Plastics Corporation (U.S.), Ball Corporation (U.S.), and Smurfit Kappa Group (U.K.) are the players in the market.
The APAC region is likely to dominate the global market operations.
The regions, application, and material based segments are used to gain improved market analysis.