Confectionery Packaging Market Expected to drive a Healthy 3.3% CAGR During 2022-2027

The confectionery packaging market is assessed at US$ 10.9 billion of every 2022 and is projected to arrive at US$ 13.2 billion by 2027.

Future Market Insights has published a new report titled ‘Confectionery Packaging Market: Global Industry Analysis 2015 – 2021 and Opportunity Assessment 2022 – 2027′ studying the performance of the global Confectionery Packaging Market.

The report presents value and volume forecasts of the global Confectionery Packaging market for a 5-year evaluation period from 2022 to 2027 and provides important insights into factors driving market growth and factors limiting market growth.

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According to an assessment by Future Market Insights, the global Confectionery Packaging market was valued at nearly US$ 10.5 Bn in 2021 and is expected to reach a value of nearly US$ 13.2 Bn by 2027, at a CAGR 3.8% in the course of the forecast period 2022-2027.

Anthropomorphic packaging to harness consumer appeal to pop culture characters driving market trends in North America

By incorporating the anthropomorphic designs of attractive and popular characters into their packaging, confectionery and candy brands have been able to attract children and fans of these popular characters. Creating candy packs in the shape of fictitious characters allows marketers to take advantage of the rise in popularity of these fictitious characters to convince fans to buy candy.

The trend of anthropomorphic packaging is widespread in the market, with significant adoption of pop culture such as cartoons, action and adventure films, and other famous fictional characters. Domestic and international manufacturers of confectionery products regularly develop their products in the form of trend characters and develop sauce packaging tailored to the form of such products. developing,

Global Confectionery Packaging Market: Segmentation and Forecast

The global confectionery packaging market is segmented on the basis of confectionery type, material type, packaging type, and region.

• By Confectionery Type, the chocolate confectionery segment followed by sugar confectionery segment, collectively are estimated to hold around 89% of the market value share in 2022.
• By material type, the metals segment was valued at nearly US$660 million The plastic segment is expected to remain the most attractive material type during the forecast period owing to barrier properties such as moisture resistance. Packaging of sweets such as chocolate and gum.
• By packaging type, the flexible packaging segment was valued at nearly US$4,800Mn is projected to grow at a rate of 4.3% during the evaluation period.
• By region, the Western European Confectionery Packaging market is expected to reach a value of $3160 million in 2027, exhibiting a CAGR of 2.3% during the forecast period.

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What was the Impact of the COVID-19 Pandemic on the Global Market for Bakery Packaging?

The global confectionery packaging market referred to as bakery packaging experienced a slight negative market growth on the back of the factors such as disruption in the supply chain, improper supply & availability of raw material, government restriction on trade, the slowdown in the production process, and others.

Later, with the reduction in restriction by the government, the industries started to operate at their full efficiencies which slowly had a positive impact on the confectionery packaging market.

Moreover, the buying habits of the consumer changed during the pandemic. Consumers started to prefer different varieties and brands of confectionery products along with purchasing different sized packages which creates the market growth opportunity for confectionery packaging.

Furthermore, the key players operating in confectionery packaging started to focus on offering sustainable and eco-friendly packaging solutions which attract confectionery manufacturers. Overall, the confectionery packaging market is expected to rise at a faster pace during the forecasted period.

Competitive Landscape

The key players in confectionery packaging market are developing and launching new products under their product portfolio. The new product launched by the players matches the growing concern of sustainable and environmentally friendly packaging solutions. Also, the key players in the confectionery packaging market are focusing on expanding their presence through mergers & acquisitions.

• In June 2021, Smurfit Kappa Group announced the completion of the Cartones del Pacifico acquisition. It acquired a leading paper-based packaging company location in Peru which will help the company to expand its footprint in Latin America.
• In April 2021, Amcor plc partnered with Nestle to move towards sustainable packaging in Australia by offering Nestle, recyclable paper packaging to pack its confectionery products.
• In March 2021, Amcor plc announced the launch of a soft plastic food wrapper in Australia which is made from recycled content.

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