The chocolate wrapping films market is anticipated to thrive at an average CAGR of 4.5% between 2023 and 2033. The market is expected to have a market share of US$ 1,148.6 million by 2033, while it is likely to be valued at US$ 739.65 million in 2023.
Due to which vendors are innovating premium cardboard-based luxury packaging solutions, increasing demand for premium chocolates across the globe is expected to benefit the market in the forecast period.
The manufacturers are presenting premium chocolates as well as premium chocolate packaging as gifting options that attract consumers due to the exclusiveness of the packaging, thereby fostering the demand for premium and luxury packaging. Unique consumption experiences are increasing the demand for these chocolates, especially in the festive season, and keeping consumers returning for more.
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Key Points
- The United States market leads the North American chocolate wrapping films market in terms of market share in North America. The United States held a healthy market share in 2022. The factors attributed to the growth are the higher consumption of chocolate bars and the advent of chocolate bar alternatives. New sugar-free and vegan chocolates are expected to flourish in regional growth during the forecast period. North America secured a 21% share of the global market in 2022.
- The German chocolate wrapping films market held a healthy market share of 8.3% in 2022. The market growth is caused by higher tourist footfall, new healthy chocolate brands, and government policies around new packaging solutions.
- The Indian market thrives at a healthy CAGR between 2023 and 2033. The growth is attributed to international chocolate brands entering the market, new Indian brands with enhanced wrapping solutions, etc.
- The chocolate wrapping films market is segmented into PET, PVC, and BOPP based on type, polyvinyl chloride (PVC) is leading the category.
- Based on application type, white, dark, and milk are the key applications in the category.
Competitive Landscape
The key suppliers focus on environmentally friendly packaging along with thin and durable packaging. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
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Recent Market Developments
- Multifilm Packaging Corporation has been acquired by Transcontinental Inc., so that it can enhance its high-end confectionery business in North America.
- Swiss Pack United Kingdom has introduced the perfect packaging solutions for cold seal rolls, especially in chocolate bar packaging.
Key Regions Covered:
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)
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