Market Research Blog – Page 9951 – New Product Development

Hospitality Staffing Market to Record US$ 1886.6 Bn by 2032, Increasing Tourist Activities, New Hotels and Restaurants

As per the study at FMI, the hospitality staffing market is valued at US$ 971.3 billion in 2022 and is expected to reach US$ 1886.6 billion by 2032, growing at a 6.9% CAGR.  

The driving growth of the hospitality staffing market is attributed to the recovering hotel industry, new tourist spots opening up, high discounts on tourist packages along with technologically advanced platforms that make it easy for the end users to access the travel locations, hotels, and transportation. 

The hospitality sectors demand competent and professional staff that adds value to the hospitality services while enrolling in time-to-time training programs to increase the understanding of the work culture.

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The growing population, along with new travel locations opening, are pushing the hospitality sector and government to invest more capital into the hotels, parks, monuments, and accommodation facilities, using the latest advanced technology.

 The government and its initiative have put forward the agenda of making the travel and hospitality industry survive and then get it back on track. As soon as the restriction and lockdown had been lifted, the hospitality centers started hiring new employees.

The major restrictions that hold the hospitality staffing market backward are the use of third-party services along with the incompetency of the management that fails to hire the right set of staff that helps the business is growing exponentially.

The latest trend that changes the dynamics of the hospitality staffing market is the online marking system that helps the candidate gain market according to their skillset. This way, each position, and its required skillset gets fulfilled through these operations. 

KEY TAKEAWAYS:  

Market analysis explains that the market is categorized by work position, work and end user. These categories are further divided into small segments that expand their channels in multiple market spaces.
Manager segment is the largest segment by the work position type and will hold the biggest portion of the market in the forecast period, thriving at CAGR of 4.3% through 2032. The growth of segments is attributed to leadership vacuum, rising management issues, new project-based companies setting up in FMCG and travel industry.
Growing population along with new travels locations opening through are pushing the hospitality sector and government to invest more capital into the hotels, parks, monuments and accommodation facilities, using the latest advanced technology.

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COMPETITIVE LANDSCAPE:  

Some of the hospitality staffing market competitors listed in the FMI’s study on Hospitality staffing market are

Hospitality Staffing Solutions,
Remedy Intelligent Staffing,
Allinace Recruitment Agency,
The Service Companies, Inc.,
Alrich Hospitality Staffing Inc.,
Bolt Staffing Services,
Hospitality Staffing UK,
Luxe Hospitality Staffing,
and Refugee Staffing Agency.

Recent Developments 

Hospitality staffing solutions has introduced its powering hospitality staffing solutions that cover workers and businesses and has also launched its new eBook named “Safety Matters: A Guide to Safety and Hospitality Contingent Labour”.
Remedy Intelligent Staffing has upgraded its hospitality staffing solutions with new best practices like introducing its app that can help the workers in finding jobs in the hospitality sector, pushing the sales of hospitality staffing solutions.

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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Custom Boxes Market is predicted to grow US$ 71.0 Bn by 2032 | Future Market Insights, Inc.

The custom boxes market size is expected to grow at a 4.4% CAGR from US$ 46.3 billion USD in 2022 to US$ 71 billion USD by 2032.  The visually appealing, highly efficient packaging may entice consumers, plays a critical part in purchasing decisions, and is essential for escalating custom boxes market key trends and opportunities.

The custom boxes market growth, along with custom boxes market future trends, is requiring manufacturers to make more varied goods usable in a variety of industries. The availability of different alternatives has produced a sky-high demand for custom boxes, with consumers choosing custom boxes to ensure complete satisfaction may boost the custom boxes market opportunities.

Due to the pandemic crisis, the B2B and B2C businesses in the custom boxes market have seen an increase in demand for custom boxes as well as sales of custom boxes. Medical goods, as well as household items, have boosted sales of custom boxes and demand for custom boxes. Regulations and standards for social distancing have led to an increase in online delivery. The “work from home” working style has resulted in an increase in electronic product consumption, which has fueled the custom boxes market growth and custom boxes market adoption trends.

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The severity and duration of the pandemic condition may determine the custom boxes market growth and custom boxes market key trends & opportunities. Several growing custom boxes market, like India, China, and Japan, are opening their custom boxes market to other countries for commercial purposes.

The customers’ understanding of purchasing sustainable bio-degradable custom boxes is growing by the day, and this phenomenon is drawing many investors, which results in the escalation of the adoption of custom boxes.

The increased need for import-export activities is likely to drive the custom boxes market growth and custom boxes market trends and forecast.

KEY TAKEAWAYS:

The custom boxes market’s cosmetic box packaging segment from the packaging category is predicted to develop at a CAGR of 2.8% through 2032.
Based on end-user, custom boxes market’s food and beverages segment contributed a noteworthy custom boxes market share.

Europe had a sizable custom boxes market share of the custom boxes market.

COMPETITIVE LANDSCAPE:

New market research report on custom boxes says that Unique Custom Boxes, Custom Boxes Market, Packman Packaging, Bolt Boxes, Blue box, Custom Box Makers, Packlane, Inc., PackMojo Limited, Shree Ganesh Packaging, VSL Packaging are among the legacy players vendors.

The research offers a comprehensive competition analysis of these top competitors in the custom boxes market, including custom boxes market growth, custom boxes market share, custom boxes market adoption trends and important market strategies.

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Recent Development in the custom boxes:

New Launches:

Fantastapack, a web-to-print custom boxes firm located in the United States, may launch a new line of corrugated insert boxes in April 2021. Fantastapack says that by using digital print and converting, it provides customers a competitive edge by providing them with access to new packaging options before the rest of the market.

Investments:

Packhelp secured $45.6 million in investment in November 2021 to expand its custom boxes business. Packhelp has grown a custom boxes market that helps even the tiniest businesses wrap their products in eye-catching custom boxes, while also counting H&M and Uber Eats as customers, owing to the rise of e-commerce and on-demand delivery.

Acquisition:

C-P Flexible Packaging, located in the United States, paid an undisclosed price in August 2021 to purchase Fruth Custom Packaging and its subsidiary, Cleanroom Film and Bag (CFB). C-P may benefit from the acquisitions by expanding its West Coast footprint and packaging capabilities for medical devices, biopharmaceuticals, electronics, and semiconductors.

Key Segments

By Box Style:

Brief case style Box
Five Panel Hanger Box
Seal End Box
Hexagon Box
Others

By Packaging:

Retail Box Packaging
Cosmetic Box Packaging
Food and Beverage Box Packaging
Others

By End-use Industry:

Food & Beverage
Healthcare
Cosmetic
Personal & Homecare
Others

By Sales Category:

B2B sales
B2C sales
Independent Vendors

By Region:

North America
Latin America
Asia Pacific
Europe
Middle East and Africa

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Rise of the E-Commerce Sector Proliferates the Packing Tape Market With the Anticipated CAGR of 4.8% through 2032

The packing tape market is expected to escalate at a CAGR of 4.8%, from USD 21.8 billion in 2022 to USD 34.9 billion through 2032. Owing to the lack of transportation and the scarcity of raw resources, expansion of the packing tape market has been hampered. Even for the E-Commerce sectors, transportation was not an option. The packing tape market share has also slowed as a result of this.

The packing tape market is expected to grow at a sluggish pace, with a CAGR of 2.3% from 2015 to 2021 rising to 4.8% during the forecast period. One of the key aspects that contribute to the packing tape market statistics is the rapid rise in economic growth in the purchasing of products from the E-Commerce platform.

One of the primary factors driving the growth of the packing tape market is the use of packaging products in the food and beverage industry. In addition, the expansion of the vehicle industry stimulates demand for packing tapes.

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Furthermore, the fluctuation in the cost of raw materials for manufacturing during the pandemic is one of the key reasons impeding the packing tape market analysis. As the packing tape business continues to increase, people are beginning to think more about tapes. As a result, manufacturing companies must enhance their technological skills.

With the slow rise of the packing industries in recent days, the demand for the packing tape is consistent and steady. The adoption of packing tapes in food and beverage items, automotive industries, and E-Commerce industries has contributed to this recent growth.

In the following years, the Asia-Pacific market for packing tape is predicted to grow at the fastest rate. China and India are predicted to have the fastest market growth in the Asia-Pacific region.

Key Takeaways

The market for packing tape is expected to be valued at US$ 34.9 billion by 2032.
The packing tape market is predicted to develop at a CAGR of 4.8% due to creative designs and product innovations.
The packing tape market was valued at US$ 20.9 billion in 2021.

The Acrylic segment of the packing tape market, which falls under the material type category, is expected to grow at a CAGR of 3.8% through 2032.

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Competitive Landscape

Major key players in the packing tape market are Ethicon, Medtronic, Intuitive Surgical, Apollo Endosurgery, ReShape Life Sciences, contributing to the packing tape market share.

To extend their influence in the packing tape market trends, these vendors have used a variety of organic and inorganic growth tactics.

Recent Developments:

In August of 2019, the kite packaging company released four new machine tapes, one of which is 48mm wide and the other is 75mm wide.
The new kite low noise solvent tape and vinyl tapes were introduced in 2019 by the kite packaging company. Due to the inexpensive cost of these types of containers, cassettes are readily available.
Monta released self-adhesive tapes made of natural rubber adhesive in February 2020.

Tesa SE bought FormFormForm Ltd. (UK), a maker of adhesive tapes and self-adhesive systems solutions, in May 2018. Tesa SE’s product portfolio, geographic reach, go-to-market channels, and sectors served were all strengthened as a result of this transaction.

Key segments

By Material Type:

Corrugated Board
Specialty Paper
Box-board/Carton Board
Kraft Papers
Other

By End-use Industry:

Food & Beverage
Healthcare
Personal Care & Cosmetics
Homecare & Toiletries
E-Commerce
Chemicals & Fertilizers
Others

By Packing Type:

Corrugated Boxes
Cartons
Wrapping Paper
Cups & Tray
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa

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Global Demand for Packing Paper is Surges on the Back of Environmental Concerns; Packing Paper Market to grow at a CAGR of 4.8% through 2032

The packing paper market is expected to escalate at a CAGR of 4.8% from USD 45.3 billion in 2022 to USD 72.4 billion through 2032. Businesses and manufacturing industries around the world have been adversely affected by the rapidly spreading Coronavirus. As a result of extended lockdowns and disrupted supply chains, the packing paper market has been significantly affected.

During the COVID-19 outbreak, there has been a decrease in packaging paper production, which presents a challenge to manufacturers. There are several opportunities for market players to deal with these challenges in the packaging paper market. While the ongoing pandemic is affecting the economy, market players are effortlessly setting up their businesses to keep things running.

A growing retail and e-commerce industry, as well as a growth in demand for environmentally friendly packaging products, represent the key drivers of the market at present. Significant growth in the number of online shopping platforms has driven an increase in the demand for secondary and tertiary packaging products. Furthermore, changing consumer attitudes regarding sustainable packaging and the implementation of favourable government policies are stimulating the packing paper market growth.

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Another significant growth factor will come from the rapidly expanding food and beverage industry around the world. The food industry is moving towards adopting food-grade paper packaging products to hold on to the nutrients and preserve the quality of the foods.

The paper packaging market is also expected to grow in the coming years due to innovations to enhance the efficiency of the product as well as to produce visually appealing versions of the product.

The growth of the packing paper market has been hampered by fierce competition from flexible plastic packaging.

Increasingly, modern shoppers are considering convenience and portability as top priorities, so packaging design has shifted toward flexible, easy-to-handle packaging. The gusseted flexible pouch is now the packaging of choice for snacks that were once packaged in jars and tins. In addition to food producers and nutraceutical packagers, flexible pouches are also well-suited to gels and liquids.

KEY TAKEAWAYS:

The CAGR for the cosmetic segment of the end-user category in Packing Paper Market is anticipated to be 4.4% through 2032.
In the United States, the Packing Paper Market is estimated to reach US$ billion by 2032, rising at a CAGR of % throughout the forecast period.

By 2032, the Packing Paper Market in the United Kingdom is expected to be valued US$ million, with a CAGR of % through 2032.
With a CAGR of % throughout the forecast period, China is expected to reach a market size of US$ million in Packing Paper Market by 2032.
By 2032, the Packing Paper Market in Japan is estimated to be worth US$ million, growing at an annual rate of % through 2032.
With a CAGR of % throughout the forecast period, South Korea is predicted to reach a market size of US$ million in Packing Paper Market by 2032.

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COMPETITIVE LANDSCAPE:

India and China have the fastest-growing economies. Developmentally, developing countries still use a great deal of plastic packaging compared to the developed nations of the west. Since plastic is cost-effective and convenient for consumers, it is the perfect material for packaging.

Georgia Pacific announced recently that it is leaving its paper business and will shut down all its paper machines permanently. Another company has already closed its wood yard and pulp mill in Port Hudson, LA. This was due to concerns around the environment, which includes depleting forests.

A number of notable players are operating in the global cardiac reconstruction devices market, including The Packaging Company, Packhelp, Ruskin Group, Purple Co, Moraya Packaging, Pratt Industries, Inc., Mondi Group plc, WestRock Company, Oji Holdings Corporation, DS Smith Packaging Limited, Tat Seng Packaging Group.

RECENT DEVELOPMENT:

Compared to previous years, there has been a decline in demand for boxboard and liquid paper packaging. In the past 10 years, all of these factors have contributed to a 25% decline in hardwood fiber demand. For example, Georgia Pacific announced recently that it is leaving its paper business and will shut down all its paper machines permanently.
A company has already closed its wood yard and pulp mill in Port Hudson, LA. This was due to concerns around the environment, which includes depleting forests.
Further driving demand for paper packaging will be technological breakthroughs in the food industry, such as the development of laminated and coated papers to prevent leakage. It is expected that the paper packaging market will be the fastest-growing segment because it is efficient, versatile, innovative, and sustainable, adding value to food and other products.

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Cryogenic Boxes Market Will Register 7.3% CAGR, Exceeding US$ 657 Mn by 2032

According to Future Market Insights (FMI), the demand for cryogenic boxes is expected to surge with rising prevalence of common illnesses, lifestyle disorders, and chronic diseases. Also, growing focus on improving healthcare facilities and expanding biological and pharmaceutical research and improvements will boost the market.

Increased demand for cryogenic boxes has resulted from the expansion of diagnostic facilities, medical services, and biotechnological foundations, as well as government financing support. Following the COVID-19 outbreak, the global cryogenic box business gained immense traction, especially through the FQ-20.

The global cryogenic box market is growing due to the increasing development of stronger antiviral medications, research into improved vaccine development, and immunity-boosting doses. Biodegradable, recyclable, and ecologically friendly materials are being developed by key stakeholders.

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Growth in the cryogenic boxes market might be hampered by downward cost pressure in the pharmaceutical and healthcare sectors. The difficulties of continual product development and manufacture of superior grade cryogenic boxes can drive up market selling prices, affecting product supply.

Polypropylene, for example, has a shorter life duration and takes 20-30 years to disintegrate, resulting in trash accumulation. Replacing polypropylene with cardboard and fiberboard raises product costs and does not deliver the same level of efficiency. This factor may limit the growth of the cryogenic box market.

The biodegradability and recyclability of materials are important factors in influencing the cryogenic box market dynamics. Eco-friendly material improvements are critical to the cryogenic box market’s success.

Cryogenic boxes made of cardboard and fiberboard is predicted to rise in popularity during the prediction period. COVID-19 vaccine development and distribution, on the other hand, remain the product’s most promising market development prospects.

Key Takeaways from Global Cryogenic Boxes Market

Plastic cryogenic boxes are expected to increase at the 7.8% CAGR during the projection period (2022-2032).
Paper & paperboard cryogenic box segment will witness fastest growth due to the easy biodegradable property of paper & paperboard cryogenic box
The U.S. cryogenic boxes market is estimated to expand 2.1x of the current value, by 2032.
The healthcare industry accounted for the 44% value share in 2021 and is poised to increase at a CAGR of 8% in the global market.
India cryogenic boxes market is expected to grow at a CAGR of 8.1%. between 2022 and 2032.

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“Cryogenic boxes are gaining traction in the pharmaceutical and healthcare sector. They are also gaining immense popularity as a result of the growing demand for shipping organic material at ultra-low temperatures.” –comments FMI Analyst

Global Cryogenic Boxes Market Landscape

With big global and local competitors, the cryogenic box market is fiercely competitive. Customers can choose their sizes thanks to the market’s leading companies. Cryogenic boxes lids are also being innovated by several manufacturers in order to gain market share. Market shares are projected to change as a result of overall innovation in material, size, and appearance.

Some of the market’s major companies are

Tarsons,
Thermo Fisher Scientific Inc.,
Cole-Parmer Instrument Company, LLC,
Merck KGaA,
ratiolab,
BIOLOGIX GROUP LTD,
Heathrow Scientific,
Bioline Technologies,
TENAK A/S,

Deluxe Scientific Surgico Private Limited, CAPP, GENAXXON bioscience, Glassco, AHN Biotechnologie GmbH

Global Cryogenic Boxes Market by Category

By Material:

Plastic
Paper & paperboard
Metal

By Application:

Vials
Ampoules
Tubes

By End Use Industry:

Chemical
Healthcare
Personal Care

By Region:

North America
Latin America
Europe
Middle East and Africa
East Asia
South Asia
Oceania

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Flow Wraps Market to Exceed US$ 44.4 Bn as Demand for Sustainable Paper Packaging Grows in Food & Beverage Sector

According to Future Market Insights (FMI), the global flow wraps market is expected to continue to grow at 1.4x over the forecast period (2022-2032). With the changing lifestyle, inclination towards travel carry food, confectionery products are likely to increase demand for flow wraps market. The flow wraps market is directly affected by the expansion of the packaged food and beverage industry, which is one of the most significant industries. Between 2022 and 2032, the flow wrap market is expected to grow quickly.

Growing adoption of sustainable paper packaging and mono material packaging formats is propelling the sales of flow wraps. Hence, end users especially confectionery manufacturers are looking for paper flow wraps for packaging of chocolate bars, candies, and many others.

Recent and quick change over cold seal packaging over heat seal packaging is creating high impact on the demand for flow wraps. The cold sealed flow wraps ensure airtight seals that nullify the contact of moisture with the inside product thus optimize the quality in terms of texture and aroma of the product.

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End users are considering cold seal packaging for flow wraps as it increases the processing speed, fast the ramp up and ramp down times and ensures less product damage. Cold seal flow wrap packaging results in almost two times less line speed compared to traditional heal seal flow wraps. As per Sonoco Products Company, cold seal flow wrap pack 300-1000 flow wraps per minute whereas heat seal flow wrap limits to 150-400 flow wraps per minute.

Key Takeaways from Flow Wraps Market

Plastic is the most used material segment for manufacturing flow wraps and it holds a market share of 2/3rd of the total flow wraps market. The same segment is estimated to create an incremental opportunity of US$ 12 Bn during the forecast period.
Flow wraps in the food and beverage industry is estimated to increase 1.5x in the next decade due to increasing consumption of bakery and confectionery products among youngsters.
China’s flow wraps market projected to register a CAGR of 5.5% during the forecast period (2022-2032).

“Due to high competition in the global flow wrap market, manufacturers are eying on inclusion of new technologies and materials that will result in sustainable packaging. Cold seal flow wrap packaging is expected to be next normal of packaging industry boost the processing speed of packaging activities and revenue growth in the flow wrap market”- says FMI Analyst.

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Flow Wraps Market Landscape

Some of the leading players included in the Flow Wraps market are players like

Amcor PLC,
Constantia Flexibles Group GmbH,
Berry Global Group, Inc.,
Huhtamäki Oyj,
Sonoco Products Company,
Huhtamaki Oyj,
Sealed Air Corporation,
Mondi Group,
DS Smith Plc,
CCL Industries Inc.,
Uflex Ltd.,
Winpak Ltd.,

Rengo Co. Ltd., Glenroy, Inc., Schur Flexibles Group, ProAmpac LLC, Goglio Group, Bischof & Klein GmbH & Co. KG, Clondalkin Group Holdings B.V., Coveris Holdings S.A., Interflex Group Inc.

Flow Wraps Market By Category

By Material Type:

Plastic Flow Wraps
Paper Flow Wraps

By Thickness Type:

Up to 25 Microns
26-40 Microns
41-60 Microns
Above 60 Microns

By End Use:

Food & Beverages
Electrical & Electronics
Personal Care and Cosmetics
Home Care
Pharmaceuticals
Other End Use

By Region:

North America
Latin America
Europe
Middle east and Africa
East Asia
South Asia
Oceania

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Stretch Sleeve Labels Market to Surpass US$ 11.8 Bn by 2032 Amid Rising Stringent Regulatory Requirements for Labelling

The stretch sleeve labels are the specific type of ready-to-use labels which are applied to the containers without the use of any adhesives. These stretch sleeve labels are made from different plastic materials based on their requirements such as polythene terephthalate glycol (PETG), and others.

These labels have wide applications in various industries such as food, beverage, pharmaceuticals, personal care & cosmetics, homecare, and others. Stretch sleeve labels are cost-effective as it doesn’t require any adhesive to apply to the containers. Also, the stretch sleeve labels offer the benefit as it can be applied to the entire container which gains traction among the end use industries.

Moreover, rising regulatory requirement for labelling propels the demand for stretch sleeve labels, especially in the food, beverage, pharmaceuticals, personal care & cosmetics, and other industries. Advancement in technology and development of the latest stretch sleeve labels applicator creates a growth opportunity for the stretch sleeve labels market during the forecast period.

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Rising production of various products and the development of new products augment the sales of stretch sleeve labels in the industry. The stretch sleeve labels can be applied to any container with different shapes which adds to the benefits of the stretch sleeve labels.

Key Takeaways from Stretch Sleeve Labels Market

Polyvinyl chloride (PVC) segment under material type is estimated to represent a dominating market share throughout the forecast period.
In terms of end-use, the beverages industry is a significant lucrative for the stretch sleeve labels market. It is anticipated to accelerate with a CAGR of 7.3% in the global stretch sleeve labels market.
North America and Europe are estimated to remain the major revenue-generating region for the stretch sleeve labels market.
Stretch sleeve labels market is expected to reach a valuation of US$ 5.9 Bn by the end of 2022

“Innovations in stretch sleeve labels market are going to transform the industry in terms of sustainability and several breakthroughs are already in the market that can be leveraged.” –says FMI Analyst

Rising Consumption of Carbonated and Non-Carbonated Drinks to Boost Stretch Sleeve Labels Market

Shrink sleeve labels are used in the beverage industry on a daily basis for labelling bottles of different shapes and sizes. The demand for a variety of carbonated and non-carbonated drinks has witnessed a sharp rise in the last couple of years.

Growing consumption of non-carbonated and carbonated drinks is due to the increasing millennials in developing countries along with the increasing disposable incomes of consumers. Furthermore, changing preference toward a healthier lifestyle contributes to the massive demand for non-carbonated drinks such as juices, flavored water, and coconut water.

Growth in the demand for such types of drinks, especially for non-carbonated drinks, ultimately creates considerable demand for shrink sleeve labels for labelling bottles on large scale.

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Stretch Sleeve Labels Market Landscape

CCL Industries Inc.,
Huhtamaki Oyj,
Klöckner Pentaplast Europe GmbH & Co. KG,
Pregis LLC,
Atlantic Packaging, and
Multi-Color Corporation

are some of the key players operating in the stretch sleeve labels market. Walle Corporation, OTK GROUP, a.s., Alupol SA, and Berkshire Labels Limited are also the noticeable players in the stretch sleeve labels market. The tier 1 players in the stretch sleeve labels market hold around 15-20% of the global market share.

Stretch Sleeve Labels Market By Category

By Material Type:

Polythene Terephthalate Glycol (PETG)
Polyvinyl Chloride (PVC)
Polylactic acid (PLA)
Oriented Polystyrene (OPS)
Polypropylene (PP)
Polyethylene (PE)
Other Materials

By Printing Technology:

Rotogravure Printing
Flexographic Printing
Offset Printing
Digital
Letterpress Printing

By End Use:

Food
Beverages
Pharmaceuticals
Personal care & Cosmetics
Homecare
Others (Chemical, etc.)

By Region:

North America
Latin America
Europe
Middle east and Africa
East Asia
South Asia
Oceania

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Confectionery Flexible Packaging Market to Surpass US$ 7.6 Bn by 2030 as Demand for Recyclable Packaging for Snacks and Confectionery Rises

The global confectionery flexible packaging market size is forecast to top US$ 5.9 Bn in 2022. Demand for confectionery flexible packaging is slated to grow at a 3.2% CAGR, pushing the market size to US$ 7.6 Bn by 2030.

With improving food processing and rising preference for snacks and nibbles, the confectionery flexible packaging market in regions like the Asia Pacific and the Middle East and Africa is expanding. Improved product choices with better product range and packaging are attracting customers.

The pandemic-induced homebound population is heavily dependent on food and snack delivery. E-commerce is playing a chief role in pushing snack delivery. With many food and grocery delivery giants entering the arena, the demand for confectionery grew drastically in 2020-2021. This is trend is expected to continue in the forthcoming years, thereby spurring demand for confectionery flexible packaging.

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Further, growing preference and demand for sustainable packaging and food products is compelling manufacturers to launch recyclable confectionery packaging. For animal warfare, health benefits and climate change, it is estimated that in 2020 almost ~10% of the US population turned vegan or is believed to consume vegan food, compared to 1% in 2014.

The HORECA sector all over the world has taken note of the same, with snack and confectionery manufacturers producing vegan victuals, saying no to animal produce ingredients to cater for to niche section of consumers.

Vegan confectionery is expected to be a very lucrative market and is anticipated to provide opportunities for confectionery and snack packaging manufacturers. This is expected to boost sales for the confectionery flexible packaging over the forecast period.

“Improvements in packaging machinery, along with surging demand for leak-proof and recyclable confectionery packaging will continue fueling the growth in the market through 2030,” says an FMI analyst.

Key Takeaways:

Based on product type, sales in the films and wraps segment are forecast to increase at a 2.5% CAGR through 2030.

Demand for bioplastics will increase by 1.4x over the assessment period.
In terms of applications, sales in the jelly segment will grow at a 5.8% CAGR over the forecast period.
Demand for confectionery flexible packaging in the U.S. will increase at a 2.9% CAGR through 2030.
Total confectionery flexible packaging consumption in Europe will reach 1.5 Mn Tonnes in 2022.

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Competition Landscape

Some of the global key players operating in the confectionery flexible packaging market are

WestRock Company,
DS Smith plc,
Sonoco Products Company,
Amcor plc,
Huhtamaki Oyj,
Constantia Flexibles Group GmbH,
Ahlstrom-Munksjö Oyj,
Bomarko Inc.,
Printpack Inc. and
Stanpac Inc.

are some of the leading players operating in the global confectionery market.

Key manufacturers are investing in mergers and acquisitions to expand their production facilities to cater to the growing demand for sustainable packaging. They are also launching innovative packaging materials to improve sales. For instance:

In April 2022, Sonoco completely acquired Sonoco do Brasil Participacoes, Ltda, which is a Brazilian flexible packaging joint venture.

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Confectionery Flexible Packaging Market by Category

By Product Type:

Films & Wraps
Pouches
Sachets & Stick Packs
Tubes
Laminates

By Material Type:

Plastics
- PE
- PP
- PET
- PVC
- PA
- EVOH
- Bioplastics
  - PLA
  - PHA
  - Starch Based Plastic
  - Cellulose Fibers
- Other Plastics
Paper

By Application:

Chocolate
Candy & Toffees
Gum
Jelly
Snack Bars
Biscuits
Rest of Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)

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Sterile Packaging Sales to Exceed US$ 92.1 Bn as Demand for Antiviral Packaging Products Surges

Future Market Insights predicts ampoules and vials are the most preferred products among sterile packaging industry manufacturers. One of the key factors propelling the growth in sterile packaging market is growing demand for multi-compartment packaging products such as thermoformed trays, and blister packs.

Besides convenience and ease of handling, ampoules, vials, pre-filled syringes and cartridges also ensure safety as well as drug overfill reduction. Consequently, pharma manufacturers are likely to prefer these drug administration forms.

Moreover, emerging trend of pharmaceutical manufacturers to opt for plastics over glass for parenteral packaging is proving to be an economical and value-based approach for manufacturers. Plastic finds a wide range of applications in sterile packaging. Pouches, thermoformed trays, clamshells and other packaging products are manufactured with plastic.

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The adaptability of plastic as the most preferred material for moulding into various shapes and high barrier products makes it suitable for a wide range of sterile packaging products. Regionally, North America is expected to dominate the global market on the back of expansion of the U.S. pharmaceutical industry.

Key Takeaways from Sterile Packaging Market

As per the product type segment, vials & ampoules are expected to hold around 21% of the market share by the end of 2032.

Plastic is considered the most used material type by sterile packaging manufacturers over the forecast period.

Based on end use, sales of sterile packaging used for surgical & medical end use is estimated to grow at 8.9% CAGR between 2022 and 2032.

Europe and North America, collectively, are anticipated to account for approximately 50% of the total sales of sterile packaging in 2022.

India is anticipated to emerge as the fastest growing sterile packaging market over the forecast period of 2022 and 2032

 “Burgeoning demand for hygienic and antimicrobial packaging across pharmaceutical industry will propel the global sales of sterile & anti-viral packaging solutions,” says an FMI analyst.

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Prevalence of Chronic Diseases and Improved Healthcare Infrastructure to Boost Sterile Packaging Market

The sterile packaging industry is anticipated to grow due to prevalence of chronic illnesses and advancement of healthcare facilities across the glove. This is likely to propel the demand for all types of medicinal products such as trays, clamshells, bags, pouches and many more.

The sterile packaging market is projected to gain traction backed by the adoption of technologically advanced manufacturing practices. Sterile packaging increases the shelf life of products, this results in a longer lifespan of a product. Thus, the rise in the number of people having a chronic illness and improved healthcare facilities fuels the sales of sterile packaging.

Sterile Packaging Market Landscape

Becton, Dickinson and Company,
Berry Global Inc.,
Amcor Plc,
BillerudKorsnas AB,
Placon Corporation Inc,
Wipak Group,
ProAmpac LLC,
Sonoco Products Company, and
West Pharmaceutical Services, Inc.

are some of the top players operating in the sterile packaging. Furthermore, SteriPack Group, Nelipak Corporation, Puracon GmbH, Oliver Healthcare Packaging, LLC, Westfield Medical Ltd, GS Medical Packaging Inc. are also noticeable players in the market. Tier-1 players will hold 15-20% of the overall sterile packaging market.

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Sterile Packaging Market by Category

By Product Type:

Thermoform Trays
Bottles/Containers
Vials & ampoules
Caps & Closures
Pre-filled syringes
Blister & clamshells
IV Bags & pouches
Wraps
Others (Lids, etc.)

By Material Type:

Plastic Sterile Packaging
Glass Sterile Packaging
Metal Sterile Packaging
Paper & paperboard Sterile Packaging

By End Use:

Pharmaceutical & Biological
Surgical & Medical Instruments
Food & Beverage
Other End Use

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa (MEA)

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Dunnage Packaging Market to Gain Traction as Need for Safe Packaging Surges in Automotive Sector

According to Future Market Insights, the global dunnage packaging market is projected to expand at 5.8% CAGR, surpassing US$ 6.8 Bn by 2032. Growth is underpinned by rising trend of inter-oceanic trade and increasing import-export between the countries.

Shipping of products needs proper safety and protection along with secure delivery of goods and services. As these dunnage packaging solutions are useful for securing and protecting the products while in transit as well as an economic way of preventing damage to goods.

Hence, end users are trying to dominate the global market by increasing their geographic reach through import-export or establishing a distribution hub that builds sales of dunnage packaging. Hence, manufacturers of dunnage packaging are leveraging better specification and quality that provides customers satisfaction regarding their product protection. This is expected to boost the dunnage packaging market.

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Key Takeaways from Dunnage Packaging Market

By material, the plastic dunnage packaging segment is anticipated to remain the leading segment, accounting for around 25% of demand share in 2032.
The dunnage air bags under the product segment is estimated to hold significant share in the market during the forecast period.
Based on end use industry, the automotive segment is projected to register a CAGR of 4.8% during 2022-2032.
North America and Europe cumulatively will account for nearly 55% of the global dunnage packaging market by the end of the forecast period.
Demand for dunnage packaging is anticipated to propel in the developing economies such as China, India, and others due to the use of dunnage packaging by the packers and movers.

 “Use of dunnage packaging in transporting cargo will aid manufacturers, distributors, resellers, and shippers to reduce losses caused due to product damaged in transit. Need for dunnage packaging to ensure safety by decreasing the impact of load shifting will create growth opportunity for the key manufacturers”- says an FMI analyst.

Dunnage Packaging Market Landscape

Corplex (DS Smith),
ORBIS Corporation (Menasha Corporation),
UFP Technologies Inc.,
NEFAB GROUP,

are some of the top players operating in the target market. Furthermore,

Reusable Transport Packaging,
Amatech Inc., GWP Group,
Ckdpack, MJSolpac Ltd., and
Interior Packaging Design LLC,

are also noticeable players in the market. The tier 1 players in the market hold 15-20% of the overall dunnage packaging market.

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Dunnage Packaging Market by Category

By Material:

Plastic
Paper
Metal
Wood
Foams
Others (Fabric, Rubber)

By Product:

Dunnage air bags
Inserts
Dividers
Packaging Peanuts
Others (Bubble Wraps, etc.)

By End Use Industry:

Automotive
Aerospace
Electronics
Food and Beverage
Consumer Goods
Healthcare
Logistics & Transportation
Others (Personal Care & Cosmetic, Homecare, etc.)

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa (MEA)

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