The global confectionery flexible packaging market is expected to exceed $5.9 billion by 2022. Confectionery flexible packaging demand is expected to increase at a 3.2% CAGR, bringing the market size to US$ 7.6 billion by 2030.
Confectionery flexible packaging market in Asia Pacific, the Middle East, and Africa is developing due to improved food processing and rising inclination for snacks and nibbles. Customers are drawn in by improved product options, such as a wider product range and better packaging.
Food and snack delivery is critical for the pandemic-induced homebound population. E-commerce is a driving force behind snack delivery. Confectionery demand increased dramatically in 2020-2021 as new food and grocery delivery firms entered the market.
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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.
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.
- 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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Will Increasing Sustainability Concerns Fuel Demand for Confectionery Flexible Packaging?
According to Plastic Oceans International, with over 40% of total usage, plastic as a material is considered to be the largest end-use segment for packaging and most of it is non-biodegradable.
Paper and bioplastic packaging are more sustainable packaging options that reduce plastic consumption. Confectionery companies such as Hershey, Mars and Nestlé have announced to go completely sustainable by 2025.
Recyclable and reusable packaging is one of the most lucrative areas of investment for confectionery flexible packaging manufacturers. Customers are preferring paper packaging to reduce plastic waste. Which will continue spurring demand for bioplastic packaging and recyclable packaging for confectionery.
Confectionery Flexible Packaging Market by Category
By Product Type:
- Films & Wraps
- Sachets & Stick Packs
By Material Type:
- Starch Based Plastic
- Cellulose Fibers
- Other Plastics
- Candy & Toffees
- Snack Bars
- Rest of Others