The global confectionery packaging market size is expected to reach USD 26.8 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.7% over the forecast period. Rapid expansion of the confectionery industry will remain a key factor for the growth of the market across the world. Furthermore, growing importance of packaging in enhancing the aesthetics of the food item is boosting the demand for the product among the major chocolate, candy, and sweet manufacturers.
As of 2018, plastic dominated the industry in terms of raw material. High flexibility, durability, and light weight make it more preferable among the food manufacturers. However, rising awareness about non-degradability of plastic and its harmful impact on the environment is expected to raise the demand for environment-friendly materials such as paper and board. Manufacturers of the food industry are focusing on introducing plastic free sustainable packaging. For instance, in January 2019, Nestlé announced to start paper-based packaging for its colorful sugar-coated chocolate, Smarties in 2020.
Asia Pacific is anticipated to witness relatively higher growth as compared to the other regions. Increasing demand for chocolate is boosting the growth of the industry in this region. According to the Cocoa Association of Asia, grinding cocoa beans has increased by around 15% from 2016 to 2017. This will widen the opportunity for the chocolate producers in this region. In March 2019, Barry Callebaut, a global manufacturer of high-quality chocolate and cocoa products, expanded its business in China. The company opened a new CHOCOLATE ACADEMY center and a new office in Beijing.
Key competitors of this industry include Amcor Limited; The Smurfit Kappa Group plc; Crown Holdings Incorporated; Sealed Air Corporation; Bemis Company, Inc.; WestRock; Sonoco Products Company; The International Paper Company; Huhtamäki Oyj; and Berry Global, Inc.
Manufacturers of this industry have been focusing on product innovation as food producers are demanding innovative packaging to attract consumers. In July 2018, Nestlé launched KitKat Senses in a pop-open box design. The trays and lids of this product are made of carton board. Nestlé collaborated with ÅR Packaging Group AB for this new KitKat series.
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Further key findings from the report suggest:
North America accounted for 30.9% share of the overall revenue in 2018
Asia Pacific is expected register the fastest CAGR of 7.0% from 2019 to 2025
Plastic held the largest share of more than 50.0% in 2018
Chocolate dominated the market with a revenue of USD 10.1 billion for the year 2018
Grand View Research has segmented the global confectionery packaging market on the basis of raw material, application, and region:
Confectionery Packaging Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
Paper & Board
Confectionery Packaging Application Outlook (Revenue, USD Million, 2015 - 2025)
Confectionery Packaging Regional Outlook (Revenue, USD Million, 2015 - 2025)
Central & South America
Middle East & Africa
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