CONFECTIONERY PACKAGING MARKET ANALYSIS

Confectionery Packaging MarketSize and Trends

• Packaging in confectionery is used to protect the product and simplify the transportation, which is driving global confectionery packaging market growth. Confectionery packaging offers various advantages such as health and sanitation standards, helps in product differentiation, and provide convenience at self-service stores, and vending machines. Development of many products in the confectionery industry has boosted the growth of the packaging industry. Packaging not only provides protection to the product but also gives out the nutritional and brand information to the consumers. Flexible packaging is gaining significant traction in the market, as it can be reused.
• Innovation of new materials to be used in packaging of products and change in consumer’s preference for packed food is expected to drive growth of the global confectionery packaging market. Increasing inclination of consumer’s towards packaged goods due to modernization is fueling market growth. Manufacturers are introducing innovative packaging to attract customers of 2-12 year age group.

Market Outlook

• Among the material type, paper and board segment accounted for the highest market share in the confectionery packaging market in 2017. Paper was the first material to be used in packaging of products in packaging industry. Paper and board are the degradable materials and they do not have any harmful effects after disposal. Majority of the bakery and confectionery companies prefer this type of raw material due to its advantages.
• Among packaging type, rigid packaging segment dominated in the market in 2017, as master cartons are used to protect the products from any exterior jerk or pressure. Master carton is easy to store, handle, and transport. The segment is projected to have dominant position in the market over the forecast period.
• North America held highest market share in the global confectionery packaging market in 2017. The region is projected to maintain its dominance over the forecast period, owing development of confectionery products and increasing demand for premium chocolate products. According to a statistics by Swiss Federal Customs Office, United States of America is one of the five top importer of Swiss chocolates in 2016.
• Asia Pacific is projected to be the fastest growing region in the market over the forecast period. Key factors such as increasing demand for chocolate products and increase in production and grinding of cocoa beans. The Cocoa Association of Asia published an increase of 15.24% to 185,394 tons of grinding cocoa beans year-on-year from 2016 to 2017. This rise in grinding of cocoa beans will create the opportunity for the manufacturers. Asia pacific has demographic advantage by having a large number of young population. According to a report published by United Nations (UN) in 2018, Asia Pacific has world’s 60% youth population equals to 750 million.