Global Confectionery Packaging Market Dynamics and Competitive Scenario through 2027

Jan 4th 2019 at 12:52 AM

A new report titled “Global Confectionery Packaging Market Dynamics and Competitive Scenario through 2027” has been included in the enormous research repository of Market Research Reports Search Engine (MRRSE) that compiles various facets of the Confectionery Packaging Market at a global level portraying a holistic analysis of the marketplace along with intelligence on key participants. The report covers an unbiased analysis on various market aspects, emphasizing major trends giving direction to the market, key opportunities paving new growth avenues, key drivers pushing the market’s growth and challenges and restraints hindering the market for Confectionery Packaging Market across the globe.

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Emerging markets such as India, China, and Africa etc. provide a huge growth potential for confectionery products. Africa is expected to showcase second fastest growth rate in terms of consumption for confectionery packaging after Asia-Pacific. This region is also witnessing an inflow of foreign investment in manufacturing of confectionery products. South Africa is expected to exhibit progress in terms of income levels, further supporting the strong economic prospects of the African region.

Multinational as well as domestic players are anticipated to enter the markets through various entry strategies that include exports, sales agents and manufacturing. Multinational players as well as domestic players are setting up manufacturing operations in emerging markets and are characterized by shifting away from ‘premiumisation’ of confectionery products. Domestic manufacturers and multinational players of APEJ and MEA regions are on the other hand targeting cash strapped consumers in such regions as a part of their strategy who seek value added products. This is due to the fact that untapped market segments in the emerging economies represent a huge target market opportunity for chocolate, sugar and gum confectionery products.

Further, the APEJ and MEA regions have a huge young population with the average age below 20 years. Young median age and a growing middle class in such regions are expected to fuel the demand for end use products that are packed in stickpacks and boxes.

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As the internet continues on its trajectory of dominating the lives of the consumers, the growth of e-commerce is reaching new heights. Chocolate is the most preferred confectionery product in online sales. A growing consumer preference for dark chocolates is surging the demand for e-commerce confectionery packaging market. Hence, many chocolate manufacturers are opting for various initiatives to launch new products and flavours. For instance, Mondelez has teamed up with Amazon to create a virtual chocolate and sweets store on Amazon’s online marketplace.

The shipping logistics market is growing consequently on the backdrop of a tremendous growth in the e-commerce industry, wherein consumers are ensured the delivery of the products in prime condition. Increasing penetration of modern trade and e-commerce has resulted in more number of consumers availing online retail services. This is attributed to the convenience associated with monetary transactions, product shipment and delivery. These factors, in turn, are expected to boost the growth of the global confectionery packaging market.

As per the data given by Market Research Reports Search Engine (MRRSE), the plastic segment in the material type category was estimated to be valued at nearly US$ 5,200 Mn in 2019 and is likely to touch a valuation of nearly US$ 7,050 Mn in 2027, exhibiting a CAGR of 3.1% during the assessment period 2017-2027. The paper and paperboard segment in the material type category was estimated to be valued at nearly US$ 2,150 Mn in 2019 and is likely to touch a valuation of nearly US$ 3,500 Mn in 2027, displaying a CAGR of 5.1% during the period of assessment.

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