NEWARK, Del, Oct. 04, 2022 (GLOBE NEWSWIRE) -- The global stick packaging market is projected to reach a valuation of US$ 2.0 Bn by 2032, with sales growing at a moderate CAGR of 4.7% from 2022 to 2032. The target market is likely to reach an estimated US$ 1.3 Bn in 2022.
The rising preference for single-serve packaging for powder items in the food & beverage industry is aiding the expansion of the stick packaging market during the forecast period.
The growing popularity of small and compact packaging solutions owing to its easy portability and convenience for the consumer on the go will likely bolster the market revenue during the forecast period to generate an absolute growth opportunity of US$ 803.7 Mn.
Get Access To Sample Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-12663
The heightened requirement for unit-dose packaging in the pharmaceutical sector so as to prevent over or under-dose of medicine by the patient is expected to aid in the expansion of the stick packaging market. The target market will expand 1.7 times the current market value during the projected period.
In the past few years, more and more consumers are opting for smaller pack sizes. These pack sizes are easy to carry and transport and make it convenient for on-the-go consumption. This promotes the target market growth. Also, this packaging ensure availability to the rural population as the buying power is less relative to the urban population.
The rise in market penetration of chocolate confectionery, particularly among the rural population, fuels the market growth of chocolate confectionery which in turn increases the demand for packaging material.
Moreover, as packaging solutions often act as a good advertising tool, many manufacturers are increasingly investing in packaging solutions. As packaging functions as an ideal medium to express product value, manufacturers are keen on using different packaging materials to communicate their brand elements and product value to the consumers. For instance, in order to market their low-calorie confectionery products, manufacturers in the food industry are making use of the target market to advertise their products.
The design and color of packaging material also play a crucial role in developing a marketing platform through packaging. The right color, size, design, and content of overall packaging assists the brand in determining the level of attention their product will get from consumers on retail shelves.
Customization Report Before Buying, Visit: https://www.futuremarketinsights.com/customization-available/rep-gb-12663
With the prevailing trend of small and compact packaging, the stick packaging solutions will presumable help companies in achieving their marketing and sales goals. This bodes well for the global stick packaging market during 2022-2032.
“Growing awareness of benefits associated with stick packaging such as affordability, portability, convenience to carry and use will propel the market growth of stick packaging over the forecast period,” says an FMI analyst.
Key Takeaways:
- Expanding food and Pharmaceutical sector to strengthen market prospects.
- Plastic stick packaging segment to expand 1.6x during the assessment period.
- In terms of end use, food & pharmaceutical sector will dominate the global market.
- The U.S will account for 82% of the total sales of the market in North America in 2022.
- The powder products segment will account for the heightened demand of the target market.
- Pharmaceutical sector will drive the target market in India.
Competitive Landscape
Amcor plc, Constantia Flexibles Corporation, Huhtamaki Oyj, Glenroy, Inc., ePac Flexible Packaging, ProAmpac LLC, Elitefill, Inc., GFR Pharma Ltd., Avery Dennison Corporation, Catalent, Inc., Unither Pharmaceuticals SAS, T.H.E.M., HWR Packaging LLC., Intelligent Blends, and others are some of the major players in the stick packaging market profiled in the full version of the report.
In a highly competitive market, the leading players are utilizing different strategies such as mergers, acquisitions, partnerships, and collaborations to raise their revenue and profits. These organizations are also keen on capacity expansion to gain a competitive advantage.
Access Full Report: https://www.futuremarketinsights.com/reports/stick-packaging-market
More Insights into Stick Packaging Market Report
In its latest report, FMI offers an unbiased analysis of the global stick packaging market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of material (paper, plastic, metal), application (powder products, liquid products, solid products), end use (food & beverage, pharmaceutical, cosmetics & personal care, home care), and region.
According to the latest FMI reports, based on segmentation, the plastic stick packaging segment will continue to gain traction during 2022-2032. The powder products of food & beverages and pharmaceutical sector will extensively use stick packaging due to greater hygienic requirements.
Based on region, the stick packaging market in the United States will show impressive growth over this period of observation. The country’s stick packaging market will account for about 82% of the sales shares in North America by the end of 2022. The growing food and beverage establishments coupled with a strong presence of pharmaceutical and food & beverage companies will fuel the market growth in this region during the forecast period.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Impact of Covid-19
Use promo code ->> FMITODAY to get flat 20% discount
Explore Our Trending Reports of FMI's Packaging Market Insights Landscape
Stick Pack Packaging Machine Market – Asia pacific is dominant amongst all the regions for the stick pack packaging machine market as the middle-income group is increasing more rapidly.
FMCG Packaging Market – The global FMCG packaging market is expected to reach US$ 418.8 Bn in 2022, with sales growing at a CAGR of 5.7% through 2032.
Beverage Packaging Market - The global beverage packaging market is estimated at USD 104.8 Bn in 2022 and is projected to reach USD 128.2 Bn by 2027, at a CAGR of 4.1% from 2022 to 2027.
Flexible Packaging Paper Market – The flexible packaging paper market is on track to grow at an estimated CAGR of 4% during 2022-2032.
Lipstick Molding Machines Market - The global lipstick molding machines market is growing at the backdrop of flourishing beauty and cosmetic industry across the globe. In addition, lipstick molding machines has increased production efficiency of manufacturing units.
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.
Contact Us:
Future Market Insights, Inc
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
