Dublin, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The "Stick Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global stick packaging market has experienced robust growth, reaching a market size of US$ 1.4 billion in 2022. It is poised for continued expansion, with an expected compound annual growth rate (CAGR) of 6.5% during the forecast period of 2023-2028, eventually achieving a total valuation of US$ 2.1 billion.
Key Market Drivers:
- Significant Growth in the Food and Beverage Industry
- Increasing Demand for Flexible Packaging
- Shift from Rigid to Flexible Stick Packaging
- Product Innovations
Stick packaging involves tube-shaped, sealed, and flexible containers designed to store various dry, liquid, and semi-liquid products in small quantities. It serves as a convenient, on-the-go, and single-serve packaging solution, typically manufactured using materials such as paperboard, polyethylene, polyester, polypropylene, aluminum foil, or plastic.
Stick packaging offers cost-effectiveness, sustainability, convenience, and a lower carbon footprint compared to traditional packaging materials. It is also known for its effectiveness in reducing spoilage due to moisture, contamination, and wastage. As a result, stick packaging finds wide-ranging applications across industries including pharmaceuticals, nutraceuticals, food and beverages, and consumer goods.
Market Trends:
The growth of the food and beverage industry has been a significant driver of the stick packaging market. Additionally, the rising demand for flexible packaging solutions is fueling market growth. The shift in preference from rigid to flexible stick packaging is driven by cost-effectiveness, aesthetics, customization, durability, and portability.
Furthermore, various product innovations, including environmentally friendly stick packaging and multi-laminated films resistant to moisture and oxygen, are contributing to market expansion. Manufacturers are developing variants that extend the shelf life of contents, making them ideal for pharmaceutical and nutraceutical products.
Other factors contributing to market growth include rapid urbanization, increased disposable incomes, and a growing demand for single-serve packaging. These trends are expected to continue to drive the market in the coming years.
Key Market Segmentation:
- Material Type:
- Polyester
- Biaxially Oriented Polypropylene (BOPP)
- Paper
- Aluminum
- Metallized Polyester
- Polyethylene
- Polypropylene
- Others
- Filling Type:
- Powder
- Liquid
- Tablets
- Capacity:
- 0 - 5 ml
- 5 ml - 10 ml
- 10 ml - 15 ml
- 15 ml - 20 ml
- 20 ml and Above
- Application:
- Food and Beverages
- Pharmaceuticals
- Consumer Goods
- Nutraceuticals
- Others
- Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- North America
Competitive Landscape:
The report provides a comprehensive analysis of the competitive landscape within the global stick packaging market. It covers various aspects of competition, including market structure, market share among key players, player positioning, top-winning strategies, a competitive dashboard, and company evaluation quadrant. Detailed profiles of major companies such as Aaron Thomas Company Inc., Amcor, Ball Corporation, Berry Global, Constantia Flexibles Group GmbH, Fres-co System USA Inc., GreenSeed Contract Packaging, Huhtamaki OYJ, Mondi Plc, Smurfit Kappa Group, Sonoco Products Company, and Winpak Ltd. (Wihuri Packaging Oy) are included in the report.
Key Questions Answered in This Report:
- How has the global stick packaging market performed to date, and what are the growth prospects?
- What impact has COVID-19 had on the global stick packaging market?
- Which regions show the most potential in the market?
- What is the market breakdown by material type and filling type?
- How is the shift from rigid to flexible stick packaging impacting market growth?
- What product innovations are driving market expansion?
- How are rapid urbanization and increased disposable incomes contributing to market growth?
- What role is single-serve packaging playing in the pharmaceutical and nutraceutical sectors?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $1.4 Billion |
| Forecasted Market Value (USD) by 2028 | $2.1 Billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/3v7gx2
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