NEWARK, Del, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The global stick packaging market value is predicted to grow from US$ 1,358.4 million in 2023 to US$ 2,028.4 million by 2033. Sales of stick packaging solutions are expected to rise at a steady CAGR of 4.3% during the forecast period.
Several factors are expected to stimulate growth of the global stick packaging market. These include expanding food & beverage, cosmetics, and pharmaceutical sectors, growing need for compact and flexible packaging solutions, and advancements in packaging technologies.
Progress in packaging technology has given rise to inventive barrier material tailored for stick packages, providing heightened defense against moisture, oxygen, and UV radiation. This ensures the preservation of product freshness and stability.
Top leaders such as Amcor are offering specialized barrier films designed specifically for stick packages. Such innovations are expected to play a crucial role in fostering growth of the global stick packaging industry.
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Differentiating a brand from its competitors is a crucial marketing strategy for companies. The effective approach to achieving brand differentiation is by utilizing distinctive and innovative packaging formats, including stick packs.
The surge in upscale quick-serve stick packs is a compelling and transformative trend that has overtaken the packaging industry. These single-serving packages are designed to seamlessly fit into busy lifestyles, offering unmatched convenience without sacrificing quality or visual appeal.
What truly sets this trend apart is its unapologetic commitment to elevating the packaging experience. These upscale stick packs prioritize sophisticated design, premium materials, and ingenious features, turning what used to be a simple utility into a reflection of elegance and functionality.
As the market for upscale quick-serve stick packs continues to flourish, it reflects the evolving desires of consumers who demand both convenience and a touch of luxury in their packaging solutions. This trend is poised to reshape the packaging landscape, providing a wealth of exciting opportunities for businesses to cater to the preferences of a discerning and fast-paced world.
Key Takeaways of Global Stick Packaging Market
- The global stick packaging market is projected to reach US$ 2,028.4 million by 2033.
- By material type, plastic segment is expected to hold a value share of 59.2% in 2033.
- By end use, food and beverage segment is set to generate revenue of US$ 720.6 million by 2033.
- North America is estimated to register a CAGR of 3.4% between 2023 and 2033.
- The United States market value is set to total US$ 407.4 million by 2033.
- Sales in India are projected to rise at 6.7% CAGR through 2033.
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“Rising demand for compact and versatile packaging solutions across diverse industries, including food & beverages and pharmaceuticals, is expected to provide impetus for the growth of the stick packaging market. Besides this, the rise of bio-based stick packaging is expected to present new opportunities for companies through 2033,” Says Ismail Sutaria, Principal consultant at Future Market Insights
Who is Winning?
- Amcor Plc
- Catalent Inc.
- Sonoco Product Company
- Huhtamaki Oyj
- Proampac Llc
- Constatntia Flexible Group
- Glenroy, Inc.
- GFR Pharma Ltd
- Unirther Pharmaceuticals SAS
- HWR Packaging Llc.
- others
are prominent stick packaging manufacturers listed in the report. The Tier 1 players hold 20% to 25% share in the global stick packaging market.
Key companies are launching new products made from using eco-friendly materials to expand their customer base. They are also implementing strategies like mergers, acquisitions, partnerships, and collaborations to strengthen their footprint. For instance,
- In April 2022, a new line of sustainable high shield laminates for pharmaceutical sachets and stick pack and strip pack packaging was introduced by Amcor Plc.
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Key Segmentations:
By Capacity:
- Up to 5 ml
- 6 ml to 10 ml
- 11 ml to 15 ml
- Above 15 ml
By Material:
- Plastic
- Paper
- Aluminum
- Others (Hybrid Material, Bio Based)
By Application:
- Solid
- Powder
- Liquid
By End Use:
- Food and Beverage
- Pharmaceutical and Nutraceuticals
- Personal Care and Cosmetics
- Other Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa
- Oceania
Global Stick Packaging Market Report
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the global stick packaging market, analyzing historical demand from 2018 to 2022 and forecast statistics for 2023 to 2033.
The study reveals growth projections on the global stick packaging market based on material (plastic, paper, aluminum, others (hybrid material, bio-based)), capacity (up to 5ml, 6ml to 10ml, 11ml to 15ml, above 15ml), application (solid, powder, liquid), end use (food and beverage, pharmaceuticals and nutraceuticals, personal care and cosmetics, other industrial), and region.
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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