Global Confectionery Packaging Market By Raw Material (Glass, Plastic, Metal, and Paper & Board), By Application (Flour, Chocolate, Gum, Candy, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Confectionery Packaging Market Overview

The 2021 global confectionery packaging market value was US$ 10,569 million. This market is expected to grow at a CAGR of 3.75% between 2023-2032.

Market growth is being driven by rising demand in India, China, and Brazil for chocolates and candies as well as bakery products and other sweet food items. Constant product innovation in the confectionery industry has increased the market scope for confectionery packaging around the globe.

Global Confectionery Packaging Market Analysis

Raw Material Analysis

The most commonly used raw material in this industry was plastic. Plastic accounted for more than 49% of global revenue in 2021. Due to its lightweight and water-resistant properties, it is preferred by confectionery producers. There have been many innovations in plastic over the past few decades. Some of the most popular innovations in the plastic industry include polyester or polyethylene terephthalate, polyolefins, and nylon.

Its non-degradable property of plastic will likely hinder its growth in the future. The industry’s dominant segment, however, is expected to be the bio-degradable plastic segment. This is due to the continuous product development.

Between 2023 and 2032, the fastest projected CAGR for paper and board is 4.5%. As the public becomes more aware of the negative effects of plastic, paper and board will be in demand as raw materials for food industries. Paper and board, unlike plastic, are non-hazardous and easily recyclable. Many sweet and bakery makers prefer this raw material to plastic.

MeadWestvaco Corporation was one of the largest companies in this sector and approved Crescendo cardboard for packaging chocolates and confectionery. This fiber-mix material exhibits high durability and stiffness. It also meets European chocolate- and confectionery industry standards.

Application Analysis

Chocolate held a significant market share in 2021, according to data. E-commerce has helped to increase the global sales of chocolates in recent years. It is the most commonly purchased confectionery item through e-commerce. Chocolate industry manufacturers are investing in product innovation as well as strategic distribution channels. Mondelez International partnered with Amazon to establish a virtual sweet and chocolate shop on Amazon’s website.

Due to growing demand around the globe, the chocolate segment is expected to see the most growth over the next few years. In the near future, the chocolate and packaging sectors will be driven by a growing demand for premium and dark chocolates.

Key Market Segments

By Raw Material

• Glass
• Plastic
• Metal
• Paper & Board

By Application

• Flour
• Chocolate
• Gum
• Candy
• Other Applications

Market Dynamics

Packaging protects food items from chemical, physical, and environmental damage. The application of packaging has evolved beyond its original purpose. It is now an important component to attract consumers’ attention. This is why manufacturers in the industry use a consumer-centric approach to developing products. The Hershey Company changed the packaging candy portfolio to increase shelf appeal and usability.

A survey revealed that a lot of respondents believe appealing visual presentation is very important. Flexible and small packaging has gained considerable popularity over the years.

In the last few years, confectionery makers have been embracing environmentally-friendly products. They are working to reduce plastic waste and promote sustainable growth. Nestle was planning to launch paper packaging for its YES! snack bar. Companies around the world are constantly innovating eco-friendly packaging materials.

Regional Analysis

North America held a dominant position in the market as it accounted for 32% of global revenue. The growth of confectionery and premium chocolates will be key drivers in the future. According to the Swiss Federal Customs Office, the U.S. was the fifth largest importer of Swiss chocolates. In this region, chocolate is the most commonly given gift for major festivals like Easter, Christmas, and Valentine’s Day.

Asia Pacific is expected to expand at a rapid CAGR between 2023-2032. The region’s industry growth will be driven by rising purchasing power and rapid urbanization. However, chocolate industry leaders are expanding their businesses in the region. One example is the opening of a manufacturing facility at Singapore by Barry Callebaut Group. This group is a major manufacturer of chocolate and other cocoa products. This will allow the company to expand its production capacity and make it more competitive in the region.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Amcor Limited, Sealed Air Corporation, and Crown Holdings Incorporated are some of the prominent players that have made product innovation a key strategy in their business. Packaging protects the product and gives it a beautiful look. Manufacturers have been investing in environmentally friendly products for the past few decades. Amcor partnered with Plantic Technologies Limited for flexible packaging made of biodegradable plastic.

Маrkеt Кеу Рlауеrѕ:

• Amcor Ltd.
• WestRock
• Sealed Air Corp.
• The Smurfit Kappa Group plc
• Bemis Company Inc.
• Crown Holdings Inc.
• Berry Global Inc.
• The International Paper Company
• Other Key Players