Semi-Autonomous Vehicle Market 2020-2030 | 48.3% of High CAGR, COVID-19 Analysis, Emerging Technologies, Profit Growth, Segments, Share, Trends, Business Strategies and Regional Forecast

 Global Semi-Autonomous Vehicle Market Size, 48.3% CAGR, Research Report: Information by Component (Camera, LiDAR, Radar, Ultrasonic Sensor and others), ADAS Features (Lane Assist, Crash Warning System, Adaptive Cruise Control, Smart Park Assist, Cross Traffic Alert, Automatic Emergency Braking and others), Automation Level (Level 1, Level 2 and Level 3), Propulsion (ICE and Electric) and by Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2030

Market Synopsis

The focus on vehicle safety to reduce the number of road accidents and associated deaths and the regulations incorporating safety features in vehicles are factors driving the global semi-autonomous vehicle market during the forecast period. Furthermore, the increase in demand for efficient driving experience, the need for better fuel efficiency and the increased integration of advanced technology in the automotive sector are expected to contribute to market growth. The semi-autonomous market size of vehicles can however be hindered by the greater price of semi-autonomous vehicles and the lack of information technology, communication infrastructure in emerging countries. Increasing demand for connected cars during the forecast period is expected to create an opportunity for the global semi-autonomous vehicle industry.

The Global Semi-Autonomous Vehicle Market is expected to Progress with 48.3% CAGR from 2020–2030.

Over the forecast period, the global semi-autonomous vehicle market is expected to experience rapid growth, driven by the surge in demand for sophisticated and advanced technology, increased expenditure on research and development and an increasing inclination towards minimal driving errors. Growing global vehicle demand in both developed and developing countries, combined with the increasing need for highly secure cars and strict global government standards, is expected to fuel market growth during the peri forecast. High infrastructure and vehicle costs, however, are posing an obstacle to the rapid growth of the global semi-autonomous vehicle market. Such vehicles' high maintenance costs could further hinder demand growth as certain parts of these vehicles are complex and often custom-made, making them very costly. Customers' trust and dependency on technology to eliminate partial or full vehicle control will also play a major role in shaping the market dynamics of semi-autonomous vehicles.

Competitive Dashboard

The major Players in the global semi-autonomous vehicle market are Mercedes-Benz (Germany), Continental AG (Germany), NXP Semiconductor (the Netherland), Daimler AG (Germany), Valeo (France), ZF Friedrichshafen AG (Germany), Magna International (Canada), Tesla (US), Waymo LLC (US), Texas Instruments (US), BMW (Germany), General Motors (US), and Audi AG (Germany).

Segmental Analysis

The global semi-autonomous vehicle market is segmented according to component, ADAS features, level of automation, propulsion, and region. The global market was segmented by component into camera, LiDAR, radar, ultrasonic sensor, and others. The global market has been segmented on the basis of ADAS technologies into crash warning system (CWS), lane assist (LA), smart park assist (SPA), adaptive cruise control (ACC), cross-traffic alert (CTA), automatic emergency braking (AEB) and others. The global market has been segmented according to the level of automation as Level 1, Level 2, and Level 3. The global market was segmented as ICE and hybrid based on the propulsion.

Regional Outlook

Geographically, the global demand for semi-autonomous vehicles was segmented into four major regions, North America, Europe, Asia-Pacific and the rest of the world. Thanks to the large consumer base and high disposable per capita income, North America is projected to dominate the global semi-autonomous vehicle market over the forecast era, boosting demand for high-end vehicles. Such a scenario makes local and international automotive OEMs investing in R&D, a necessity for optimizing their business potential. Asia-Pacific is also projected to report the highest growth rate in the forecast era, owing to the concentration of the global technology innovators on investing, testing, and commercializing the semi-autonomous technology. Furthermore, this area is home to proven auto-makers including Nissan, Honda and Toyota among others, who offer semi-autonomous characteristics. Increasing awareness of vehicle safety across major countries contributes to market growth for Asia-Pacific. It is predicted that changing lifestyles and growing emphasis on developing road infrastructure will fuel semi-autonomous market growth in the coming years. 

Table of Contents

1.Executive Summary

2.Scope of the Report

2.1. Market Definition

2.2. Scope of the Study

2.2.1. Definition

2.2.2. Research Objective

2.2.3. Assumptions

2.2.4. Limitations

2.3. Research Process

2.3.1. Primary Research

2.3.2. Secondary Research

2.4. Market Size Estimation

2.5. Forecast Model

3.Market Landscape

3.1. Porter’s Five Forces Analysis

3.1.1. Threat of New Entrants

3.1.2. Bargaining Power of Buyers

3.1.3. Threat of Substitutes

3.1.4. Segment Rivalry

3.1.5. Bargaining Power of Buyers

3.2. Value Chain/Supply Chain Analysis

4.Market Dynamics

4.1. Introduction

4.2. Market Drivers

4.3. Market Restraints

4.4. Market Opportunities

4.5. Technology Trends

Continues….

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Corrugated Handle Box Market 2020-2025 | COVID-19 Analysis, Opportunities, Size, profit Growth, Business Strategies, Revenue, Challenges, Segments, Future Plans and Regional Forecast

 Global Corrugated Handle Box Market Research Report: Information by Material (Kraft Paper, Containerboard, Corrugated Board, Recycled Paper and Molded Fiber Pulp and others), Capacity (0–5 KG, 5–25 KG, 25–50 KG and Above 50 KG), End User (Agriculture, Chemical Industry, Food and Beverages, Pharmaceuticals, Personal Care, Retail Industry and others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2025

Market Overview

The global corrugated handle box is growing continually. The market growth attributes to the growing e-commerce and packaging industry. Corrugated boxes are primarily used for proper handling and transportation of goods. Besides, the rising usages of corrugated boxes in packaging solutions drive market growth. Moreover, the growing number of food franchises and rising consumer inclination towards takeaway food consumption escalate the market growth to furthered height.

According to Market Research Future (MRFR), the global corrugated handle box market was valued at approximately USD 35 BN in 2018, which would appreciate further at 4.2% CAGR during the forecast period (2019–2025). Rapid urbanization and the growing retail industry are some of the key growth drivers for the market. This corrugated handle box packaging type has proven to be far more effective for protecting goods & fresh produces. Increasing demand for corrugated handle boxes from the fresh food industry pushes market growth.

Additionally, the rising population and per capita income that increases consumer purchasing power increase the market size. Also, growing applications in burgeoning industries, such as personal care, food & beverages, Pharmaceuticals & healthcare, electronic goods, and paper industry, boost the market growth. In addition, increasing applications of corrugated handle boxes, ranging from pallets to children' s toys to furniture, foster the growth of the market.

Major Players

Players leading the in the global corrugated handle box market include Reid Packaging (US), Guangzhou Bosing Paper Printing & Packaging Co., Ltd (China), Unicraft (India), WH Skinner (UK), GWP Group (United Kingdom), Allen Field Company, Inc. (US), Shanghai Forests Packaging Group Co., Ltd (China), CBS Packaging (United Kingdom), Riverside Paper Co., Inc. (US), and Planet Paper Box GROUP Inc. (Canada), among others.

Industry/ Innovation /Related News: 

July 01, 2020 ----    Soft box Systems Ltd. (the UK), a temperature control packaging solutions provider for pharmaceutical, cold chain logistic industries, and life science, launched a recyclable temp-control box Tempcell™ ECO made of 100 percent corrugated cardboard and utilizes Soft box Thermaflute™ patent-pending plastic-free insulation technology. Amidst growing sustainability movements to reduce waste, reuse, recycle, and recover. Hence TCP solution was developed to use less material in design and does not require any specialist recycling. 

Raw material can be collected and recycled by your local authority. Simultaneously, the ECO packaging solution is designed for wide-stability temperature-sensitive pharmaceutical products. Easy to assemble and recycle once used, Tempcell™ comes in a flat-packed format to help save space during transport, delivery, and storage.  

Segments

The report is segmented into four dynamics.

By Capacity: 0–5, 5–25, 25–50, and Above 50 KG.

By Material: Containerboard, Kraft Paper, Corrugated Board, Recycled Paper & Molded Fiber Pulp, and others.

By End User: Chemical Industry, Agriculture, Food & Beverages, Personal Care, Pharmaceuticals, Retail Industry, and others.

By Regions:  North America, Europe, APAC, and Rest of the World.

Geographical Analysis

The Asia Pacific region dominates the global corrugated handle box market. The largest market share attributes to the burgeoning e-commerce industry fueled by the increasing cross-border trade and massive demand for online shopping. Besides, the retail sector in countries such as China and India propel market demand. Moreover, the rapidly growing packaging industry in the region substantiates the growth of the market. The APAC corrugated handle box market is projected to retain its dominance throughout the review period.

North America stands second in the global corrugated handle box market. The market is driven by the presence of tier 1 corrugated handle box manufacturers, such as Allen Field Company, Inc. (the US), Reid Packaging (US), Riverside Paper Co., Inc. (the US), and Planet Paper Box GROUP Inc. (Canada). These manufacturers strengthen their market position through strategic alliances to expand their global presence and develop new packaging solutions for their customers. The US holds the major share in the regional market. The North American corrugated handle box market is expected to register a substantial CAGR during the assessment period.

Competitive Analysis

Highly competitive, the corrugated handle box market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/ technology launch. They strive to develop cost-efficient manufacturing techniques that can reduce production cost & time and wastages.  Also, they take care of ecological norms and reinforce corrugation inside the panels, which reduces cost and increases the strength or durability. To survive and create new market opportunities, manufacturers rely on innovation. Therefore, they keep themselves abreast of the latest technological developments and latest consumer trends by developing human capital.

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Vehicle Tracking System Market 2020-2025 | COVID-19 Analysis, Application, Business Opportunities, Size, Share, Trends, Growth, Emerging Technology, Segments and Regional Forecast

 Global Vehicle Tracking System Market Research Report: Information by Type (Active and Passive System), by Technology [Global Navigation Satellite System (GLONASS), Global Positioning System (GPS), Connectivity Technology and others], by Propulsion (ICE and Electric Vehicle), by Vehicle Type (Passenger Car and Commercial Vehicle), by Application (Residential and Commercial) and by Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2025

Market Analysis

The global vehicle tracking system market is predicted to grow at a healthy CAGR between 2019- 2025, as per the recent Market Research Future (MRFR) analysis. A vehicle tracking system, simply put, is a defense system for the car against malicious, external threats to safeguard the car in every possible way. This system comprises detection, prevention, & response to threats using different technology such as connectivity technology, global positioning system (GPS), global navigation satellite system (GLONASS), and others that are widely used in commercial and residential industries. 

Various factors are propelling the global vehicle tracking system market growth. According to the latest MRFR report, such factors include the rising concerns about vehicle security and safety, increase in fleet operations in emerging nations, demand for electric cars, and growing production & sales of commercial and passenger cars globally. Additional factors propelling market growth include the growing need for semi-autonomous and autonomous cars, the launch of 5G for car connectivity, the presence of developing economies of emerging countries, and cloud computing-based stolen car tracking systems. 

On the contrary, the impact of the COVID-19 outbreak, high cost, privacy, and network security issues & lack of GPS accuracy for challenging weather conditions are factors that may limit the growth of global vehicle tracking system market during the forecast period. 

Key Players 

Leading players profiled in the global vehicle tracking system market report include TRACK GROUP (US), US Fleet Tracking (US), Inseego Corp. (US), Geotab Inc. (Canada), Spireon, Inc. (US), Verizon Communications Inc. (US), Robert Bosch GmbH (Germany), Continental AG (Germany), Cartrack Holdings Limited (South Africa), and AT&T Inc. (US). 

Market Segmentation

The MRFR report provides an inclusive segmental analysis of the global vehicle tracking system market based on application, vehicle type, propulsion, technology, and type. 

By type, the global vehicle tracking system market is segmented into an active and passive system. Of these, the active segment will lead the market over the forecast period. 

By technology, the global vehicle tracking system is segmented into connectivity technology, global positioning system (GPS), global navigation satellite system (GLONASS), and others. 

By propulsion type, the global vehicle tracking system is segmented into electric vehicle and ICE. 

By vehicle type, the global vehicle tracking system market is segmented into the commercial vehicle and passenger car. Of these, passenger cars are predicted to dominate the market over the forecast period. 

By application, the global vehicle tracking system market is segmented into commercial and residential. 

Regional Analysis 

Based on the region, the global vehicle tracking system market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. The accessibility of sophisticated technologies, the presence of top manufacturers & operating units of notable players, growing demand for automobiles in India, Japan, and China, and growing adoption of luxury and premium cars are adding to the global vehicle tracking system market in the region. India, Japan, and China have the maximum share in the market. 

The global vehicle tracking system in Europe is predicted to hold the second-largest share over the forecast period, followed by North America. The rising number of car thefts coupled with burgeoning demand for new commercial vehicles are adding to the global vehicle tracking system in North America. 

The global vehicle tracking system in the Row is predicted to have sound growth over the forecast period. Expansion of international players, increased expenditure, technological changes in car security, and growing government initiatives are adding to the vehicle tracking system market growth in the region. Brazil has the maximum share in the market.  

Table of Contents

1.Executive Summary

2.Scope of the Report

2.1. Market Definition

2.2. Scope of the Study

2.2.1. Definition

2.2.2. Research Objective

2.2.3. Assumptions

2.2.4. Limitations

2.3. Research Process

2.3.1. Primary Research

2.3.2. Secondary Research

2.4. Market Size Estimation

2.5. Forecast Model

3.Market Landscape

3.1. Porter’s Five Forces Analysis

3.1.1. Threat of New Entrants

3.1.2. Bargaining Power of Buyers

3.1.3. Threat of Substitutes

3.1.4. Segment Rivalry

3.1.5. Bargaining Power of Buyers

3.2. Value Chain/Supply Chain Analysis

Continues…..

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Global Plastic Packaging Market Research Report |COVID-19 Impact, Outlook and Future Scope Analysis Forecast till 2022

 Overview:

Plastic packaging plays a significant role in the cost-effective packaging of food & beverages and healthcare products. Market Research Future (MRFR) reports that the global plastic packaging market is expected to cross the USD 400 Bn mark, at a growth rate of CAGR 5% over the forecasted period (2016-2022). The rise in manufacturing activities and conveniently packaged products, is going to play a noteworthy role in the market expansion of plastic packaging.

Drivers and Restraints:

Plastic serves as a more hardened, cleaner, and aesthetically appealing mode of packaging and the favored choice of many in the food and beverage industry. The durability and strength it offers are superior to other products in the same price band. It is also available in various forms, such as a pouch, plastic bags, and sachet, providing the consumer with several modes of packaging.

The booming healthcare industry can also become a profitable area for the plastic packaging industry. Plastic is better than glass when it comes to reducing the probability of damage, leaks and maintaining hygiene. For IV tubes, syringes, IV bags, plastic packaging is the most preferred option.

However, fluctuating price of the raw material, such as petroleum and crude oil can impede the growth during the forecast period.

Industry News:

A shift in demography and rising economy can be key determinants influencing the trends of the regional market. E-commerce has now become a popular choice and influencing the rigid plastic market in a major way. Increasing demand for gadgets, apparels, and personal goods have resulted in better rigid plastic packaging solutions for safe shipping.

However, there is mounting pressure from the consumers on the manufacturers regarding the carbon footprint. It has driven the plastic manufacturers towards developing bioplastics and investing in recyclable products.

Segmentation:

The global plastic packaging market could be segmented based on type and application.

Based on the type, products can be segmented into rigid packaging and flexible packaging. Rigid packaging is expected to generate the largest share of revenue. End-users prefer rigid packaging the most. The proliferation of rigid plastic market into the beverage sector is based on the expectation of it being of high quality, hygienic and healthy. The retail sector is also expected to boost the growth of this segment during the forecast period.

Application-wise segmentation includes food & beverages, industrial, healthcare, personal care and others. Among these, food & beverage sector has recorded the highest percentage of the global revenue in 2015 and expected to surge further during the forecast period. With rapid urbanization, the demand for packaged food is also growing. This shift in consumer habit has spurred a growth in the global market. Rapid growth in the pharmaceutical industry can bolster the growth rate of healthcare plastic segment in the coming years.

Regional Analysis:

Region-wise segmentation results in four prominent groups; North America, Europe, Asia Pacific, and Rest-of-the-World (RoW). Asia Pacific is playing the pivotal role in this market by generating the maximum amount of revenue for the global plastic packaging market. In this region, China will experience tremendous growth. Factors such as urbanization, rising disposable income, and growing population are about to play a significant role in the growth of this market. India and Indonesia are also going to witness similar growth rate as packaging demand in the personal care segment is on the rise.

Europe is currently experiencing a staggering demand for rigid packaging from food & beverage sector, which is going to boost their market prospect.

North America was the previous market leader and expects to showcase a steady growth rate during the forecast period.

Market Overview:

Major manufacturers are focusing on enhancing their portfolio and strengthening their market position through strategic mergers and acquisitions. For instance, Sealed Air Corp. acquired Deltaplam Embalagens Indústria e Comércio Ltd., in 2017 securing a better position in Latin America. Mondi Group had acquired Excelsior, a United Kingdom-based company, to expand their market portfolio.

Key players who are currently impacting the global plastic packaging market are Amcor Ltd, BASF SE, Crown Holdings Inc., Saint-Gobain, Bemis Company Inc., Huhtamaki Oyj, Mondi Group, Sealed Air Corporation, Sonoco Products Company, Constantia Flexibles International GmbH, Ampac Holdings LLC and Wipak Group.

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Global Baby Food Packaging Market Research Report |COVID-19 Impact, Outlook and Future Scope Analysis Forecast till 2022

 Overview

The global baby food packaging market has been receiving a lot of recognition lately due to the expansion of the packaging industry. Statistically, the CAGR and estimated market turnover figures confirm this fact. During the forecast span of 2017-2022, baby food packaging market will come across several growth prospects that will help in its progression.

Some of the chief factors that fuel the growth of this market are the hike in the demand for convenience products and the need for food safety. Additional factors like rising health awareness, especially regarding food hygiene, convenience of use and reusability further drive the growth of this market.

Market Segmentation

The worldwide market for baby food packaging has been segmented into four different parts. Each of these has sub-segments for itself respectively and they have been enlisted below:

By sealing & handle – Heat seal, zipper top, spout top and patch handle.

By material type – Glass, polymer, metal and paper.

By raw material – Flexible packaging material, glass packaging material, rigid plastic packaging material, packaging paperboard material and metal packaging material. Flexible packaging material has an edge over the others and accounts for the largest share of the market. Rigid plastic packaging material holds the most dominant position after flexible packaging.

By Application – Powder milk, liquid milk, and dried baby food. Out of the three, the powder milk sub-class grabs the largest chunk of market share and the main reason for this is the easy availability and effectiveness of this product.

In-depth Geographical Analysis

The baby food packaging market has established itself as a leader across the globe. It has very effectively expanded to some of the most important areas of the world like North America, Europe, Asia Pacific and Rest of the World.

According to the research report released by Market Research Future, North America is at the forefront in terms of geographies. The market in this region is expected to grow substantially during the forecast period at a promising CAGR. This region owes its growth to the increased demand for baby food products there.

Europe comes second in line after NA and accounts for the second largest portion of the market share. Asia Pacific is expected to attain considerable growth during the upcoming projection span. China will lead this region towards success and will rope in the maximum business. Higher awareness amongst the masses regarding the benefits of baby food products and higher need for convenience baby edible products tend to further help in the region’s progression.

Industry News

April 11, 2018 – The latest news for this industry has come in from America. A major market player called Little Roots just launched a brand new packaging solution. This product was devised to act as a healthy alternative to the conventional pouches that are being for baby food packaging. It has launched baby food bulbs that have proven to be far more effective than the conventional pouches. The industry experts believe that this product will gain popularity in a short span of time. And in future, this will garner benefits for the market.

Market Players & Key Strategies

The worldwide market for baby food packaging is quite a competitive arena and the stakeholders of this market have to deal with cutthroat competition to survive here. Some of the brands that survived and have made a name for themselves are ITC Ltd Paperboards, Essel Propack Limited, Cascades Inc., and Hindustan National Glass & Industries Ltd.

The players of this market employ certain growth strategies like strategic expansion, acquisition and alliance with other companies to garner the best results for their business.

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Global Soft Drink Packaging Market Research Report |COVID-19 Impact, Business Revenue, Future Scope, Market Trends, Key Players, and Forecast till 2021

 Overview

                                                                                                            
Soft drinks are non-alcoholic drinks, including CSDs, juices and concentrates, ready-to-drink (RTD) tea and coffee, and functional drinks. The proper packaging of soft drinks provide product support, external environment protection, and tamper resistance.

The demand for soft drinks is increasing globally owing to factors such as Increasing population, rapid urbanization and rising disposable income had led to increase in demand for soft drinks products across the world. Efficient packaging solutions offer benefits like ease of use, disposability and enhanced user experience. These benefits has led to growth in demand of packaging solutions for soft drinks segment.

Majority of the soft drinks packaging is done in cans. Refillable PET bottles are also very popular for packaging of soft drinks. In many parts of the world, recycling is considered important due to which many soft drink cans and bottles include a deposit. To ensure that the empty bottles are refunded, the reverse vending machines are installed at the entrances of most supermarkets. Increasing disposable income of middle income group, rapid urbanization and packaging innovations are the key factors driving the soft drink packaging market.

Soft drinks Packaging Market – Competitive Analysis

The global soft drinks packaging market is extremely competitive due to the presence of many vendors involved in the packaging of soft drinks. Many new vendors are emerging in the market, but it is difficult for them to compete with international vendors in terms of features, functions, and services. The competition in the global market is expected to intensify with increase in product extensions, innovations in technology, an increase in product extensions, and mergers and aquisitions.

Industry/ Innovation/ Related News:

December 2017- Coca-Cola teamed up with Ardagh to create the most eye-catching packaging presentation for its limited edition Star Wars: The Last Jedi Coca-Cola Zero Sugar bottles. Each shaped aluminium bottle uses the award winning high definition, high resolution printing expertise of Ardagh’s specialist plant in Beaurepaire, France to feature one of the film’s 6 main characters.

June 2017- CROWN Beverage Packaging, launched an easy to open crown to help beer manufacturers deliver a unique opening experience to consumers. The technology represents a modern advancement of the bottle cap, to improve the packaging of carbonated soft drinks and beer.

April 2017- Allied Glass Containers has secured a £75m debt package from Investec to support its growth plans. The Yorkshire-based specialist manufacturer and distributor of glass bottles and containers to the premium spirits and food & beverage sector produces 600 million bottles per annum across 450 product lines, and is focusing on growth in the global whisky and gin markets.

December 2016 - Amcor Rigid Plastics has launched a new range of crystal clear polyethylene terephthalate (PET) stock bottles and preforms. PET beverage collection is available in round, hourglass, and square shapes and comes in four sizes (12oz, 16oz, 32oz, and 64oz). Three filling types include cold-fill for dairy and juice, aseptic for dairy and juice, and high-pressure processing (HPP) for juice.

September, 2015 - Owens-Illinois, Inc. today announced that it has completed the acquisition of the Vitro food and beverage glass container business from Vitro, S.A.B. de C.V. in a transaction valued at approximately USD 2.15 billion. The transaction includes Vitro’s five food and beverage glass container plants in Mexico, a plant in Bolivia and the food and beverage business of Vitro Packaging, its North American distribution business based in Plano, Texas.

Soft drinks Packaging Market – Segmentation

The Soft drinks Packaging Market can be segmented in to three key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Material - Glass, Plastic, Metal, Paperboard, and others

Segmentation by Type - Rigid packaging and Flexible Packaging

Segmentation by Application - Carbonated soft drinks, Functional drinks, Juices, and others

Segmentation by Regions: North America, Europe, APAC and Rest of the World.

Soft drinks Packaging Market – Regional Analysis

Asia Pacific region is expected to dominate the growth of the global soft drinks packaging market owing to growing number of soft drinks consumers in the region. Large population base with increasing disposable income, low cost of production owing to the easy availability of inexpensive technical labor is expected to further drive the soft drinks market in the region.

The emergence of local players across different countries in the region is leading to an increase in competition among global manufacturers. Adoption of Innovative packaging presents many opportunities for the manufactures to increase their foothold across the globe.

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Global Confectionery Packaging Market Research Report |COVID-19 Impact, Outlook and Future Scope Analysis Forecast till 2021

 The Confectionery Packaging market is forecasted to demonstrate a stunning growth by 2021, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2021).

Overview

The Confectionery Packaging Market is used to pack various confectionery items such as Flour confections, Chocolate confections, Sugar confections, and others. There are two different packaging used to pack the confectioneries which includes rigid packaging and flexible packaging. Flexible packaging is one of the fastest growing segments of the packaging industry and it integrates the best qualities of plastic, film, paper and aluminum foil to offer an extensive range of protective properties. It essentially takes the shape of a bag, pouch, liner, or overwrap, or any part of a package whose shape can be readily changed. Such packaging are used for consumer products and in industrial applications, to protect, market, and distribute a variety of products. According to a recent study report published by the Market Research Future, The global market of Confectionery Packaging is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2021, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2021).

Confectionery packaging has wide applications in the F&B industry, mainly due to its features such as ease of handling, reduced production & shipment costs, and eco-friendliness. Rise in demand for packaged foods & beverages including ready-to-eat meals, frozen meals, and snack foods. Increase in consumer income in countries such as China, India, and Brazil, has led to a growth in demand for good-quality packaged food. Also, the rise in population in many countries, has led to an increase in food & beverage consumption, which ultimately increases the demand of confectionery packaging products.

Technological advancements in packaging plays a vital role in driving the growth of confectionery packaging market. Advanced technology in packaging has allowed companies for innovation in products instead of sticking to traditional methods of packaging. Due to this, many companies are investing in R&D and are coming up with advanced flexible packaging products with barrier resistance properties that offer resistance against heat and moisture and eliminates oxidation of foods. Such properties prove effective in maintaining the quality and consistency of food products while extending their shelf life without the use preservatives. Recent advancements in materials and production processes have reduced the weight of some confectionery packages up to 50%, subsequently lowering product shipping costs while maintaining or improving product protection.

Plastic is the most largely used material in confectionery packaging. Associations such as U.S. Food and Drug Administration, and European Food Safety Authority have put some stringent regulations, which may restrict the growth of flexible packaging. For example, materials made either entirely or partially from recycled plastics and used in contact with food, should only be obtained from processes, which have been assessed for safety by EFSA and authorised by the European Commission. Regulation EC 282/2008 establishes rules for the authorisation of processes used to recycle such materials. This restricts the use of all types and grades of plastic and hampers the plastic confectionery packaging market.

Industry/ Innovation/ Related News:

The key strategies followed by most companies within the global confectionery packaging market are that of new product development.

On 31st March 2017, Sonoco had launched a new portfolio of clear barrier flexible packaging that is ClearGuard so as to provide a transparency to the customers when providing best-in-class barrier properties for products

On October 2016, Coveris launched Nextrus Boneless Shrink bags so as to offer innovation in sustainability and performance of the products.

Segmentation

The global confectionery packaging market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

By Material: Comprises Metal, Paper, Plastic, and others.

By Type: Comprises Rigid packaging and Flexible Packaging.

By Confectionery items: Comprises Flour confections, Chocolate confections, Sugar confections, and others.

By Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Regional Analysis:

In North America, U.S. accounts for the second largest share in confectionery packaging market. Factors such as rising the consumer preferences for convenient packaging, increase in disposable income, and rising demand from food & beverage, pharmaceutical sectors are some factors driving the demand of the market in U.S. Europe is expected to be the second largest market in confectionery packaging due to innovation and development of personal care, hygiene and beauty products. Increased demand for consumer-friendly products which are lightweight and easily transportable, growing focus on sustainability, the increased need for extended shelf life, and rising standards of hygiene are the major drivers of confectionery packaging market.

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