Future Market Insights
Cake boxes market: Introduction
The cake boxes market is vastly driven by the development of bakery & confectionary industries. To expand geographical outreach, manufacturers of cake boxes are focusing on product innovation and technological advancement. Cake boxes are used for the transportation of cakes at relatively reduced cost. Furthermore, cake boxes are light in weight yet sturdy to provide protection to delicate cakes. The cake boxes manufacturers are able to endow various shapes to the products such as square, round etc. cake boxes packaging materials are recyclable and reusable reducing the material, making it economical for cake boxes manufacturers. The cake box packaging allows the consumers to reduce the labour cost and time due to its easy to use and convenient packaging. The cake box packaging allows the manufacturers to keep the product neatly and in place. Cake boxes packaging keeps the product hygienic which is more appealing to the consumers. Further adding to this, cake boxes have barriers properties such as moisture resistant, dust-free etc. keeping the product fresh.
Cake boxes market: Dynamics
Global food packaging industry worth over US$ 250 bn and is expected to grow at CAGR of over 5% for the forecast period. The growth of bakery & confectionary industry is demanding consumer preference for easy to use and convenient packaging have resulted in the growth of cake boxes market. Moreover, increasing consumer preferences towards online and home shopping have resulted in increasing market share of cake boxes market wherein consumers look for safe product delivery. Cakes boxes are easy to use and provide convenience in packaging, thus driving the growth of cake boxes. One of the properties of cake boxes is that they can be stacked when not in use occupying less space, thus influencing the consumer preference towards cake boxes. Cake boxes have barrier properties such as moisture resistant, dust resistant which helps in keeping the product hygienic. In addition to the barrier properties, cake boxes are easy to pack and open, thus increasing the efficiency of end-users such as bakery & confectionary producers. Consumer preferences towards bio-degradable packaging may incline the manufacturers to focus on innovation and technology. Factors leading to the propelling demand for cake boxes are that cake boxes are recyclable and reusable. Cake boxes offer convenient solution to manufacturers eyeing for cost reduction as cake boxes are light in weight, thus reducing the transportation cost.
However, the restraint that cake boxes manufacturers’ faces is the durability of cake boxes. Cake boxes cannot withstand rough conditions and can damage the product inside. Government stringent regulations against the use of plastic boxes may hamper the market share of plastic cake boxes.
Cake boxes market: Segmentation
Cake boxes market can be segmented on the basis of material type, product type, and region.
On the basis of material type, cake boxes can be segmented as
On the basis of product type, cake boxes can be segmented as
Cake boxes market: Regional outlook
Cake boxes market has been segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. North America region is expected to dominate global cake boxes market over the forecast period. Europe is expected to follow North America and is expected to show significant growth over the forecast period. Increase in food and beverage industry in the APAC region offers a potential opportunity for cake boxes manufacturers to penetrate into the region.
Cake boxes market: Key players
Some of the global players in the field of the cake boxes market are Smurfit kappa group, WestRock Company, Sabert Corporation, WPackaging, Salazar Packaging Inc., International Paper, Mondi Group etc.
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