Published Date : Sep 26, 2016
ALBANY, NY, Sep 26, 2016: MarketResearchReports.biz has recently announced the inclusion of a new market intelligence report to its vast repository of research studies. The 63-page research study, titled “Global Bakery Packaging Market 2016-2020,” provides an in-depth evaluation of the market, focusing on its growth prospects and limitations. The introduction of sustainable packaging solutions offered by the leading market players is expected to drive the global bakery packaging market in the forecast period.
As per the research report, the global market for bakery packaging is expected to register a 4.0% CAGR between 2016 and 2020. The historical performance and forecast statistics of the global bakery packaging market have been presented in the study with the help of charts, tables, and infographics.
The emergence of small-sized and multipacks and increased shelf-life of products with enhanced atmosphere packaging are some of the primary factors propelling the global bakery packaging market. However, the increasing cost of wood and plastic resin, rigid government regulations, and the maintenance of product freshness are restricting the growth of the overall market. Nonetheless, the advent of innovative packaging design and material and business expansion by key players are estimated to generate potential growth opportunities in the coming few years.
By material, the global bakery packaging market has been categorized into rigid plastic, flexible, and metal. In 2015, the flexible segment led, accounting for 50% share of the global bakery packaging market. This segment is expected to remain in the leading position throughout the forecast period, owing to the rising demand for flexible retorts, plastic tubs, and stand-up pouches. Moreover, several benefits such as energy consumption, low cost, and capability to provide a reduction in landfill waste are expected to boost the demand for flexible and reusable packaging products in the coming few years.
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Among the key geographical segments, the Americas are expected to lead the global bakery packaging market and register a 3.0% CAGR between 2016 and 2020. The rising demand for single-serve and multipacks is projected to fuel the growth of this segment throughout the forecast period. Additionally, several states in the U.S., namely Wisconsin, California, and Idaho are expected to generate a dominant share in the market’s revenue by the end of 2020. On the other hand, Latin America is expected to witness strong growth in the near future.
The global bakery packaging market is highly competitive and fragmented in nature with the presence of a large number of local and international players. The leading players in the market are expected to adopt effective promotion and marketing strategies and offer enhanced products in order to sustain in the market and fulfil consumer expectations. The prominent players in the bakery packaging market across the globe include Smurfit Kappa, Mondi, Bemis, Amcor, and Reynolds Group (Pactiv). Some of the other players mentioned in the research study are Brow Packaging, Sydney Packaging, NAPCO, Benson Box, WestRock, Unger, Wipak, and Genpak.
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