The confectionery packaging market is anticipated to expand its roots at an average CAGR of 4.4% between 2023 and 2033. The market is expected to have a market share of US$ 17.50 billion by 2033 while it is likely to be valued at US$ 11.37 billion in 2023

·         The latest packaging innovations with the usage of paper and bio-plastics are expected to transform confectionery packaging. Furthermore, the renewable and recycled materials used in designing customizable packaging solutions are also trending in the market.

·         The expansion of the confectionery sector post-pandemic with new product launches in the market is increasing the sales of confectionery packaging solutions. Also, the brand’s commitment to limiting the environmental impact of its packaging is pushing them to innovate.

·         Some of the vendors are focusing highly on the specialization of the packaging that they let the end user design their designs and texts. Alongside this, the lightweight, enhanced texture, and usage of a minimal amount of plastic are some of the key drivers for the market growth

·         New packaging innovations for products like candies and chocolates such as twist-wrapped, double-layered, paper packaging are gaining traction in the market space. Some of these features include the usage of paper-based material and the matt & gloss effect.

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Key Takeaways

1.      The United States market leads the confectionery packaging market in terms of market share in North America. The United States region held a market share of 17.3% in 2022. The growth in this region is attributed to expanding confectioneries, sustainable packaging businesses, and the government’s ban on limited plastic control. North American region held a market share of 18.7% in 2022.

2.      Germany’s market is another important market in Europe region. The market held a market share of 6.1% in 2022. The growth is caused by high tourist footfall and the existence of old popular confectioneries. Furthermore, Europe region also held a 36.4% global share in 2022.

3.      India’s confectionery packaging market thrives at a CAGR of 7.4% during the forecast period. The growth is attributed to high investments and innovative packaging businesses.  

4.      China market also thrives at a CAGR of 6.5% between 2023 and 2033. The growth is caused by the government’s efforts for sustainable and eco-friendly packaging.

5.      Based on material type, the plastic material segment held the leading market share of 54.5% in 2022. The growth is attributed to high affordability, availability, and flexibility.

6.      Based on the confectionery type, the chocolate confectionery segment leads the market as it held a leading market share of 45.7% in 2022. The growth is caused by the high consumption of chocolate.  

Competitive Landscape:

The key vendors focus on delivering eco-friendly packaging that is custom-made.  Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments:

·         Amcor plc has extended its snacks and confectionery range in Europe with barrier materials and packaging formats. These packaging formats are available for sweets, snacks, and nuts.

·         Sealed Air Corporation has acquired Liquibox, a global leader in the flexible packaging industry. The acquisition is expected to dispense many solutions for fresh packaging innovations. The acquisition is expected to enhance the supply chains

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