Bakery Packaging Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2226
Global Bakery Packaging Market size is likely to witness a healthy CAGR over the projected timeframe. Packaging plays a vital role for attracting consumers as well as in proper storage and transportation of bakery products.
Rising consumer inclination towards packaged and frozen food products which is attributed to rapid urbanization and rising per capita consumer income primarily in the emerging economies is likely to make a prominent contribution towards bakery packaging market during the forecast period. Moreover, retailer’s preference for single serving and multipacks as they occupy low shelf space enables them to offer consumers with new and multiple varieties of bakery products in desirable quantities which will help attain significant bakery packaging market size by 2024.
Storage convenience, availability of variable sizes and affordable prices are some factors which shall positively influence bakery packaging market size in the coming years. Based on the material, bakery packaging market size is classified into flexible, rigid and metal packaging. In 2016, flexible segment accounted for the largest share of the total bakery packaging market size and is anticipated to show similar growth trends over the next few years. Rising demand of flexible retort, stand-up pouches, films & sheets, bags and plastic tubs for bakery food products packaging is a prime factor responsible for this segment’s growth. Several value-added benefits of flexible packaging include lightweight, which lowers the overall transportation cost and eventually lowers the carbon footprint. Additional benefits of flexible bakery packaging include reduction in landfill waste and lesser energy requirements in manufacturing process.
Other product offerings in flexible bakery packaging segment includes biaxially-oriented polyethylene terephthalate (BoPET), having superior tensile strength, transparency, reflectivity and chemical stability. Ethylene vinyl alcohol and polyamide are employed as oxygen barriers in dairy packaging for properties such as recyclability, thermoform and flexibility.
Rigid bakery packaging market demand is fueled by advancement in polymer packaging materials and expansion of retail distribution chain. Products including plastic boxes and thin wall packaging aids in enhancing brand appeal and modernity. Additionally, companies are introducing new packaging using rigid materials. For instance, Berry Plastics introduced new polypropylene grade molded in tapered box for packing gelato in 2015, which gives the product an increased shelf life and henceforth expands its consumer base. The metal bakery packaging market size includes boxes, tins and containers, most of them made from aluminum, due to its lightweight and superior thermal properties.
Based on packaging technique, the global bakery packaging market size is segmented into vacuum packaging, flushing with inert gases, active packaging, gas packaging and modified atmosphere packaging. Vacuum bakery packaging market size has gained popularity in recent years due to its sealing properties which protects food products from oxygen and moisture. Modified atmosphere packaging is one of the most preferred techniques for packaging as it increases food products shelf-life by controlling the color, odour & taste, slowing the aging process and preventing anaerobic organism’s growth on bakery products. Overall, these innovative packaging methods help in preserving texture and nutrient contents and prevents food products from being dry and stale.
North America is anticipated to lead the global bakery packaging market size over the forecast timespan. This is attributed to the rising bakery and confectionary products demand and incessantly developing food & beverage industry in the region. For instance, North America food & beverage industry is likely to grow at a CAGR of over 5% which will drive bakery packaging market size by 2024. Latin America and Europe are also likely to witness substantial rise in product demand owing to the consumer preferences for frozen food, desserts and other breakfast cereals products.
Asia Pacific shall witness rapid growth in the bakery packaging market size in the coming years owing to the changing consumption habits and rising demand for single serve packs for biscuits, confectionary, breakfast cereals and frozen food products. The markets in Middle East and Africa are anticipated to show sluggish growth due to the developing food & beverage industry in this region.
The prominent market share contributors operational in bakery packaging market are Mondi Group, Amcor, Reynolds Group (Pactiv), Crown Holdings Inc., Rock-Tenn Company, Smurfit Kappa and Bemis. Other companies include Benson Box, Brow Packaging, Unger, Genpak, NAPCO, Wipak, WestRock and Sydney Packaging. Companies are constantly adding products to its product portfolio for retention of existing customers and new customers acquisition.
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