In the revised edition of the global confectionery flexible packaging market, FMI has estimated that the industry is going to reach USD 9.8 billion in the year 2024. The market growth is driven by the rising innovations related to safety, convenience, and sustainability in packaging solutions.
The growth of the market is expected to surge at an average of 3.1% in the following decade to arrive at an estimated valuation of USD 13.2 billion by the financial year 2034. Gauging the growth potential, players are investing in breakthrough technologies to give another dimension to the confectionery flexible packaging market.
| Attributes | Key Insights |
|---|---|
| Confectionery Flexible Packaging Market Size (2024E) | USD 9.8 billion |
| Market Valuation (2034F) | USD 13.2 billion |
| Value-based CAGR (2024 to 2034) | 3.1% |
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| Leading Product Type | Films and Wraps |
|---|---|
| Value Share (2024) | 30.40% |
Confectionery items are frequently packaged in films and wraps. In 2024, the segment is predicted to account for a value share of 30.40%. Films and wraps are a growing area in the flexible packaging sector. It is finding higher demand to package confectioneries than its competitors, including pouches, sachets, stick packs, laminates, and tubes. The growing popularity of films and wraps due to their superior properties, including twist retention, transparency, and superior shrinkage is also supporting the segment’s growth.
| Leading Application | Biscuits |
|---|---|
| Value Share (2024) | 32.60% |
Biscuits hold a handsome share in the confectionery flexible packaging industry. The segment is anticipated to acquire a market share of 32.60% in 2024. New product launches in the biscuits section are supporting the demand for flexible packaging solutions. Additionally, biscuits are a massively purchased item for special occasions or regular eating, contributing to its massive share in the global market.
| Countries | Forecast CAGR (2024 to 2034) |
|---|---|
| The United States | 2.10% |
| The United Kingdom | 3.80% |
| China | 5.70% |
| India | 6.40% |
| Thailand | 5.10% |
The United States confectionery flexible packaging industry is being propelled at a CAGR of 2.1% over the forecast period. Growing demand for on-the-go packaging for confectionery, including chocolates, gums, mints, etc. is enhancing the regional market’s share.
Surging inclination for premium chocolate and confectionery among consumers for gifting purposes is raising the market’s value. Additionally, trending social media activity challenges, started either by brand or social media personality, are spurring demand for these confectionery flexible packaging solutions.
The holiday season is a peak time for the confectionery packaging industry, which skyrockets the net market valuation.
The United Kingdom’s confectionery flexible packaging industry is pushing the market growth at a CAGR of 3.80% over the following decade. Market growth in the country can be ascribed to increasing production of premium confectionery products in the United Kingdom.
The industry is progressing toward sustainability as top branded manufacturers in the United Kingdom are collaborating to make flexible plastic recycling easier for consumers and economically viable for recyclers. These leading brands include Unilever, PepsiCo, Nestle, Mars UK, and Mondelez International, Inc.
Players in the United Kingdom, like Mars, are also performing trials for their paper packaging. In another recent development, Mondelez International, Inc. introduced a new pilot in the United Kingdom that consists of QR codes on confectionery packs, to empower customers with information regarding the firm’s sustainability initiatives, like recycling and mindful snacking to assist consumers to ‘snack right’.
India appears to be an opportunity land for players in the confectionery flexible packaging market. According to the latest market statistics by FMI, the Indian market is set to adopt the pace of 6.40% over the forecast period.
To make the consumer experience sweeter, companies in the market are offering personalized, limited-edition, and vibrant confectionery packaging designs. For instance, Huhtamaki India, having over eight decades of experience in consumer behavior around sweet indulgences, offers chocolate and candy wrapping solutions that enhance the brands through high-speed, shelf-impact, and convenient and sustainable attributes.
Growing demand for confectionery flexible packaging solutions with enhanced packaging elements during festive or other special occasions is fueling the market growth.
The confectionery flexible packaging market in China is expected to expand at a CAGR of 5.70% through the forecast period. Several companies in the market are using their extensive experience to offer the latest in film innovation and print technology to support confectionery-selling businesses.
Players in China are offering high-quality, customized confectionary packaging solutions to clients across the country. Customization options include structure, size, and barrier requirements.
The industry in Thailand is expected to surge at a CAGR of 5.10% in the assessment period. Increasing demand for confectionery packaging for products like chocolates and sugar confectionery is raising the market growth.
Companies in Thailand are tailoring their flexible confectionery packaging solutions to the requirements of different confectionery and snack brands. These companies operate from the notion that the right packaging for confectionery protects, presents, and preserves the products inside.
Key players are rethinking their strategies to develop sustainable and resource-saving packaging when it comes to confectionery. They are collaborating with their peers to innovate innovative circular food packaging and reduce their carbon footprint.
Another step in the direction of sustainability includes developing high-performing PE films that are compatible with existing PE recycling streams, thus making more packaging appropriate for recycling. On record, companies in Europe are fast adopting paper packaging for chocolates and other confectionery items.
Industry participants are also integrating new features, like easy release, in confectionery flexible packaging solutions to offer a fine unwrapping experience for customers. Key players are further expanding their local presence in various countries to increase their brand recognition and product sales. Market contenders are also investing in research and development activities with renowned institutes to bring advancements into this market.
Players are using these strategies in combination with acquisitions, mergers, and collaborations to have an upper hand in the fiercely competitive landscape.
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Current projections of the confectionery flexible packaging market indicate a valuation of USD 9.8 billion in 2024.
Looking ahead to 2034, the current forecast projects a CAGR of 3.1% for the confectionery flexible packaging industry.
FMI predicts the market to reach USD 13.2 billion by the year 2034.
Films and wraps are predicted to hold a significant market share during the forecast period.
India is predicted to offer opportunities for investors and stakeholders.
WestRock Company, DS Smith plc, and Sonoco Products Company are powerful players in the confectionery flexible packaging industry.
| Market Size, 2024 | USD 46.6 billion |
|---|---|
| Market Size, 2034 | USD 58.4 billion |
| Value CAGR (2024 to 2034) | 2.3% |
| Market Size (2023) | USD 11.37 billion |
|---|---|
| Market Size (2033) | USD 17.50 billion |
| Market CAGR (2023 to 2033) | 4.4% |
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