M a r k e t N e w s

Global Bakery Packaging Market to Grow by 2020

Posted on : Wednesday, 21st September 2016

 The global bakery packaging market is expected to grow at a CAGR of around 4% during the forecast period, according to the latest market study released by Technavio.

 
The research report titled “Global Bakery Packaging Market 2016-2020” categorizes the global bakery packaging market into three major segments based on the type of materials used for packaging: Flexible packaging; Rigid plastic packaging and Metal packaging.
 
The global bakery packaging market by flexible plastic is growing owing to favorable properties such as it being lightweight, which reduces transportation costs and consequently the carbon footprint. It has certain additional advantages associated with it such as, reduction in landfill waste, and reduction of energy required in the manufacturing process in comparison to rigid materials. Flexible plastic packaging includes films and sheets, pouches, and bags.
 
This segment is slated for healthy growth during the forecast period. “Another major reason for the growth of this market is the increasing demand for single-serving and smaller size packets because they help to manage portion control, thereby satisfying cravings without adversely affecting the health of consumers. This has significantly increased the demand for flexible packaging solutions,” says Sharan Raj, a lead analyst at Technavio for packaging research.
 
The global bakery packaging market by rigid plastic is facing intense competition from rival packaging materials as they are cheaper and thus more economical to manufacture. However, despite this, it is a growing market and is impacted by certain technology trends.
 
The demand for bakery packaging by rigid plastic is further fueled by the expansion of centralized retail distribution and advancements in polymer materials.
 
The bakery packaging market by metal includes products such as containers, tins, and boxes. The demand for metal packaging is largely declining because of the increasing demand for cheaper substitutes. Approximately 50%-60% of bakery packaging products globally are made of aluminum. In the US, aluminum is used for packaging, but in some parts of Africa, Europe, and APAC steel is still used. The largest markets for metal packaging are the US, Japan, China, and Brazil.
 
The US is the major consumer of metal packaging followed by Europe and South America, especially Brazil. Southeast Asia and the Middle East regions are growing at a rapid rate and are witnessing a huge demand for these packs for packaging of cookies, pastries, and bread.

Source : www.worldbakers.com
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