Growing need of flexible stick packaging solutions in food industry will continue to fuel market growth.
DUBAI, UAE / ACCESSWIRE / October 22, 2020 / The stick packaging market is expected to grow at a moderate CAGR through the forecast period (2020-2030). Due to surging demand in pharmaceuticals and cosmetic industry, stick packaging is gaining significant traction globally.
"Due to higher preference for moisture-resistant and sustainable packaging solutions across the world, demand for stick packaging has surged lately. Partnerships, expansions, mergers and product launches are amongst the major market strategies," says the FMI Analyst.
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Stick Packaging Market- Key Highlights
- North America is expected to register highest CAGR while Asia will experience fastest market growth.
- According to analysts at FMI, BOPP plastic stick packaging will garner maximum traction owing to moisture resistant and environmental friendly qualities.
- A healthy competition is noticed in the market due to the presence of flourishing small, medium and large enterprises.
- Online sales channel accounts for higher revenue share as compared to offline sales.
Stick Packaging Market - Driving Factors
- Pharmaceuticals, food, beverage and immunity boosting supplements require a great deal of convenient packaging and moisture-resistant solutions.
- Establishment of advanced packaging machines in Asia and North America has fuelled the growth in these regions, thereby, creating opportunities.
- Paper based packaging solution finds innumerable use in major end-use industries like cosmetics, owing to reduced costs and lightweight feature.
- Numerous opportunities have been created by the manufacturers as they are involved into productions ranging from BOPP to plastic propylene.
Stick Packaging Market- Key Restraints
- Requirement of heavy investment is acting as a key restraint.
- Increased labour cost and lack of skilled labour hampers market growth to a great extent.
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Expected Impact on Market by Coronavirus Outbreak
Stick Packaging market might experience considerable pressure due to reduced production and high labour cost. Online sale has proved beneficial as consumers are relying on it to avail instant food and medicines supply. Government imposed restrictions on manufacturing has led to plant shutdowns and production crunches. Presence of key players in Asia and North America will help the market create opportunities in these regions.
Competition Landscape
Key manufacturers are incorporating innovative techniques like product expansion, mergers, capacity expansion and acquisitions. Major players in the market include Sharp, Aranow, Naturelle Ltd., Nellson Anahem, GFR Pharma Ltd., Catalent Inc., Hearthside Food Solutions LLC, Assemblies Unlimited Inc., Lithotype and Fresco Systems USA Inc. For instance, key companies are focussing on adopting enhanced technologies to facilitate production.
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More on the report
FMI's report provides proper segmentation and analysis of market trends and macro-economic factors on the basis of material (plastic, aluminium, polyamide, EVOH etc.), product form (liquid, granules, powder and solid), end-use (personal care, pharmaceuticals, food, beverages, healthcare, cosmetics etc.) and region-wise segmentation (North America, Asia-Pacific, Eastern and Western Europe).
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
4. Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
5. Stick Packaging Market Demand Analysis 2015-2019 and Forecast, 2020-2030
5.1. Historical Market Volume (Tonnes) Analysis, 2015-2019
5.2. Current and Future Market Volume (Tonnes) Projections, 2020-2030
5.3. Y-o-Y Growth Trend Analysis
6. Stick Packaging Market - Pricing Analysis
6.1. Regional Pricing Analysis
6.2. Pricing Break-up
6.3. Global Average Pricing Analysis Benchmark
7. Stick Packaging Market Demand (Value in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
7.1. Historical Market Value (US$ Mn) Analysis, 2015-2019
7.2. Current and Future Market Value (US$ Mn) Projections, 2020-2030
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights