Stick packaging: Key market research findings
- Increase in demand for plastic stick packaging
- Growing applications in food and beverage industry
Technavio has added a new market research report on the global stick packaging market which is expected to grow at a CAGR of around 6% between 2015 and 2019. The major customers of stick packaging include industries like food and beverage, pharmaceuticals and healthcare, and consumer packaged goods. The market is expected to witness healthy growth during the forecast period owing to increased demand for stick packaging among vendors. The stick packaging market in APAC is estimated to witness the highest growth rate of 9% during the forecast period. Increase in disposable income and growing demand for food and beverages in the region is expected to drive the market’s growth in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The market is witnessing increased demand for plastic stick packaging owing to the surging use of plastic sticks for powdered beverages. Plastic is the preferred material for stick packaging as it is versatile and can be converted into many shapes and sizes. Moreover, it is cheap, lighhtweight and incurs negligible managemnt costs. Also, the packaging vendors are focusing towards innovative packaging solutions for single-serve packages, where where consumers demand lightweight, convenient, and easy-to-use packaged products,” says Sriram Mohan, Lead Analyst, Transport & Logistics, Technavio Research.
The food and beverage industry is the major end-user of stick packaging, accounting for around 47% of the overall market revenue. Stick packs are preferred for food products as they facilitate flexibility, ease of consumption, storage, and transportation. Stick packs offer single-serving and smaller size packets, which are apt for fast-moving food and drinks.
The key vendors in the global stick packaging market include Amcor, Constantia Flexible, Huhtamaki, Mondi, and Sonoco. The market is highly fragmented because of the presence of numerous small and large vendors. Vendors compete on the basis of price, quality, innovation, reputation, distribution, and promotion
A more detailed analysis is available in the Technavio report, Global Stick Packaging Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
- Global Advanced Packaging Market 2015-2019
- Global Bulk Container Packaging Market 2015-2019
- Global Antivirus Software Package Market 2015-2019
- Global Gluten-Free Packaged Food Market 2015-2019
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