Bakery packaging: Key market research findings
- The Americas dominate the market geographically
- Flexibles account for a majority of the market’s revenue
- Key vendors – Amcor, Bemis, Mondi, Reynolds Group (Pactiv), and Smurfit Kappa
Technavio’s market research analysts predict the global bakery packaging market to grow at a CAGR of around 4% between 2016 and 2020. The growth of this market is fueled by the recent increase in shelf life, which can be achieved with the help of modified atmosphere packaging. Vendors are increasingly adopting this packaging for bakery products as it allows them to enhance product shelf life without the need for additional cost factors such as temperature-controlled transportation and warehousing. During 2015, the Americas dominated the global bakery packaging market by accounting for almost 39% of the overall market share. The concentration of prominent vendors from the bakery packaging market in the US is expected to drive the growth of this market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the bakery packaging segments based on the material.
“The emergence of biodegradable or sustainable plastics is a trend that will greatly influence the bakery packaging market. Key manufacturers in the packaging industry are looking to stand out from those of their competitors by supplying best possible biodegradable packaging products. The rising demand for biodegradable packaging in the market is fueled by its increasing adoption by several companies to promote the safety as well as protect the environment along with their products,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
In 2015, the flexibles segment accounted for a market share of almost 50% to become the dominant shareholder in the global bakery packaging market. The growth of this market segment is driven primarily by favorable properties such as its lightweight nature, which reduces companies’ transportation costs and carbon footprint. Flexible plastic packaging includes films and sheets, pouches, and bags. The increasing demand for single-serving and smaller size packets will drive further growth in the global flexible bakery packaging market by 2020.
The key vendors in the global bakery packaging market include Amcor, Bemis, Mondi, Reynolds Group (Pactiv), and Smurfit Kappa. Vendors in this market are adopting effective marketing and promotion strategies, and providing new improved products that fulfill consumer expectations to sustain their position in the highly competitive market. The market is categorized by intense vendor competition, evolving industry standards, and business models. The major international market vendors have huge financial resources, technical staff, R&D facilities, and manufacturing and marketing capabilities.
A more detailed analysis is available in the Technavio report, Global Bakery Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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