Published Date : July 25, 2020
The Global Bakery Packaging Market is anticipated to garner lucrative market growth owing to escalating shelf-life of food products because of widespread use of modified atmosphere packaging. The mixture used in such type of packaging controls the odor, color and taste, slackens the process of aging, and decreases the chances of deterioration and decay. It also averts the growth of anaerobic organisms and mold of food products.
The development of multipacks and small-sized packs is one of the latest and most-effective trends in the market. Advantages like cost efficiency, storage convenience, and presence of controlled portion sizes are a few elements which will propel the global bakery packaging market during the forecast period.
Moreover, most of the retailers pick small-sized multi packs since they occupy less space in the shelves and the benefit of rendering users novel varieties of products in small quantities. In 2015, the flexible material segment led the global market by attributing for nearly 50% of the entire market share.
The increasing need for flexible plastic tubs, stand-up pouches and retort for packing bakery goods is one the prime factor responsible for the growth of this market. Furthermore, advantages like potential to reduce landfill waste and energy consumption and reduced cost will result in escalated adoption rate in the near future.
Region-wise, North America will lead the global market while registering at a significant compound annual growth rate by 2023. The rising need for single and multipacks is one of the primary component responsible for the growth in this region.
Major market players of the global bakery packing market are are Brow Packaging, Rock-Tenn Company, Reynolds Group (Pactiv), Unger, NAPCO, Crown Holdings Inc, Benson Box, Amcor, Mondi Group, Genpak, Smurfit Kappa and Bemis and WestRock.
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