NEWARK, Del, Jan. 09, 2024 (GLOBE NEWSWIRE) -- The global market for chocolate bar packaging solutions is estimated to be around US$ 815.7 million in 2024. In 2023, the market was valued at US$ 788.1 million. It is projected to exhibit a CAGR of 4.70% and reach US$ 1,291.2 million by 2034.
The global chocolate industry is going through a transitional phase in the last few years. With the rise of artisanal chocolates, the demand for chocolates in the general population all over the world is touching the skies. This has opened new doors for chocolate bar packaging solutions, as it offers effective protection to the product during transit and enhances the visual appeal on store shelves.
The demand for chocolate bar packaging solutions is also surging due to the branding opportunities it offers to the key market players. Brands can leverage chocolate bar packaging as a powerful tool for brand differentiation and communication. The significance of this packaging is skyrocketing as it serves as a canvas for conveying brand stories, values, and the overall identity of the chocolate product.
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In countries like India, China, and Australia, where the population is experiencing a gradual rise in disposable incomes, individuals are opting for premium and artisanal chocolate products. To respond to these demands, brands are curating packaging that gives a sophisticated feel, thus enhancing their chocolate-eating experience. Besides this, brands are also using innovative methods featuring augmented reality to engage tech-savvy consumers across the world.
“There is a rising focus on sustainability globally. The chocolate bar packaging market, too, is coming up with new materials that are 100% recyclable, which is expected to attract millions of eco-conscious consumers to the market. Several brands like Mars, Nestle, etc., have taken major steps ahead in the process,” says a Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Market Study
- Stick packs are estimated to dominate the global chocolate bar packaging market with a 23.40% share in 2024.
- Plastic material in the chocolate bar packaging market is expected to account for 51.30% of the market share in 2024.
- The chocolate bar packaging market in India is predicted to grow at a CAGR of 7.20% through 2034.
- The chocolate bar packaging market in China is predicted to rise at a 6.40% CAGR through 2034.
- The chocolate bar packaging market in the United Kingdom has the potential to increase at 5.20% CAGR through 2034.
- The South Korean chocolate bar packaging market is predicted to rise by 5.30% CAGR through 2034.
- The chocolate bar packaging market in Thailand is predicted to grow at a CAGR of 6.10% through 2034.
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Competitive Landscape
A mix of established global players, emerging regional contenders and niche players with specialized focuses characterizes the chocolate bar packaging market. Very few companies have a worldwide presence, establishing partnerships with local and international chocolate-producing brands to cater to a broad consumer base.
Small brands in the market have significant opportunities, catering to the demands of regional confectionery stores and manufacturing units. The market offers many opportunities for innovation in packaging designs, materials, and functionalities to meet evolving consumer expectations.
Industry Key Players:
1. Amcor Plc
2. Huhtamaki Oyj
3. Mondi Plc
4. The Smurfit Kappa Group plc
5. Stora Enso Oyj
6. Glenroy Inc
7. Sonoco Products Company
8. Sealed Air Corporation
9. JBM Packaging
10. MAX Bright Packaging
11. Packman Packaging
12. Marber S.r.l.
13. Packle Packaging Industries
14. Zee Packaging
15. CP Food Boxes
16. Charpak Ltd
17. Packle Packaging Industries
18. The Sherwood Group.
19. Swiftpak Limited
20. Premier Packaging Solutions
Recent Developments
- Hershey's "SHE" chocolate bars returned to shelves on March 1, 2023, for the third year of Women's History Month, featuring a new wrapper with over 200 uplifting adjectives describing women and girls.
- Indian nutrition firm Brawny Bear has partnered with Pakka Limited for eco-friendly chocolate bar packaging, introducing flexible paper packaging to enhance sustainability.
- Mars successfully transitioned its chocolate bars from plastic to recyclable paper packaging in a recent UK trial, implemented in 500 Tesco stores starting May 29, 2023.
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Key Market Segmentation
By Material:
- Paper
- Plastic
- LDPE
- PVC
- PET
- PE
- Foil
- Aluminum
By Type:
- Wrappers
- Boxes
- Secondary packaging (Pouches, Bags)
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Explore Trending Reports of Packaging
- The chocolate wrapping films market is anticipated to flourish at an average CAGR of 4.5% between 2023 and 2033. The market is expected to hold a market share of US$ 1,148.6 million by 2033.
- The chocolate wrapping machine market is likely to grow at a CAGR of 6% through 2032. The market has a current valuation of US$ 48 Billion in 2022 and is likely to cross a valuation of US$ 85.96 Billion by 2032.
- According to the new zipper pouch market analysis by Future Market Insights (FMI), the market is expected to surpass US$ 3.90 billion by 2033, exhibiting a CAGR of 5.2% between 2023 and 2033.
- The global metalized barrier films market size is anticipated to reach US$ 3,463.1 Million by the end of 2032. The global market is expected to witness a considerable CAGR of 5.3% between 2022 and 2032.
- The aluminum foil containers market is expected to reach a valuation of US$ 3.8 billion in 2023 and record a CAGR of 5.5%. The valuation is projected to reach US$ 6.5 billion over the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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