LAS VEGAS, Dec. 05, 2017 (GLOBE NEWSWIRE) -- A research study titled, “Bakery Packaging Market By Material and Packaging Technique - Global Industry Analysis and Forecast to 2023” published by Crystal Market Research, states that Bakery Packaging Market is projected to be around USD 348.27 billion by 2023.
The Bakery Packaging Market was worth USD 247.45 billion in the year 2014 and is expected to reach approximately USD 348.27 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.87% during the forecast period. Rising interest of consumers towards frozen and packaged food products which is credited to quick urbanization and rising per capita customer wage fundamentally in the developing economies is probably going to make a conspicuous commitment towards bakery packaging market amid the gauged time frame. In addition, retailer's inclination for single serving and multipacks as they involve less shelf space empowers them to offer purchasers with new and numerous assortments of bakery products in alluring amounts which will help accomplish huge pastry kitchen bundling market estimate in the upcoming years. Affordable prices, storage convenience and availability of variable sizes are a few elements which might emphatically impact bakery packaging market estimate in the coming years.
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Market Scenario:
The Bakery packaging market by material is segmented into flexible packaging, metal packaging and rigid packaging. In 2016, flexible section accounted for the biggest share of the aggregate bakery packaging bundling market measure and is anticipated to display comparative growth throughout the following years. By packaging technique the market is segmented into Vacuum packaging, Modified atmosphere packaging, Gas packaging, Flushing with inert gases and Active packaging. Modified atmosphere packaging is the most preferred systems for packaging as it enhances the shelf-life of food products by moderating the odor & taste, color, moderating the aging procedure and developing anaerobic organisms on bakery products.
Scope of the Report:
Geographically, the market is segmented into North America, Europe, Asia Pacific and the rest of the world. North America is anticipated to dominate the global bakery packaging market measure over the forecast period. This is attributable to the developing need for confectionary and bakery products and perpetually developing food & beverage industry in the area.
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The leading players in the market 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. Major companies are constantly adding up to its product portfolio for retention of current consumers and new customer’s acquisition.
The Bakery Packaging Market is segmented as follows -
By Material:
- Metal packaging
- Flexible packaging
- Rigid packaging
By Packaging Technique:
- Gas packaging
- Vacuum packaging
- Active packaging
- Modified atmosphere packaging
- Flushing with inert gases
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Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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