Industry Background:
The increasing shelf-life of food products owing to the extensive use of modified atmosphere packaging will be one of the primary factors leading to the growth of this market over the forecast period. The emergence of multipacks and small-sized packs is one of the recent trends in the market. Benefits such as its convenience of storage, affordable prices, and availability of portion controlled sizes are some of the factors that will lead to the increasing demand for these products over the following years. Bakery packaging market is competitive due to the presence of well-diversified international, regional and local players. However, some big international players dominate the market share owing to their brand image and market reach. With high market growth rate and increase in demand, this sector is attracting more players resulting in an enhanced competitive rivalry within the industry.This growth is primarily driven by Growing Consumption of Bakery Products in Emerging Economies
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Packaged Foods & Meats sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Amcor plc (Australia), Bemis Company, Inc. (United States), Smurfit Kappa Group plc (Ireland), Mondi Group (Austria), Hotpack Global (United Kingdom), Portco Packaging (United States), LINDAR Corporation (United States), Crown Holdings Inc. (Pennsylvania), Brown Packaging (United Kingdom), Genpak, LLC (United States) and Wipak Oy (Finland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
The Cali facility of Amcor Rigid Packaging in Colombia is currently run entirely on clean solar energy. Amcor receives all of its solar power from Celsia, a brand-new solar facility with more than 16,000 solar panels that can produce up to nine million watts of electricity. By incorporating solar energy, the Cali Colombia plant will be entirely run on renewable energy, a combination of hydropower and solar energyThe rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new mobility solutions, which is likely to encourage the growth of the global market throughout the forecast period
Regulatory Insights:
"The FDA aims to follow these policies by requiring all food packaging clearances to include and Environmental Assessment (EA) followed by a Finding of No Significant Impact (FONSI). Food packaging must receive full clearance by the FDA in terms of environmental impact. The FDA mainly looks at the way packaging materials are used and disposed of in terms of their environmental impact. In particular, they look closely at the recyclability of the packaging being used. In order to gain approval for materials in packaging that are not easily recycled, a company must present reasonable evidence for why their product requires something specific. Should the company fail to provide reasonable evidence, the FDA will require them to redesign their packaging using more eco-friendly materials due to NEPA policies."
Influencing Trend:
Increasing Consumption of Bread and Biscuits among the Bakery Products and The emergence of Multipacksin Bakery Products
Market Growth Drivers:
Growing Consumption of Bakery Products in Emerging Economies and Increasing Demand for Ready to Eat Bakery Products
Challenges:
Lack of Sustainability in Bakery Packaging and Increasing Competition Due to the Emergence of Many Local Players in the Bakery Packaging market
Restraints:
Environmental Problems Associated with Bakery Packaging and Stringent Food Packaging Guidelines Might Hinder the Market Growth
Opportunities:
Improving Sustainability of Bakery Packaging and Introducing New and Innovative Designs with appropriate labeling
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Bakery Packaging Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Bakery Packaging Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Bakery Packaging players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Bakery Packaging Study Sheds Light on
The Bakery Packaging Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Bakery Packaging industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Bakery Packaging industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.