MILAN, Italy – The confectionery packaging market is estimated at US$ 10.9 billion in 2022 and is projected to reach US$ 13.2 billion by 2027, at a CAGR of 3.3% from 2015 to 2021. The confectionery packaging market is expected to grow at a CAGR of 3.8% in the global market during the forecasted period.
The sales of confectionery packaging are anticipated to register a Y-o-Y growth of 3.8% in 2022 over 2021 reaching US$ ~10.9 Bn. The chocolate confectionery segment followed by sugar confectionery segment, collectively are estimated to hold around 89% of the market value share in 2022.
Confectionary packaging
Besides this, APEJ and Western Europe regions are projected to be the regions generating high demand for confectionery packaging. Both the region collectively are anticipated to hold around 52% of the market share by the end of 2027.
The confectionery packaging market saw soaring growth in 2021 with worldwide revenues up 3.7% year over year. A new forecast by FMI estimates that confectionery packaging market revenues will increase between 2022 and 2027, reaching nearly US$ ~13.2 Bn in 2027.
Global confectionery packaging market constitutes around 2-3% of the total food packaging market which is estimated to be worth US$ ~310 billion in 2021.
The global confectionery packaging market is projected to register a CAGR of 3.8% during the forecasted period due to the rising consumption of confectionery products among the customers along with the increasing variety of confectionery products.
The confectionery manufacturers are focusing on adopting the packaging solution that enhance the shelf-life of the product along with preserving the product quality which augment the sales of different packaging format used for confectionery products.
The rising consumption of confectionery products among different age groups drives the confectionery packaging market. Also, the development of a variety of confectioneries such as sugar-free confectionery products for diabetic persons bolsters the demand for confectionery packaging.
How does the Surging need for Smaller Size Confectionery Product along with Re-Closable Pouches Fuels the Demand for Confectionery Packaging?
Consumer preference towards customized and diversified product sizes accentuates the market share of confectionery packaging. The smaller pack size ensures consumers’ needs as they provide ‘on-the-go consumption. The intake volume is also controlled by smaller pack sizes.
These properties of small pack size solutions are supporting the growth for confectionery packaging market as consumers prefer easy to use and convenient packaging solution. In addition to the convenience, the use of small pack size of confectionery products increases user-friendliness as the product can be consumed on the spot more hygienically.
Furthermore, reducing the pack size has proven valuable to the consumer as it enables them to regulate and measure their calorie intake and is also supported by several government initiatives regarding sugar intake and obesity.
Thus, the rising trend of on the go consumption of confectionery products has urged the manufacturers to reduce the pack sizes of confectionery products and innovate packaging solutions. As consumer prefers frequent consumption of products, the demand for re-closable pouches is anticipated to increase.
Re-closable pouches also help in control over calorie intake especially sugar-rich confectionery products. Moreover, re-closable pouches enhance the product appeal with a more premium look when stacked on retail shelves. Re-closable pouches with a zip-lock feature offer a portion control feature for consumers and increase self-aesthetics for retailers. Overall, the rising need for the smaller package in confectionery products along with re-closable pouches bolsters the demand for confectionery packaging.
What was the Impact of the COVID-19 Pandemic on the Global Market for Bakery Packaging?
The global confectionery packaging market referred to as bakery packaging experienced a slight negative market growth on the back of the factors such as disruption in the supply chain, improper supply & availability of raw material, government restriction on trade, the slowdown in the production process, and others.
Later, with the reduction in restriction by the government, the industries started to operate at their full efficiencies which slowly had a positive impact on the confectionery packaging market.
Moreover, the buying habits of the consumer changed during the pandemic. Consumers started to prefer different varieties and brands of confectionery products along with purchasing different sized packages which creates the market growth opportunity for confectionery packaging.
Furthermore, the key players operating in confectionery packaging started to focus on offering sustainable and eco-friendly packaging solutions which attract confectionery manufacturers. Overall, the confectionery packaging market is expected to rise at a faster pace during the forecasted period.
Country-wise Insights
Which Factor drives the Confectionery Packaging Market in Europe?
The major portion of Western European confectionery packaging is anticipated to behold by Germany. The German market is projected to account for 24% of the market by the end of the next five years.
According to the Association of Chocolate, Biscuit and Confectionery Industries of Europe (CAOBISCO), the consumption of chocolate confectionery and sugar confectionery is high in Germany. In 2018, the consumption of chocolate and sugar confectionery was around 9.2 kilos per head and 5.4 kilos per head respectively which indicates the positive growth for confectionery packaging market in Germany.
How will the United States Push the Growth for Confectionery Packaging Market?
The major portion of the North American confectionery packaging market is captured by the United States. The United States accounts for around 93% of the total North American market for confectionery packaging by the end of 2027.
The consumption of confectionery products is increasing in the United States which is the major driver augmenting the sales of confectionery packaging in the United States. According to National Confectioners Association (NCA), the confectionery sales in the United States was US$ ~36.7 Billion in 2020. This indicates that the rising sales of confectionery products propel the demand for confectionery packaging in the United States.
