The snack food packaging market witnessed significant growth in 2021 with worldwide revenues up 4.3% year over year, due to various factors about which transparency market research offers detailed insights and forecasts in the snack food packaging market report.
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The growing consumption of snack food packaging products such as ready-to-eat food, bakery & confectionary, and chips, among others, has propelled the demand for innovative and efficient packaging solutions. Packaging of snack food items has an important role to play, as they preserve the quality, texture, and taste of the product. The increasing demand for snack food packaging among all age groups has driven manufacturers to provide innovative and appealing packaging solutions, as it helps to enhance product visibility.
Furthermore, the growing preference for snack food products among urban population has led to increase in demand for packaging solutions. Corporations concentrated in cities have bolstered the demand for better packaging systems, owing to their bulk ordering of snack food packaging products.
Expansion of Sugar-free Confectionary Sector to Boost Demand
Considering the savoring needs of diabetic patients around the world, bakers and confectionery manufacturers are producing sugar-free candies, cupcakes, and other delicacies. As a result, the array of packaging products for wrapping up such novel snack food packaging items has expanded. Even manufacturers and retailers involved in producing and selling, respectively, have given a major boost to the developments in the snack food packaging market, leading to the emergence of cost-effective, sustainable, light-weight and biodegradable packaging materials.
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Bakery & confectionery and ready-to-eat food application segments account for majority of value share followed by chips/crisp/fries/plantain chips and baby food. Plastic is a preferred packaging solutions, as it has high barrier properties such as moisture and oxygen resistance.
Customization & Branding Made Easy Through Different Packaging Formats
Snack food packaging formats are available in a variety of size options and colors such as pouches, bags, boxes, composite cans, etc. The high-graphic printing is very easy to carry out on packaging formats made from paper and plastic. Various brand aesthetics, warning label instructions, and promotional offers can be easily printed on these formats.
For instance, the safety of the product is always a top priority of major manufactures. As shoppers are affected by allergens and intolerances, it is necessary for them to access this information quickly. Thus, the brand provides information regarding allergens that are added as ingredients in CAPITAL or BOLD letters, along with precautionary allergen labeling (PAL) wherever there is a risk from the presence of unintended allergens due to cross contact.
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Snack Food Packaging Market: Competition Landscape
The global snack food packaging market is anticipated to witness strong competition among key players. This market includes a few well-established market participants. Along with this, several other local and small-scale manufacturers are also entering into snack food packaging market attributing to significant revenue creation with the rising demand for snack food packaging.
Some of the key players operating in the global snack food packaging market are Amcor Plc, Huhtamaki Oyj., Berry Global Group Inc., Constantia Flexibles Group GmbH, Sonoco Products Co., Winpak Ltd., ProAMPAC LLC, Pactiv LLC, Swiss Pac Pvt. Ltd., Owens-Illinois Inc., Pouch Direct Pty Ltd., Purity Flexpack Ltd., WestRock Company, Logos Packaging Holding Ltd, Eagle Flexible Packaging, Inc. and Glenroy Inc.
The tier structure is formulated on the basis of segmental revenue and market share of the company. As per the tier structure, Amcor Plc, Berry Global Group Inc., and WestRock Company are tier 1 players in the snack food packaging market. These leading companies are adopting key strategies such as business expansion, acquisition and products launch to strengthen their position in the snack food packaging market.
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