In 2022, the pie packaging market is anticipated to be worth US$46.91 billion. The market is projected to expand at a CAGR of 6% to reach a market size of US$ 84.27 billion by 2032.
Attributes
Details
Pie Packaging Market CAGR
6%
Pie Packaging Market (2022)
US$ 46.91 Billion
Pie Packaging Market (2032)
US$ 84.27 Billion
A lot of people in the world today are changing their lifestyles and attempting to get healthier. As a result, people are motivated to eat organic food in order to stay healthy. The demand from these health-conscious consumers for organic pies is rising. Market participants are taking advantage of this opportunity in the pie packaging market to diversify their product portfolios and target this customer group.
Pie consumption has increased significantly as a result of the development of different kinds of home delivery services for pies. Additionally, this has had a favourable impact on the pie packaging market. Due to the convenience and visual appeal of pies in to-go containers, the market demand for pie packaging has significantly expanded in recent years.
Producing high-quality products with enhanced efficiency is not just a cliché in today's fiercely competitive corporate climate; it is a requirement. Manufacturers are adopting fresh, cutting-edge manufacturing techniques as well as creative packaging designs and compositions to attract customers. As the pie packaging market skyrocketed, market players are coming up with more innovative designs to attain a competitive edge.
Additionally, since society as a whole is moving toward sustainability, several firms are developing packaging boxes or bags made of paper. Due to their environmental friendliness, paper bags and boxes are becoming more and more popular today.
However, some market participants are attempting to use recyclable plastic as paper bags cannot be used for specific commodities. For anything that can spill or stain, such as frozen meals, plastic bags are excellent. Since businesses can utilize these bags for products and save a ton of money, some of them have even teamed with local consignment stores. It's beneficial to the environment as well.
To provide customers piece of mind while buying bread or pizza, several market participants have even introduced tamperproof packaging. The bakeries make adjustments for the new packaging, which involves the use of 68 equipment. These packages include the "new tamper proof seal" graphic so that customers can distinguish the safe packages right away.
The field of pie packaging is also seeing a significant shift toward personalized gift boxes. Some industry players are taking advantage of this development and producing premium customized pie packing boxes in accordance with the requirements of the customer.
Hence, the key market players are adopting the aforementioned business strategies to dominate the pie packaging market.
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Pie Packaging Market Overview
Pies are essentially baked from pastry dough consisting of various sweeteners. Depending on the region, they vary in terms of ingredients. For instance, people in UK prefer to have pies using steak, kidney, minced beef, and chicken as ingredients, while in Australia, people prefer it as take-away.
Pies have been a favorite confectionary food item for many decades, and with the changing consumer habits across the globe, more handy items such as small pies or cupcakes are becoming more common in the list of favorites of many. This very trend is expected to increase the global pie packaging market. It is important to note that the presentation of a pie may vary across regions.
The large sized traditional pies may not be commonplace in Asia Pacific. Similarly, pie, as a savory food item, has undergone large segmentations with many regions coming up with their own versions. The large sized pies are consumed only on certain occasions in the west. The consumption of pies is directly related to the global pie packaging market.
Global pie packaging market: Dynamics
The increase in demand for pie has led to the introduction of many home delivery services for pie. This factor is expected to drive the global pie packaging market. Other factors that are expected to act as drivers for the global pie packaging market are utilization of some of the latest trends in the global packaging industry.
Many suppliers offer the option for custom printing and labeling, which can also be used to target certain groups of consumers, most notably kids. The global food packaging market has shown meteoric growth over the past few decades, leading to an increased demand for absolute customization in terms of package design and formulation. Also, many suppliers are starting to offer to-go containers as pie packaging options.
Owing to the recent pattern of food consumption and fast paced lifestyle, to-go containers have a strong appeal as the most suitable form of packaging for any food item. Another factor that contributes as a driver to the global pie packaging market is the introduction of new and innovative package designs for pies.
This is expected to result in increased competition among manufacturers to come up with more innovative designs.
Despite the decent conditions for the growth of the global pie packaging market, there are certain factors that might prove to be a potential hindrance to the growth of the market, such as, environmental concerns regarding the type of packaging material used. Also, an increased number of local players results in competitive pricing which might reduce net market value.
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Global pie packaging market: Geographical and Competitive dynamics
The global pie packaging market is segmented in the following seven regions – North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East and Africa (MEA)
North America, Western and Eastern Europe are the highest contributors to the global pie packaging, owing to a large consumer base. Countries in the Asia Pacific region have seen a recent increase in the number of people moving to urban centers. The increased disposable income and the evolving lifestyle has led people to shift towards on-the-go packaging solutions.
Small sized of pies, also known as cupcakes are becoming popular across the world, owing to their small size and convenience in carrying. Middle East and Africa and Latin America are also expected to see a growth in the sales for pie, although, as mentioned above, pie may be presented in a very different way depending on the region.
Global pie packaging market: Key Players
Some of the key players in the global pie packaging market are - Shijiazhuang CHUANGMEI Paper Products Co., Ltd., Jessica Liu Dongguan A1 Packing&Stationery Co., Ltd, PieBox, LTD, Albany Packaging and Cassel Bear, Ltd
The report offers an accurate evaluation of the market through detailed qualitative insights and verifiable projections about market size. The projections presented in the report have been derived using proven research methodologies and assumptions.
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The report covers exhaustive analysis on
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes
North America (U.S., Canada)
Latin America (Mexico, Brazil and Rest of Latin America)
Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
Eastern Europe (Poland, Russia and Rest of Eastern Europe)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, and Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies
Global pie packaging market: Segmentation
The global pie packaging market is segmented as follows: -
