The global bakery flexible packaging market is currently valued at US$ 7.8 Billion in 2023 and is anticipated to expand at a CAGR of 4.4 %. Owing to the advances in packaging, the market is likely surpass a valuation of US$ 12 Billion by 2033.
Other factors supporting the bakery flexible packaging market growth are -
Packaging plays important role in attracting consumers to the product. Bakery flexible packaging is used for storing products safely and conveniently for transportation. Flexible packaging offers benefits like its lightweight, ensuring the safe delivery of the product, and increasing product visibility through films, which led to the growth of the bakery’s flexible packaging market. Also, the flexible films can be molded as per the size and shape of the bakery item.
Increasing inclination towards hygiene and clean room packaging and maintaining the quality and shelf life of bakery items are the main factor boosting the bakery flexible packaging market.
The increasing trend of ready-to-eat food will boost the sales of bakery products. This increasing sales of bakery products globally drive the growth of the bakery flexible packaging market. Furthermore, the rising urbanization and increased disposable income of peoples in developed as well as developing nations has also contributed to the market’s expansion during the forecast period.
The demand for bakery products is increasing owing to the healthy, organic, and naturally baked products among consumers which are expected to create an impact on the bakery flexible packaging market. Increased innovation in flavors and ingredients increases the sales of bakery products which in turn is expected to spur the sales of bakery flexible packaging.
The continuously growing bakery industry is projected to drive he bakery flexible packaging market. The incremental trends in the bakery flexible packing market are about to boost innovative packaging amid bakery products and the food packaging industry.
North America dominated the bakery flexible packaging market and accounts for the highest share of the global bakery product market. Also, the growing preference for flexible packaging by manufacturers due to marketing advantages is expected to favour the product demand in the region. Asia pacific is anticipated to register rapid growth in bakery flexible packaging market on account of increased disposable income and growth of urban population.
FMI research indicates bakery flexible packaging solutions show great potential for not only durability but improving outcomes for buyers in different areas. The bakery flexible packaging should meet the objectives like:
To meet all these objectives, the manufacturer offers a wide selection of packaging options in sizes, shapes, and materials with easy-to-open formats to bring out the best in food packaging. Some of the leading players operating in the market are Amcor Plc, Berry Global Inc, Mondi Plc, and Charter Next generation. The leading players in the market invest in product improvement and quality testing, developing new facilities for gaining better revenues.
For instance, in December 2022 - Amcor global leader in responsible packaging solutions, announced the opening of its new manufacturing plant in Huizhou, China. The company invested almost $100 million, for a plant capacity of 590,000-square-foot, for the largest flexible packaging plant by production capacity in China, this will be strengthening Amcor’s ability to meet growing customer demand throughout Asia Pacific.
Bakery flexible packaging are used as packaging material for the bakery product to store the item safely without getting affected by external residues. The Bakery Flexible Packaging are light in weight which makes the transportation and storage function easy. Moreover, the flexible films can be molded as per the size and shape of the bakery item.
Also, the films keep the product life duration preserved by protecting the food from climatic factors. Also, the films used for bakery items also work as a tool of advertisement which raise their popularity among the end users.
The bakery product is witnessing rising demand due to increase in urbanization and also, inclination towards ready-to-eat food increasing due to the changing lifestyle which boost the sales of bakery products. The rising sales of bakery products have a positive impact on the Bakery Flexible Packaging market.
The bakery industry prefers packaging films over other convectional packaging due to the stretch and wraparound feature of the films. Also, product visibility is possible using the packaging films which attract the customer to purchase the product. This leads to an increase in the use of packaging films in the bakery industry.
Moreover, the packaging films have high strength, flexibility, and high resistance to damage which attracts the bakery industry. Overall, the market for Bakery Flexible Packaging is anticipated to rise in the foreseeable period with the increase in usage of bakery products.
The major factor driving the growth of Bakery Flexible Packaging is the property of the packaging films and the need towards protecting the bakery item from getting damaged due to the rising demand for bakery food. The increasing demand for the bakery product is uplifting the sales of the product which is a positive signal for the Bakery Flexible Packaging market.
Furthermore, the import-export of a bakery product is also increasing which boosts the Bakery Flexible Packaging market. Also, the need towards healthy food as well as the baked food is increasing day-by-day which leads the growth of Bakery Flexible Packaging market.
Moreover, the customers need towards balancing their work life make them purchase the bakery products and this push the sales of Bakery Flexible Packaging to ensure the safe delivery of bakery product. In addition to it, the attraction towards product due to the product visibility through films inclines the customer to purchase the same and this indirectly uplifts the Bakery Flexible Packaging market growth.
The factor that hinders the growth of the Bakery Flexible Packaging market is the waste been generated after the usage of films. The major portion of Bakery Flexible Packaging are non-biodegradable as well as non-recyclable which induce the environmental impact on a significant scale.
This challenge can be overcome by developing sustainable films which may serve the basic function of traditional packaging film as well as may benefit the environment by minimizing the waste. Also, the availability of raw materials would hamper the growth of the Bakery Flexible Packaging market considerably.
The trends towards purchasing or ordering food online are rising due to the time and place convenience offered by online platforms. Customers are ordering their food including bakery products online which will raise the demand for the Bakery Flexible Packaging as the bakery product producer will ensure that their product reaches the customer safely and in proper condition.
Also, considering from local bakery to international bakery everyone is logging online to sell their product which will require proper packaging of their product and that will boost the demand for the packaging film market.
The growing online food market including bakery products indirectly will lead the Bakery Flexible Packaging market with the need to deliver the product without causing damage and also being ahead of other competitors.
The Bakery Flexible Packaging work as an advertisement tool for the bakery product manufacturers. The bakery manufacturers can customize its packaging film as per its need and that will make the product look aesthetically appealing which will attract the customers.
The bakery product manufacturer can print its label or logo or information on the packaging film which will reduce the advertisement cost by avoiding extra packaging for product-related information. Moreover, the visibility of product through Bakery Flexible Packaging attract the customer and thus, boost the sales of bakery product.
The transparency feature of Bakery Flexible Packaging boosts the market for the bakery product which in turn accelerate the Bakery Flexible Packaging market growth.
Key players operating in the Bakery Flexible Packaging market are
The competition in the Bakery Flexible Packaging market is growing because of the increasing demand for bakery products and various features of the packaging film. The competitor needs to be competitive enough to survive in the market and also need to focus on the sustainability aspects due to its on-going trend. The success achieved by key players using various strategies are as below: -
Europe and North America dominates the global bakery product market as they account for the maximum market share in the global bakery product market. The demand for bakery products in these two regions is growing at a faster pace which will raise the demand for packaging films.
Even the import of bakery product in North America is maximum which generates the sales of Bakery Flexible Packaging. Also, the increasing consumption as well as health consciousness increases the need to protect the bakery product from microorganism and also to ensure safety which uplifts the Bakery Flexible Packaging market.
Moreover, due to changing lifestyles and preference the demand for ready-to-use as well as healthy food is increasing which led to the demand for the Bakery Flexible Packaging in the market.
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