Thursday 11 June 2015, Amsterdam
The report, now available on ASDReports, “Stick Packaging Market by Material (Polyester, Paper, BOPP, Aluminum, Metallized Polyester, Polyethylene, Others), by Application (Food & Beverages, Pharmaceuticals, Consumer Goods, Nutraceuticals, Others), by Region - Trends & Forecasts to 2020” defines and segments the global stick packaging market with analysis and forecasting of the global revenue for stick packaging. It also identifies the driving and restraining factors of the market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges.
The market is segmented and market size is forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). The key countries are covered and their market sizes have been forecasted for each region. Further, the market is segmented and sizes are forecasted on the basis of applications.
The stick packaging market has a positive outlook due to high growth in the flexible packaging industry. Rising per capita income and the rising trend of convenient and eco-friendly packaging are accelerating the demand for stick packs. Consumer preference in emerging economies such as China, Brazil, and South Africa are gradually transitioning from traditional rigid packaging to new innovative flexible packaging. The U.S. and China are projected to witness the highest demand for stick packaging in the coming years. The demand for stick packs is projected to rise in developing countries such as China, Brazil, and some other Asia-Pacific countries including India and Thailand.
The global market for stick packaging witnessed rapid growth in 2012, and is projected to grow at a CAGR of 6.26% during the review period, to reach $316.61 Million by 2020. North America dominated the market for stick packaging, with a share of 41% in 2014; this market is driven by increase in demand for value-added products, competition, aggressive pricing, and rising consumer spending. The Asia-Pacific region is projected to become the fastest-growing market for stick packaging.
The stick packaging market has expanded with developments in the flexible packaging industry. The demand for material used in stick packs is growing at a significant pace and is projected to grow at an even higher rate in the near future. With the rising population and increased incomes of people, the packaging industry is booming, and consequently, so is the stick packs market.
The stick packaging market can be classified into four main categories based on application: food and beverages, pharmaceuticals, consumer goods, and nutraceuticals.
The market for stick packaging is driven by demand from the flexible packaging industry. The busy lifestyle of consumers has encouraged consumption of on-the-go products. Most importantly, the changing preference of consumers from rigid to flexible packaging has given a boost to the stick packaging market.
The global stick packaging market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches, mergers & acquisitions, and partnerships & expansions are the key strategies adopted by market players to ensure their growth in the market. Companies such as Amcor Limited (Australia), Constantia Flexibles (Austria), Huhtamaki OYJ (Finland), Mondi Group (South Africa), and Sonoco Products Company (U.S.) are some of the prominent companies in the stick packaging market, comprising 73.60% of the total market share.