Sugar Packaging - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Sugar Packaging Market is growing at a CAGR of 5.8% during 2019-2027. Increasing demand for customized packaging formats and sustainable materials such as paper-based pouches, and a steady increase in the consumption of sugar in major countries such as India, China, and EU regions are driving the growth of the market. However, due to outbreak of COVID-19, there is a decline in demand for sugar from the bulk consumers as commodities like ice cream, cold drinks, and confectionery are produced less during this period and thereby restraining the development of the market.
Sugar refers to a sweet crystalline substance which is prepared from sugar cane and sugar beet. It is used across the globe for innumerable food and non-food applications. Sugar packaging is done in a variety of formats, both in bulk and retail. The advent of modern high-quality printable packaging formats has led to the usage of sugar packaging not only for the protection of sugar substances but also as promotional tools. The packaging consequently preserves strength and sweet flavor of the sugar for a longer period.
Based on the material type, the plastic segment is likely to have a huge demand due to plastic packaging solutions offer functionality that is difficult to replicate with any other packaging material. Within plastic solutions, flexible plastic packaging uses over 70% less plastic raw material than rigid-based packaging products, thereby reducing raw material input requirements.
By geography, the Asia Pacific is estimated to have a lucrative growth during the forecast period owing to the increasing rate of population, growing income levels, changing lifestyles, improved media infiltration, and mounting economy.
Some of the key players profiled in the Sugar Packaging Market include Berlin Packaging, Klabin S.A., Mondi Group, Packman Industries, Swiss Pack Pvt. Ltd., United Bags Inc, FLexPack, Grupo Bio Pappel, TedPack Company Limited, BillerudKorsnas Group, Bormioli Rocco Glass Co. Inc, Trombini Embalagens S/A, and Swedbag AB.
Packaging Types Covered:
• Bags & Pouches
• Custom Packaging
• Sachets & Containers
Material Types Covered:
• Cane Sugar
• Caster Sugar
• Granulated Sugar
• Pearl Sugar
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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