Bakery Packaging Market by Material and Packaging Technique 2018-2023: Napco Security Technologies, WestRock, Brow Packaging, Reynolds Group, Amcor, Crown Holdings, Mondi, Unger, Genpak and Sydney Packaging

Industry Outlook and Trend Analysis
The Bakery Packaging Market was worth USD 247.45 billion in the year 2014 and is expected to reach approximately USD 348.27 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.87% during the forecast period. Rising interest of consumers towards frozen and packaged sustenance products which is ascribed to fast urbanization and rising per capita customer income majorly in the rising economies is probably going to make an unmistakable commitment towards bakery packaging market amid the conjecture time frame. Additionally, retailer's inclination for single serving and multipacks as they involve low shelf space empowers them to offer shoppers with new and various assortments of bakery products in attractive amounts which will help accomplish huge bakery packaging market measure on the upcoming years. Storage comfort, accessibility of variable sizes and reasonable costs are a few components which might decidedly impact the bakery packaging market measure in the coming years.

Competitive Insights
The market is highly competitive with the presence of some leading players such as Napco Security Technologies, WestRock, Brow Packaging, Reynolds Group, Amcor, Crown Holdings, Mondi, Unger, Genpak and Sydney Packaging. Organizations are continuously adding up to its product portfolio for retention of existing consumers and new customers acquisition.

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Material Outlook and Trend Analysis
On the basis of material, bakery packaging market estimate is ordered into rigid, metal and flexible packaging. In 2016, flexible section represented the biggest share of the aggregate bread kitchen bundling market measure and is expected to reflect comparative development slants throughout the following couple of years. Flexible bakery packaging portion incorporates biaxial-situated polyethylene terephthalate (BoPET), having predominant rigidity, chemical stability, transparency and tensile strength. Rigid bakery packaging market demand is energized by progression in polymer bundling materials and extension of retail distribution chain. Products including thin wall and plastic boxes packaging helps in upgrading brand advance and innovation.

Packaging Technique Outlook and Trend Analysis
In terms of packaging technique, the worldwide bakery packaging market estimate is fragmented into gas packaging, active packaging, flushing with inert gases, modified atmosphere packaging and vacuum packaging. Vacuum bakery packaging market estimate has picked up prominence as of late because of its fixing properties which shields food products from moisture and oxygen. Modified atmosphere packaging is one of the most favored systems for packaging as it increases the shelf-life of food products by controlling the odor & taste, color, moderating the aging procedure and anticipating anaerobic organism’s development on bakery products.

Regional Outlook and Trend Analysis
North America is foreseen to lead the worldwide bakery packaging market measure over the gauge timespan. This is credited to the rising requirement for confectionary and bakery products and perpetually growing food & beverage industry in the locale. North America food & beverage sector is foreseen to develop at a significant rate which will drive bakery packaging market in the upcoming years. Asia Pacific is foreseen to witness fast development in the bakery packaging market measure in the coming years attributable to the changing usage propensities and rising interest for single serve packs for biscuits, frozen food , confectionary and breakfast cereals. The business sectors in Middle East and Africa are foreseen to demonstrate slow development because of the emerging food & beverage industry in this district.

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The Bakery Packaging Market is segmented as follows-
By Material:
Metal packaging
Flexible packaging
Rigid packaging

By Packaging Technique:
Gas packaging
Vacuum packaging
Active packaging
Modified atmosphere packaging
Flushing with inert gases

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This release was published on openPR.