Sugar Packaging Market
Sugar packaging is done in a variety of formats, both in bulk and retail. There are a number of products available in the market for sugar packaging. The sugar packaging market is witnessing a tremendous shift in preference for flexible packaging formats. Manufacturers of sugar packaging are also incorporating technologies, such as QR codes. The advent of modern high quality printable packaging formats has led to the usage of sugar packaging not only for protection of sugar substances, but also as promotional tools. The global industry is characterized by intense competition due to the involvement of several packaging formats. Sugar is a commodity product and therefore, witnesses high rate of consumption. Manufacturers of sugar packaging solutions are expected to make persistent efforts to adopt sustainable packaging solutions. The outlook for growth of the global sugar packaging market is expected to be highly positive during the forecast period as flexible packaging solutions are moving towards market dominance.
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Global Sugar Packaging Market: Dynamics
The concerned global industry is expected to grow on the backdrop of growth in the flexible packaging industry. The sugar packaging market will be largely influenced by the ongoing shift in preference towards sustainable packaging solutions. One of the key factors expected to provide an edge to the global market is customizability. Sugar packaging solutions are highly customizable and manufacturers differentiate their products through printed packaging solutions. Sugar packaging solutions are aimed at enhancing consumer appeal. In addition, bulk sugar packaging solutions are mostly used for B2B sales. Paper sacks are one of the most commonly used packaging formats for sugar packaging.
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Global Sugar Packaging Market: Regional Outlook
The Asia Pacific is expected to be at the forefront of the global sugar packaging market in terms of market size and growth during the forecast period. Countries, such as India and China, are anticipated to remain the leading contributors to the growth of the Asia Pacific market. North America is expected to be a significant contributor to the growth of the global market, given the high super intake per day by an average American. The U.S. market is anticipated to account for the larger share of the North America sugar packaging market during 2018-2028. In terms of average sugar consumption per person per day, the United States ranks on top with an estimated 126.4 grams. The Europe market is expected to closely follow its North American counterpart, with countries, such as Germany, the Netherlands, the U.K., Belgium, and Finland, being in the list of top ten countries with highest sugar consumption.
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Sugar Confectionery Market
The top five players in the Asia Pacific sugar confectionery market, namely Nestle S.A., Perfetti Van Mella SpA, Mondelez International Inc., Ferrero Group, and The Hershey Co, accounted for a combined share of just over 51% in 2014. Similarly, the leading five companies in the market in Latin America held a share of just over 47% in 2014. These players are Nestle, Mondelez, Mars, Ferrero, and Arcor. These figures by