Sugar Packaging Market 2021 Analysis by Global Manufacturers – Mondi Group, United Bags Inc., FLexPack, Grupo Bio Pappel, Swiss Pack Limited, Packman Industries, TedPack Company Limited, BillerudKorsnäs Group

The Sugar Packaging Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. The Report Analyses post COVID-19 (Corona Virus) impact on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry is pointed out.

The sugar packaging market is expected to reach a CAGR of 4% during the forecast period (2021 - 2026). The changing lifestyle of the people and changing food preferences of consumers, along with the increasing population in developing nations, is expected to drive the market's growth in the forecasted period. The global consumption of sugar is likely to reach 177.8 million metric tons in 2020-2021 from 171.58 million metric tons in 2019-2020, according to the US Department of Agriculture.

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The 120 Pages report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Sugar Packaging Market: Mondi Group, United Bags Inc., FLexPack, Grupo Bio Pappel, Swiss Pack Limited, Packman Industries, TedPack Company Limited, BillerudKorsnäs Group

Some of the key developments in the market are:

- In June 2020 - Mondi, a global packaging and paper group, has completed the implementation of a new state of the art paper sack converting machine at its Nyiregyhaza site in Hungary. The machine can allow the plant to open a new line of paper sacks for food packaging and can help to produce more than 130 million sacks annually.

Market Overview:

- The market is driven by a tremendous shift in preference for flexible packaging as sugar is packed in a variety of formats, both in bulk and retail. The advent of new packaging technologies, such as active packaging, intelligent packaging, and engineering science, enables flexible packaging for sugar and enhances the shelf life of sugar. According to the Flexible Packaging Association, in 2018, Food end-user segment contributed to 70% of total flexible packaging revenue worldwide (USD 31.8 billion), which is USD 22.6 billion.

- The rapid growth of the market is primarily driven by technology-enabled solutions such as QR codes, smart labels, etc. that can be scanned using a smartphone to provide more information about the product. Also, customers look for clear product information and biodegradable, recyclable, or reusable packaging. Hence, the packaging industry is evolving to cater to the changing preferences of the consumers.

- Moreover, considerable investments in the food processing industry end-user industries create scope for expansion of the packaging market. According to recent data released by the Associated Chambers of Commerce and Industry of India, the market size for organized packaged food is expected to reach INR 780 million, in 2020, from INR 530 million, in 2016.

- Due to the outbreak of COVID-19, the sugar packaging industry is significantly impacted. There is a drastic decline in demand for sugar from the bulk consumers as commodities like ice cream, cold drinks, and confectionery are produced less during this period. Moreover, hotel, retail, and catering market segment, which are one of the largest consumers of sugar, are severely impacted by the national lockdown.

Plastic Material to Hold Significant Market Share

- Plastic Material is expected to hold significant market share as there are applications where plastic packaging solutions offer functionality that is difficult to replicate with any other packaging material. For instance, barrier properties for food or product preservation. Within plastic solutions, flexible plastic packaging uses over 70% less plastic raw Material than rigid-based packaging products, thereby reducing raw material input requirements.
- Packaging sugar with a plastic bag is the most common packaging type in the food packaging industry as this type of packaging offer moisture-proof, waterproof, and cost-effective packaging. Sugar manufacturers prefer this packaging as plastic bags can be colored or transparent to make it attractive. This packaging is widely used in both famous confectionery brands and familiar brands.
- Moreover, in January 2020, South Africa companies, including Unilever, Coca-Cola Africa, Danone, SPAR, and Massmart, announced the force  Plastic Pact to reduce plastic usage following similar commitments from the UK, France, Chile, and the Netherlands. The companies are aiming at all plastic packaging reusable, recyclable or compostable by 2025. Additionally, they aim to recycle 70% of plastic packaging and use 30% recycled content across any plastic packaging. This recycling trend is expected to continue in recent years, which is estimated to impact the plastic packaging market for further product development in the market.

The report has 150 tables and figures browse the report description and TOC:

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Asia-Pacific to Witness Highest Growth

- Asia-Pacific to register the highest growth as the food packaging industry in the region is witnessing significant innovations in branding and packaging. Moreover, consumers in the region enjoy sugar confectionery for indulgence, where the experience is highly valued. India and China are the leading countries in the global consumption of sugar with 27 million metric tons and 15.2 million metric tons, according to the US Department of Agriculture.
- Moreover, owing to the rising population, increasing income levels, changing lifestyles, increased media penetration, and growing economy, the demand for packaging is growing. Also, it is one of the strongest growing sectors in the region. In India, more than 49% of the paper produced in the country is used for packaging purposes, according to Care Ratings, a prominent credit rating company in India,
- Furthermore, several regulations govern the packaging industry in the region, especially the food and beverage packaging sectors. Some major regulations include the Prevention of Food Adulteration Act 1956, Plastic Waste (Management and Handling) Rules 2011, and Food Safety and Standards (Packaging and Labelling) Regulations 2011.
- However, regulations about the use of paper and pulp in the food industry are expected to proliferate the market. For instance, the Food Safety and Standards Authority of India introduced new packaging regulations in 2018. The rules are expected to promote the use of paper in the food packaging industry. The IS 4664: 1986, a BIS standard for paper products that permits the use of recycled pulp for Food Packaging, is expected to promote the use of paper in the sugar packaging industry in India.

Competitive Landscape

The sugar packaging market is moderately fragmented. Players in the market are offering extensive product customization to increase their share and augment their revenue. Players are striving to replace existing materials with biodegradable ones to meet changing government standards. 

Influence Of The Sugar Packaging Market Report:

-Comprehensive assessment of all opportunities and risk in the Sugar Packaging market.

- Sugar Packaging market recent innovations and major events.

-A detailed study of business strategies for growth of the Sugar Packaging market-leading players.

-Conclusive study about the growth plot of Sugar Packaging market for forthcoming years.

-In-depth understanding of Sugar Packaging market-particular drivers, constraints and major micro markets.

-Favourable impression inside vital technological and market latest trends striking the Sugar Packaging market.

What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.

Analytical Tools: The Sugar Packaging Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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