Stick Packaging Market 2022 | Growing Demand For Packaging Products Worldwide

According to Precision Business Insights (PBI), the latest report, the stick packaging market is expected to be valued at USD 356.3 million in 2022, growing at a 6.5% CAGR from 2022 to 2028. The primary driver of the expansion of the global stick packaging market is the continuous increase in the demand for foodstuffs and pharmaceuticals products with the rising population which absolutely pushes the stick packaging market.

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Food & Beverage Industry Segment to Dominate the Stick Packaging Market:
The food & Beverage segment is expected to hold a larger revenue share in the global Stick Packaging market, with a value share worldwide. With the increasing population worldwide, foodstuffs demand at every location rising globally. The on-the-go generation seeks out coffee shops and healthy fast-food outlets for a variety of options. Consumers choose stick packaging for food and beverages as it proposes a healthy and easy-to-delivery, and minimum wastage of foodstuffs, this will surely expand the market globally. This market offers a variety of options in food and beverage sectors such as drink mixes, powdered coffee, or instant drinks for bottled water, which are easy to convey due to their small sizes and low weight, ensuring customization of products as much as possible. Additionally, the hospitality industry majorly depends on the stick packaging market where a variety of products such as coffee, sugar, milk, creamers, drink mixes, and others are all packaged in an appropriate format to offer customers. The food & beverage market creates huge opportunities for the Stick Packaging Market in the forecasted period owing to the working on the limitations of the market that is limited capacity packaging material and many more.

Asia Pacific Stick Packaging Market:
North America is expected to increase in the global Stick Packaging market over the forecast period. With rising accessibility and portability of stick packaging, feasible pricing, rising consumer spending, and the move from rigid to flexible, these aspects will surely lead the Stick Packaging market in this region in the coming next years. The Asian market is expected to register a significant revenue share in the forecasted period attributed to the emergence of a large number of key players, and the rising population which increases the demand for foodstuffs and pharmaceutical products which in turn absolutely boosts the demand for the market.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global stick packaging market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The stick packaging market is segmented based on material type, application, and geography.
Based on the material type, the market is segmented into the following:
• Polypropylene
• Polyester
• BOPP
• Aluminium
• Metallized Polyester
• Paper
• Polyethylene

Based on the application, the market is segmented into the following:
• Food & Beverages
• Consumer Goods
• Nutraceuticals
• Pharmaceuticals

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the Stick Packaging market report are Hearthside Food Solutions LLC, Amcor Plc., Naturelle Ltd., Glenroy, PrintPack Inc., Sharp, Fresco Systems USA Inc., Aranow, Nellson Anahem, GFR Pharma Ltd., Catalent Inc., Assemblies Unlimited Inc., and Lithotype.

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This release was published on openPR.