[FURL=https://www.industryarc.com/Report/15085/stick-packaging-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Stick Packaging Market[/FURL] is forecast to reach US$2.1 billion by 2027, after growing at a CAGR of 5.6% during 2022-2027. Globally, the increasing need for accurate dosing and portion control in the pharmaceutical industry is the critical factor estimated to fuel the demand for stick packaging over the forecast period. In addition, the growing need for biaxially oriented polypropylene, metalized polyester, polyethylene, and other packaging material for the packaging of standup pouch will further drive the market growth. Rising demand for packaged food due to its health benefits and busy lifestyle for consumers who prefer packaged products are some of the other factors expected to drive the growth of the global stick packaging market.Key Takeaways
The Asia-Pacific region dominated the stick packaging market due to the rising growth of the pharmaceutical, food and beverage, personal care, and cosmetic industries. For instance, according to the International Trade Administration in Indonesia, the beauty and personal care product market revenues are expected to reach US$ 7.5 billion in 2021 and expand at a 6.5% compound annual growth rate through 2025.
An increase in demand for flexible packaging, which is considered more cost-effective and efficient than any other type of packaging, is one of the primary factors driving the growth of the stick packaging market.
In the foreseeable future, advancements and innovations in packaging solutions to improve product safety is expected to boost stick packages adoption over the forecast period.
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Stick Packaging Market Segment Analysis – By Geography
North America region dominated the stick packaging market with 37% in 2021. The growing working population in the region, coupled with their busy lifestyles, has given rise to the need for on-the-go consumable products, enabling people with travel accessibility and ease of consumption. The market in the region is also witnessing strategic expansions, thus offering companies lucrative opportunities to increase their production capacity and, in turn, to stimulate market growth. For instance, in February 2019, Cascata Packaging announced multi-million-dollar plant expansion
Stick Packaging Market Drivers
Increasing Demand for Stick Packaging across Food Industry will Drive the Growth of the Market
Product Safety and Lower Stick Packaging Costs will Boost the Market Growth
Stick Packaging Market Landscape
Major players in the stick packaging market include Bemis company, Amcor Corporation, Bosch Packaging Technology, Reynolds Group, Smurfit Kappa Group, Berry Plastics, Exair Corporation, Rpc Group, Sanofi-aventis SpA, Coveris Rexam, and others.
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