Stick Packaging Market: Analysis, Trends, Opportunity, Market Size and Segment Forecasts
According to the latest market report published by Transparency Market Research, titled "Stick Packaging Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2027," the need for portion control and exact dosage in pharmaceuticals and food & beverage industries is expected to fuel the global stick packaging market during the forecast period, 2019-2027. Globally, the revenue generated from the sales of stick packaging products have been estimated to be around US$ 1,051.9 Mn in 2018 and are projected to expand at a CAGR of 5.2% by value, during the forecast period.
Stick packs are tube-shaped, elongated packets which are sealed at both ends. These are preferred for packaging due to their sustainability, convenience, and quality. Stick packaging reduces carbon footprint due to its compact size. Usually, length of stick packaging is at least four times longer than its width. Stick packaging finds useful applications in pharmaceuticals, nutraceuticals, food, beverages, and cosmetic industries, where it offers single-serve packaging solutions to customers. Stick packaging is desirable and easy-to-handle packaging solution for on-the-go applications.
In the stick packaging market, the food & beverage sector is expected to drive the market. Stick packaging provides travel accessibility, regardless of the demographic as stick packs can fit anywhere. Besides, stick packaging is conducive to immediate consumption. Nowadays, stick packaging products are lending themselves a part of a larger finished product matrix such as meals boxes, and assist on-the-go consumption. Also, a remarkable benefit of single-serve stick packaging originates from their capability to provide freshness and extend the shelf life of food & beverages.
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Stick packaging is now an essential part of various application segments including pharmaceuticals, cosmetics & personal care, industrial, and others. In the pharmaceuticals industry, single-serve packages are more effective as compared to larger packs which are opened and closed several times and lead to the introduction of moisture, contamination, and waste into the packs. Also, stick packaging offers self-explanatory dosages and uniformity in usage, thus focusing on portion control. Moreover, the usage of stick packaging eliminates confusion regarding dose variances and risks associated with them.
Manufacturers also produce stick packaging which features a multi-laminated film structure that can be united to optimize moisture and oxygen-barrier properties, precise dosing fill, and dimensional output to reduce manufacturing waste. Overall, the global stick packaging market is expected to witness positive growth throughout the forecast period.
The stick packaging market is expected to witness lucrative growth opportunities
Nowadays, consumer needs and preferences are changing rapidly. In urban areas, for instance, customers are looking for varied choices in terms of price, quality, and functionality of packaging for products such as beverages, instant drinks, condiments, pharmaceuticals, & nutraceuticals. Generally, consumers gladly pay for products that make their hectic on-the-go lives a bit easier. Small-pack sizes, such as stick packaging products are more economical and affordable than large-sized packages. The quantity of small packages has therefore risen globally to meet these growing demands. Before new products or pack sizes are launched or tested, the foremost priority for manufacturers is to decide the target market.
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The food & beverage market creates immense opportunities for stick packaging. Consumers want healthy food and beverage options at their fingertips. The on-the-go generation seeks out coffee shops and healthy fast-food outlets for a variety of options. Consumers prefer stick packaging for food and beverages as it offers a healthy single-serve option for the customers. For instance, drink mixes such as powdered coffee or instant drinks for bottled water, are easy to transport due to their small sizes and low weight, ensuring convenience for consumers. Moreover, the hospitality industry specifically depends on stick packaging where products such as coffee creamers, sugar, milk, drink mixes, and others are all packaged in a suitable format to offer customers a great experience. These factors are expected to propel the growth of the global stick packaging market throughout the next decade.
Manufacturers operating in the stick packaging market-
Key players which have been profiled in the report on the stick packaging market include Amcor Limited, Bemis Company Incorporated, GSC Packaging Inc., T.H.E.M., Sonic Packaging Industries, GreenSeed Contract Packaging, Aristo Pharma GmbH, Aaron Thomas Company, Inc., Ion Labs Inc., Hearthside Food Solutions LLC, GFR Pharma, Glenroy, Inc., Nellson Anaheim, GreenSeed Contract Packaging, Label Impressions, Inc., and Contract Pharmacal Corp. among others.
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