Consumer demands have changed the landscape of the confectionery packaging industry. Estimated to be at a value of 10.9 billion U.S. dollars, the confectionery packaging market is expected to grow at a compound annual growth rate of 3.8 percent, equalling its estimated value for 2027 at 13.2 billion U.S. dollars.
Between 2015 to 2021, the annual compound growth rate was 0.5 percent less, at 3.3 percent. This growth rate change is attributed to the greater consumption rate of confectionery products and the variety available from which consumers choose. Specifically, chocolate, followed by sugar confectionery, has 89 percent of the market value share as of 2022.
Smaller-size confectionery products and reclosable pouches are popular amongst consumers and health professionals. The small pack size and portions allow calorie intake regulation, supported by Government initiatives regarding sugar and obesity.
However, the value of smaller packages and resealable pouches is also due to consumer desire to frequent their consumption. Resealable packaging maintains the quality of the product and allows consumers easy accessibility to their confectionery while on the go.
Finally, the reclosable packaging makes for more appealing merchandising for retailers. Therefore, manufacturers are receiving a great demand for packaging and diversity to suit consumer demands.
The global confectionery market saw negative growth during the height of the pandemic as it disrupted the supply chain and availability of raw materials, compounded by government restrictions.
However, consumer buying habits changed throughout the pandemic, which ultimately positively impacted the confectionery market following the uplifting of government restrictions. Consumers began preferring various products and packaging, driving market growth and opportunity for packaging.
Germany holds most of the Western European confectionery packaging market and will account for 24 percent by 2027. The United States possesses the greater part of confectionery packaging for North America and will account for 93 percent by the end of the next five years.
