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The chocolate packaging market share is expected to increase by USD 3.82 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.13%.
This chocolate packaging market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers chocolate packaging market segmentation by type (flexible packaging and rigid packaging) and geography (Europe, North America, APAC, MEA, and South America). The chocolate packaging market report also offers information on several market vendors, including Amcor Plc, AS Food Packaging, ATP - Engineering & Packaging SL, Futuristic Packaging Pvt. Ltd., John C. Brow Ltd., Mondi Group, Smurfit Kappa Group Plc, Swiss Pac Pvt. Ltd., WestRock Co., and Wihuri International Oy among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The premiumization of chocolate packaging is notably driving the chocolate packaging market growth, although factors such as an increase in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the chocolate packaging industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Chocolate Packaging Market Driver
The premiumization of chocolate packaging will fuel the growth of the chocolate packaging market size. There is an increase in the demand for premium chocolates across the globe due to which vendors are innovating premium cardboard-based luxury packaging solutions. Chocolate manufacturers are positioning premium chocolates as well as premium chocolate packaging as gifting options. Consumers get attracted by the exclusiveness of the packaging, thereby fostering the demand for premium and luxury packaging, further boosting the chocolate packaging market across the globe. Unique consumption experiences are increasing the demand for these chocolates, especially in the festive season, and keeping consumers coming back for more.
Key Chocolate Packaging Market Trend
This significant increase in the demand for chocolate, especially in the festive seasons, is estimated to boost the demand for the chocolate packaging market across the globe during the forecast period. The demand for chocolate increases manifold during the festive season as individual chocolate consumption increases along with the rising trend of gifting chocolate. Chocolate brands are aware that holidays are gift-giving occasions, and therefore, they manufacture different types of chocolates with alluring packaging to cater to consumer demand. The packaging of seasonal chocolates includes special features and designs related to the festival or the season. There is a high demand for special packaging for seasonal chocolates across the globe, and it is increasing on a year-over-year basis.
Key Chocolate Packaging Market Challenge
An increase in raw material prices is a major hindrance to the chocolate packaging market growth. The raw material for the chocolate packaging market is divided into segments, including flexible chocolate packaging and rigid chocolate packaging. Flexible chocolate packaging includes aluminum foil, paper, and plastic, whereas rigid packaging includes metal such as tin, cardboard, and plastic trays. An increase in the price of propylene in the US is having a direct impact on plastic packaging prices, which is increasing the overall cost of chocolate packaging in the country. This increase in price is due to more demand and inefficient supply of the material, which is estimated to rise in the forecast period. Along with this, aluminum prices are also expected to rise in the forecast period. Adding to it, an increase in the paper price is leading to a rise in the price of cardboard, and these are estimated to have a direct impact on the global chocolate packaging market.
This chocolate packaging market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global chocolate packaging market as a part of the global metal and glass containers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the chocolate packaging market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the chocolate packaging market encompasses successful business strategies deployed by the key vendors. The chocolate packaging market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The chocolate packaging market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the chocolate packaging market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the metal and glass containers market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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