The global twist wrap packaging market size was worth around USD 330 Billion in 2022 and is predicted to grow to around USD 506 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2023 and 2030.
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➤ The market growth is driven by the strategies of the main players and the expanding confectionery industry.
Chocolate, chewing gum, candies, toffee, marshmallows, biscuits, ice cream, and other confectionery products are among the products that confectionery product manufacturers offer. Furthermore, the global twist wrap packaging market is experiencing a surge in growth as a result of the increasing investments of the leading players in social media marketing, promotional activities, and advertising campaigns. Nevertheless, it is expected that the quality of these products will be guaranteed by government regulations in countries such as the United States, Germany, the United Kingdom, China, and India.. The established federal guidelines and regulations guarantee the hygienic standards for consumption. Consequently, it is anticipated that this will contribute to market expansion during the forecast period.
➤ The market growth is impeded by the expensive cost of the packaging.
The cost of raw materials, including metals, paper, and plastic, which are utilised to manufacture a diverse array of flexible packaging products, is increasing. Furthermore, the price of polypropylene, which is employed in resins, bottles, and packaging films, has increased due to a scarcity of supply. The flexible packaging industry’s capacity to compete has been compromised as a result of these factors. Consequently, the global twist wrap packaging market is anticipated to experience growth challenges during the forecast period due to the high cost of this packaging.
➤ A lucrative opportunity is presented by the introduction of new products.
During the forecast period, the twist wrap packaging industry is anticipated to capitalise on an appealing opportunity for expansion through the introduction of new products. For example, in January 2022, Amcor, a leader in the development of ethical packaging solutions, introduced the AmFiberTM platform of paper-based packaging goods. AmFiber’s innovations are designed to reimagine the potential of traditional paper packaging by providing a broader array of features and practical advantages to meet the evolving needs of consumers.
➤ Recyclability presents a significant obstacle.
Flexible pouch recycling necessitates numerous processes to separate the components, rendering it both financially unfeasible and laborious. In contrast to rigid plastic products, FDA regulations prohibit the use of recycled flexible packaging to package food or pharmaceuticals. Recycled material may be employed exclusively in other applications. The recycling process encompasses the collection, sorting, and recycling of refuse. During these processes, the materials undergo shredding, rinsing, plastic classification, and extrusion.
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The Global Twist Wrap Packaging Market is segmented based on product, application and region
Global Twist Wrap Packaging Market: Product Segment Analysis
● Plastics
● Polyethylene
● Cellophane
● Wax Paper
● Polypropylene
● Polyvinyl Chloride
● Aluminum
● Others
Global Twist Wrap Packaging Market: Application Segment Analysis
● Confectionery Packaging
● Chocolate Bars
● Candy
● Jelly
● Gift Wraps
● Others
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The global Twist Wrap Packaging market profiles key players such as:
● Polysack Flexible Packaging Ltd.
● Sunpack Corporation
● Rathna Packaging India Pvt. Ltd.
● Amcor plc
● Manish Packaging Pvt. Ltd.
● Aim Packaging
● Mayur Polyfilms Pvt. Ltd.
● Webpac Ltd
● Esterindustries.com
● LyondellBasell Industries Holdings B.V.
● Print Home
● Catty Corporation
● UFlex Limited
● R. R. Flexipack Pvt. Ltd
● Huhtamaki
???? Recent Developments:
• Mondelez International, Inc. acquired Clif Bar & Company, the largest American manufacturer of healthful energy bars with organic ingredients, in August 2022. Mondelez International’s global snack bar business will now be valued at over $1 billion as a result of the acquisition. This acquisition will complement the company’s refrigerated snacking business, Perfect Snacks, in the United States and its leading performance nutrition business, Grenade, in the United Kingdom, with top brands such as CLIF®, CLIF Kid® and LUNA®. This acquisition also advances the company’s goal of restructuring its portfolio to generate more sustainable and substantial growth.
• Mondelez International’s Cadbury introduced the Twist Wrap packaging solution for its Duos line in January 2022. This solution allows customers to nibble in small portions by twisting and sealing the container after consuming half of the chocolate bar. Cadbury claims that this action will promote “more mindful snacking” and “better portion control” by utilising the solution for the first time on a chocolate brand in the UK.
➤ It is anticipated that the Asia Pacific region will secure the highest market share during the forecast period.
The global twist wrap packaging market share is anticipated to be dominated by the Asia Pacific region during the forecast period. The availability of economical labour and the increased domestic demand make this region the most appealing market for manufacturers of flexible packaging. Consequently, market participants prioritise this region in order to enhance their profitability and market share. Expansion and investments are among the primary strategies employed by leading companies to fortify their positions in the flexible packaging market. Other noteworthy strategies include the introduction of new products, partnerships, and acquisitions.
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