Dublin, March 31, 2021 (GLOBE NEWSWIRE) -- The "Stick Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The stick packaging market is expected to grow at a CAGR of 9% over the forecast period (2021-2026). Stick packs, a type of flexible pouch is perfect for single servings of gels or powders. Stick packs provide an ideal solution for the packaging of powdered drinks, snacks, pharmaceuticals, travel products, and many more.
The rising need for exact dosing and portion control is one of the prominent factors fueling the demand for the stick packs over the forecast period. This is propelling the players in the market to come up with product launches that enable them to cater to the rising need and boost the adoption.
In January 2020, Sanofi-aventis S.p.A. installed a new stick-pack line that is capable of producing 800 stick packs/min.
The pharmaceutical industry that deals with chemicals and compounds that are extremely reactive to the introduction of moisture, contamination, require packaging that prohibits the above from happening. As stick packaging offers excellent barrier properties, uniformity in usage, and self-explanatory dosages, these are suitable for pharmaceutical industries.
In October 2018 - Pylote announced that it had entered into a partnership with Amcor to launch stick pack laminates for liquid pharmaceuticals that combine a high barrier with antimicrobial preservation properties and can be processed on standard stick-pack filler.
As the stick packs are produced on dedicated machines, the production rates are high, sizes are small, and the per-item costs are low. Also, as compared to the regular portion packets, stick packs typically utilize much less material and packaging content that makes them environmentally friendly and less wasteful. According to Glenroy, packaging format in stick packaging requires 10% to 40% less flexible packaging material than equivalent rectangular pouches. This is expected to boost the stick packages adoption over the forecast period.
Key Market Trends
The Food Industry is Expected to Hold the Largest Share
Stick packaging is used for products such as ready-portioned spice mixes, single-serve beverages including coffee, tea, sugar, milk, drink mixes, and many more owing to its ability to keep the products fresh, thereby providing a longer shelf life.
In August 2018, Celsius Holdings, Inc.announced the launch of two new flavors to the brand's SKU lineup, both packaged in convenient on-the-go powdered sticks. The two new flavors combine the clinically proven, functional CELSIUS formula, that bolsters the company's stick pack offering.
The rising trend for instant healthy food and beverage options such as drink mixes for bottled water provides great convenience as they are easy to transport due to their low weight and small size, can be consumed anywhere, and are easy to open. Owing to this, consumers are increasingly turning towards products packaged in stick packs.
North America is expected to Hold the Largest Share
The growing working population in the region, coupled with their busy lifestyles, has given rise to the need for on-the-go consumable products as it allows the people with travel accessibility and ease of consumption. This is expected to drive the adoption of stick packs in the region. According to the International Monetary Fund, the employment in the united states is expected to grow from 139.08 million people in 2010 to 158.3 million people in 2020.
In December 2019, ROAR Beverage Company launched its Electrolyte Powder Sticks, a three-SKU line of single-serving mix packets.
In October 2019, Drink Nutrient, a United States-based start-up, launched a range of nutritional drinks in its home market. The offerings include Liquid Nutrient, Vitamin Booster+, and Vitamin Coffee in stick packs.
The market in the region is also witnessing strategic expansions, thereby offering lucrative opportunities to the companies to increase their production capacities and, in turn, fuel the market growth. For instance, in February 2019, Cascata Packaging, to triple its tear-top pouch operation and launch its proprietary hot-fill, lap-seal, vertical stick pack filling line announced the completion of its multi-million-dollar plant expansion.
Also, the players in the market are entering the region with the launch of new products. This is expected to drive the demand for stick packs in the region over the forecast period. In October 2019, Swisse Wellness entered the region with the launch of a new line of 'jelly' dietary supplements packaged in a stick pack.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Ease of Handling
4.2.2 Rising Trend of on-the-go Consumption
4.2.3 Rising Demand for Reduced Material Consumption while Manufacturing of Stick Packs
4.3 Market Restraints
4.3.1 Increasing Bans on Single Use Plastics
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By End-user Industries
5.1.4 Other End-user Industries
5.2.1 North America
5.2.4 Latin America
5.2.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amcor PLC
6.1.2 Constantia Flexibles
6.1.3 Glenroy, Inc.
6.1.4 Aristo Pharma GmbH
6.1.5 Fres-Co System Inc
6.1.6 UDG Healthcare plc.
6.1.7 Winpak Ltd
6.1.8 Sonoco Products Company
6.1.9 GreenSeed Contract Packaging
6.1.10 Sonic Packaging Industries
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/pwa40z
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