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(Transportation-News.com, November 30, 2017 ) The Global Stick Packaging market is valued at $229.2 million in 2014 with a CAGR of 5.5% it is expected to reach $353.1 million by 2022. Ease of handling, increasing disposable incomes in developing nations, cost-effectiveness, technological innovations, and government regulations are some of the key market drivers. Most importantly, the changing preference of consumers from rigid to flexible packaging has given a boost to the stick packaging market. The decrease in sugar consumption is the factor that is hindering the market growth. The opportunity for market expansion lies in the favorable growth of pharmaceutical industry. The challenges faced by the market forces to improve the filling speed and fluctuations in prices of materials.
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Global Stick Packaging market is mainly segmented by material, by application and by geography. Based on Material, the market is segregated into paper, metalized polyester, polyester, biaxial oriented polypropylene, aluminium, and polyethylene. Based on application, the market is categorized into consumer goods, food & beverages, nutraceuticals, and pharmaceuticals. Stick Packaging market, by geography is segmented into North America, Europe, Asia Pacific and Rest of the World. The Asia-Pacific region is projected to become the fastest-growing market. The demand for stick packs is proposed to rise in developing countries such as China, Brazil, India and Thailand.
The key players in the Stick Packaging market include, Bosch Packaging Technology, Huhtamaki OYJ, Oystar Group, Mondi Group, Amcor Limited, UDG Healthcare PLC, Constantia Flexibles, Fres-Co System Inc., and Sonoco Products Company.
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