Consumer needs and desires have constantly been shifting from one to another. Growing popularity about portable and affordable products have increased the demand for smaller pack sizes and sustainable packaging as they have become some of the essential purchasing aspects. Additionally, increased demand for ready to eat foods and processed foods has fuelled the global sachet and stick packaging machines market.
By amalgamation of unique characteristics into their products, brand owners create instant recognition and authority inside their niches, leading to higher sales as visibility and credibility. This is done by differentiation in packaging.
Global sachet and stick packaging machine market has been segmented into four regions: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East & Africa).
North America is likely to observe considerable growth in this market. Increase in consumption of fast food and packaged food has been one of the primary factors in growth of this market. Additionally, owing to rising demands for stick packaging and in a bid to increase the market reach key regional players have started embracing various growth plans such as acquisition, expansion, and new product development, among others. For instance, in November 2016, Sonoco, one of the largest diversified global packaging companies, acquired Plastic Packaging Inc. (PPI), a privately held Hickory, N.C.- under flexible packaging company. This acquisition has assisted Sonoco to widen its product offering and expand the business specifically in the southeast U.S.
Asia Pacific is expected to grow rapidly at the highest CAGR. Changing dynamics of the packaging industry, a growing number of end-use sectors including food, pharmaceutical, and cosmetics, and increasing demand for packaged food items are assistance the regional market. Additionally, companies which sell packaged products are investing more in creative packaging of their products in order to increase their saleability and product recall.
Europe is expected to grow at a significant rate during the forecast period. This is owed to factors such as major players in the European region contributing notably in terms of manufacture of sophisticated and highly advanced packaging machinery.
Latin America, Middle East & Africa region is expected to witness healthy growth owing to rising income and rapidly developing retail systems are fuelling the consumption of packaged foods and beverages. Moreover, expanding manufacturing sector and rising government initiatives are encouraging the packaging industry in the African region.
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The global sachet and stick packaging machines market is segmented into type, technology and application.
Based on type, the market is segmented into sachet packaging and stick pack packaging. Sachet packaging is expected to grow significantly based on the larger surface area it provides. Additionally, market players are focusing on utilizing advanced techniques to develop innovative packaging systems and overcome various environmental concerns
On the basis of technology, the market is classified into vertical packaging solution and horizontal packaging solution. vertical packaging solutions are expected to grow at the highest CAGR as it offers reliable and efficient output even at high packaging speed
Based on application, the market is sub-segmented into pharmaceuticals, personal care & cosmetics, food, and others. Food & beverage segment is the major consumer of the sachet and stick packaging machines and is expected to continue the same over the forecast period 2019–2026. Pharmaceuticals industry is another significant contributor in this market.
Sachet and Stick Packaging Machine Market Segmentation:
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