Baby Food Packaging Market Share
The global baby food packaging market has been receiving a lot of recognition lately due to the expansion of the packaging industry. Statistically, the CAGR and estimated market turnover figures confirm this fact. During the forecast span of 2020-2028, baby food packaging market will come across several growth prospects that will help in its progression.
It is estimated that the Baby Food Packaging Market Share will reach a CAGR of 12.84% within the forecast period of 2020-2028.
Some of the chief factors that fuel the growth of this market are the hike in the demand for convenience products and the need for food safety. Additional factors like rising health awareness, especially regarding food hygiene, convenience of use and reusability further drive the growth of this market.
Market Players Key Strategies
The worldwide market for baby food packaging is quite a competitive arena and the stakeholders of this market have to deal with cutthroat competition to survive here. Some of the brands that survived and have made a name for themselves are ITC Ltd Paperboards, Essel Propack Limited, Cascades Inc., and Hindustan National Glass Industries Ltd.
The players of this market employ certain growth strategies like strategic expansion, acquisition and alliance with other companies to garner the best results for their business.
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Market Segmentation
The worldwide market for baby food packaging has been segmented into four different parts. Each of these has sub-segments for itself respectively and they have been enlisted below:
By sealing handle – Heat seal, zipper top, spout top and patch handle.
By material type – Glass, polymer, metal and paper.
By raw material – Flexible packaging material, glass packaging material, rigid plastic packaging material, packaging paperboard material and metal packaging material. Flexible packaging material has an edge over the others and accounts for the largest share of the market. Rigid plastic packaging material holds the most dominant position after flexible packaging.
By Application – Powder milk, liquid milk, and dried baby food. Out of the three, the powder milk sub-class grabs the largest chunk of market share and the main reason for this is the easy availability and effectiveness of this product.
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In-depth Geographical Analysis
The baby food packaging market has established itself as a leader across the globe. It has very effectively expanded to some of the most important areas of the world like North America, Europe, Asia Pacific and Rest of the World.
The market in this region is expected to grow substantially during the forecast period at a promising CAGR. This region owes its growth to the increased demand for baby food products there.
Europe comes second in line after NA and accounts for the second largest portion of the market share. Asia Pacific is expected to attain considerable growth during the upcoming projection span. China will lead this region towards success and will rope in the maximum business. Higher awareness amongst the masses regarding the benefits of baby food products and higher need for convenience baby edible products tend to further help in the region’s progression.
Industry News
April 11, 2018 – The latest news for this industry has come in from America. A major market player called Little Roots just launched a brand new packaging solution. This product was devised to act as a healthy alternative to the conventional pouches that are being for baby food packaging. It has launched baby food bulbs that have proven to be far more effective than the conventional pouches. The industry experts believe that this product will gain popularity in a short span of time. And in future, this will garner benefits for the market.
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