PUBLISHER: IMARC Services Private Limited | PRODUCT CODE: 1145785
PUBLISHER: IMARC Services Private Limited | PRODUCT CODE: 1145785
The global stick packaging market size reached US$ 1.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2027, exhibiting a growth rate (CAGR) of 6.68% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Stick packaging refers to tube-shaped, sealed and flexible packaging containers used to store dry, liquid, and semi-liquid products in small quantities. It is commonly used as a single-serve, on-the-go and easy-to-handle packaging solution and is manufactured using paperboard, polyethylene, polyester, polypropylene, aluminum foil or plastic. In comparison to traditional packaging materials, stick packaging solutions are more cost-effective, sustainable, convenient and have a lower carbon footprint. They are also more effective than larger storage packs as the contents are less prone to spoilage due to moisture, contamination and wastage. As a result, sticks packaging finds extensive applications across various industries, including pharmaceutical, nutraceutical, food and beverage, and consumer goods.
Significant growth in the food and beverage industry is one of the key factors creating a positive outlook for the market. Furthermore, the increasing demand for flexible packaging is spurring the market growth. In line with this, there is a shift in the preference from rigid to flexible stick packaging as it more cost-effective, aesthetically appealing, customizable, durable and easily transportable, which is creating a positive outlook for the market. Additionally, various product innovations, such as the development of environment-friendly stick packaging, are acting as other growth-inducing factors. Product manufacturers are also developing variants with multi-laminated films that are resistant to moisture and oxygen to extend the shelf-life of the contents. Other factors, including rapid urbanization and rising disposable incomes of consumers, along with the increasing demand for single-serve packaging to store pharmaceutical and nutraceutical products, are expected to drive the market further.