Market Trends of Stick Packaging Industry
This section covers the major market trends shaping the Stick Packaging Market according to our research experts:
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.
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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.
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