Rolling up to a Taco Bell at two in the morning, you and your friends’ appetites hunger for Mexi-American fast food. You order a panel of goods and drive to where the grub is awaiting halfway out the window. You pay, you swap orders with each other, and you ask for extra – stick packaged – hot sauce. You do not realize it, but you have just influenced the flexible packaging market.
Stick packaging has greatly evolved within since its introduction to America. It was perceived as messy and aesthetically inferior, but as the public’s perception of stick packaging changed into a convenience oriented mindset, flexible packaging welcomed the adaptation with open arms. It was as if a blank canvas was rolled before a market of packaging engineers. Stick packaging, in its early phases of existence, was reserved for food and other condiments, such as salt, pepper and sugar; and its congruent expansion into various industries sought a rising market. Advertising was given a new task at hand: unit-dose products conveniently wrapped in appealing packaging.
According to ReportLinker (reportlinker.com), the Global Stick Packaging market was valued at $229.2 million in 2014 with a CAGR (compound annual growth rate) of 5.5 percent, and is expected to reach $353.1 million by 2022. With such a global interest in stick packaging, companies continue to shape the 21st century with updated and innovated equipment, providing flexible packaging market advantages. Although the food industry has centered the stick pack revolution on convenient snacks, the opportunity for market expansion lies in the favorable growth of the pharmaceutical industry. The pharmaceutical industry has an unlimited capacity for growth expansion through flexible packaging, especially stick packaging. Medications of all sorts can be packaged with increasingly convenient and less expensive material – paper, metalized polyester, polyester, aluminum and polyethylene – thus storing and categorizing medications with less effort and more shelf space.
Along the timeline of growth and change dedicated to flexible packaging, the Asia-Pacific region has jumped into relevance with the fastest growing market. The development of their countries and economies has fattened wallets, and they are hungry for the capitalism-fueled convenience provided by the stick packaging revolution. This has created a venue, therefore, for a growing market of consumer goods, food & beverages, nutraceuticals and pharmaceuticals.
Check out the complete market study on stick packs at ReportLinker.