NEW YORK, June 17, 2015 /PRNewswire/ -- Stick packaging is a type of flexible packaging. It is named after the shape it has: thin and long. Stick packaging is easy to handle, conveniently small, and suitable for on-the-go products. Industries such as food, pharmaceuticals, or manufacturers of single-dose products prefer using stick packs for their products.
The stick packaging market in the Asia-Pacific region is projected to grow at the highest CAGR from 2015 to 2020, in terms of volume. Japan is projected to occupy the major share of the market by 2020. The stick packs sector showed increased demand with key market drivers such as greater number of working women, aging population, and health-conscious consumers, leading to product personalization, product convenience, and product innovations. Moreover, increasing consumer demand for economical packaging has compelled the flexible packaging industry to increase its production and bridge the gap between demand and supply. This has, in turn, given an opportunity to the stick packaging market to secure its position in the packaging industry by meeting the rising demand for products.
The global stick packaging market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches, mergers & acquisitions, and partnerships & expansions are the key strategies adopted by market players to ensure their growth in the market. Companies such as Amcor Limited (Australia), Constantia Flexibles (Austria), Huhtamaki OYJ (Finland), Mondi Group (South Africa), and Sonoco Products Company (U.S.) are some of the prominent companies in the stick packaging market, comprising 73.60% of the total market share.
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