Notwithstanding Concerns Regarding Plastic Usage, PET to Account for 1/3 of Stock Clamshell Packaging Solutions
Published On : Dec 28, 2020
Of nearly US$ 5 Bn worth global revenue estimated for the stock clamshell packaging landscape in 2020, around one-fourth is likely to be contributed by the market in North America, with the U.S. leading the way. Overall, the global market is expected to expand at a steady CAGR of over 5% during the forecast period of 2020 to 2030, due to high versatility of stock clamshell packaging and rising demand from various end-use industries such as stationery and food.
With stock clamshell packaging, products are protected well during transportation, as the packaging provides protection from airborne toxins, ensuring their purity and freshness. Moreover, high demand for convenience food, including ready-to-eat meals, is expected to boost the growth of stock clamshell packaging market over the coming years.
Key Takeaways from Global Stock Clamshell Packaging Market
- According to PMR research, stock clamshell packaging constitutes a better storage and packaging alternative over other plastic formats due to various attributes; it is cost-effective, customizable, appealing, and also considered as a preferred protective packaging among end users.
- North America's packaging sector is currently on a steady recovery, and has been witnessing strong demand from various industrial verticals in recent years.
- Inclination of consumers toward sustainable clamshell packaging and innovative packaging with varied features is one of the common trends in the stock clamshell packaging market across the globe. It is foreseen to be a remarkable factor placing manufacturers at an advantageous position.
- Based on material, PET stock clamshell packaging will continue its dominance over other material types.
- On the basis of product, the quad fold segment is identified to emerge highly attractive as compared to other two, i.e. trifold and others.
- According to end-use industry analysis, global stock clamshell packaging consumption remains the heaviest in the food industry (+28% in 2030) as compared to others such as consumer electronics & accessories, cosmetics & personal care, homecare, stationery, and others.
- The COVID-19 pandemic has adversely affected the progress of the global stock clamshell packaging market as a result of supply chain disruptions. However, as manufacturing activities get back to normal, and sales through e-Commerce rise, the market is gradually returning to its original growth trajectory.
“Being a cost-effective alternative over other plastic packaging formats, Stock clamshell packaging is widely used as it is tailored to visual and physical needs, which makes it easiest to sell. The food industry and cosmetics & personal care industry are prominently using stock clamshell packaging for an extensive range of packaging requirements,” says a senior market research analyst at FMI.
Transparent & Clear Labelling Packaging
According to research on packaging and consumer behavior in 2020, 38% of consumers are interested in purchasing a newly launched product with clear product information. People are now more mindful of what they're eating. While food packaging contains details on ingredients, it can be difficult to read fine printing. Companies are introducing transparent packaging and simple labelling to list the contents of their products. The trend of transparent and clear labelling packaging is driving the growth of the stock clamshell packaging market across the globe.
Stock Clamshell Packaging Market: Competitive Landscape
The global stock clamshell packaging market is moderately fragmented in nature. Tier-1 players are expected to hold around 30% of the global market share. In developed regions such as North America and Europe, tier-3 players hold a majority of the market share. Tier-1 players are focusing on strategic merger & acquisition activities to have a competitive advantage over other players. Primary strategy followed by market leaders is to enter into partnerships with local distributors to increase their sales footprints across the globe.
More Insights on Stock Clamshell Packaging Market Report
The global stock clamshell packaging market is analyzed on the basis of value (US$ Mn) and volume (Mn units), segmented into material, product type, end use, and region. The market is analyzed by various factors, which include global GDP outlook, global chemical outlook, global packaging market, industry value added, and impact of ongoing COVID-19 pandemic on the supply and demand side. The report also includes a competition analysis and market structure analysis.
For additional information on how the stock clamshell packaging market will shape up in the near future, write to the team of expert research analysts at firstname.lastname@example.org
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