With rising demand for ready-to-eat food products the demand for convenient packaging is also rising significantly. Regions with larger number of population are the expected to be the leading contributors in driving demand for packaged food products. Though there are different types of products available in the market, but with special focus on the stock clamshell packaging, its demand has resin significantly in the last couple of years. Asia Pacific is projected to hold a leading position in the global stock clamshell packaging market as per the Transparency Market Research analysis. Two regions in Asia Pacific, China and India where the population is high, packaging companies are emerging greatly in this region. Moreover, the low manufacturing cost has also made this region highly lucrative for the growth of stock clamshell packaging market.
Healthy 6.3% CAGR Growth Benefiting Stock Clamshell Packaging Market
Based on TMR’s report on the global stock clamshell packaging market, the market is expected to progress at a healthy CAGR of 6.3% over the projected period from 2017 to 2026. During this period, revenue generation is also expected to rise significantly, estimates states that revenue will cross ~ US$ 7.31 billion by the end of 2026. Such high revenue prospects waiting in the future with the rise of this market.
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Players Developing Eco-Friendly Products Diversifying Growth Prospects in Stock Clamshell Packaging Market
Players operating in the global stock clamshell packaging market are making efforts in developing environment friendly packaging products. Leading players are engaged in extensive research and development activities that will help in discovering new and innovative eco-friendly ways for packaging product. Players have also devised and made stock clamshell packaging cost-competitive due to its recycling efforts that help in reducing the overall cost of the product. Manufacturers are also making efforts towards sustainable packaging with the help of 100% Post-Consumer Recycled (PCR) materials. Moreover, use of stock clamshell is high in food packaging due to which various countries have introduced standards that ensure safety of products and material.
Keeping all these factors intact, players in the stock clamshell packaging market have huge opportunities for growth. Prominent players thoroughly analyzed in this report include Constantia Flexibles, VisiPak Inc., E.I. du Pont de Nemours and Company, Honeywell International, Sonoco Products Company, and Klockner Pentaplast Group.
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Rising Focus on Consumer Centric Products to Spur Growth in the Stock Clamshell Packaging Market
Market trends and the ways consumer are seen have changed in the last few years. Nowadays, consumers are seen with high importance and companies are making strategies keeping consumer at central areas. Mainly in the packaging sector concentration is more on consumer interest, therefore developments are taking place and products are being made keeping consumer at the center. As the use of stock clamshell packaging is not only limited to the food and beverages industry, its uses and significance is growing massively for example, now electronic devices and items are being shipped and sold in stock clamshell packaging. Moreover, manufacturers are also using different innovative ways to keeping in mind the environmental impact of packaging along with other developments. Thus, by combining all these factors the demand in the global stock clamshell packaging market is expected to growth significantly in the coming years.