Snack food Packaging Market Analysis

The expanding global retail industry, propelled by the widespread adoption of digital technologies and the prevalence of e-commerce platforms, is poised to exert a favorable impact on the demand for flexible plastic snack food packaging. The surge in retail activities, coupled with manufacturers venturing into direct-to-customer sales through e-retail websites, is a notable trend shaping the market dynamics.

Retailers, seeking to bolster their profit margins, often opt for bulk purchases from product manufacturers. The proliferation of retail chains and outlets, aimed at enhancing customer reach, is anticipated to contribute to the growth of flexible plastic snack food packaging over the forecast period. For instance, in March 2020, VkusVill, a Russian supermarket chain, unveiled plans to invest over 1.3 billion for the expansion of its stores into countries like the Netherlands and France. Industry participants are actively embracing novel strategies to fortify their presence in the retail sector. An illustrative example is Sephora, a cosmetic retailer, which, in February 2018, enhanced the customer purchasing experience by integrating augmented reality (AR) and artificial intelligence (AI). Sephora's commitment to innovation also manifested in the establishment of an innovation center in 2015, dedicated to product development and cutting-edge technologies, thereby elevating both in-store and online shopping experiences. This proactive approach to strategy implementation is poised to bolster the growth of the global flexible plastic snack food packaging market.

Strategic acquisitions of industry players are a common tactic employed by companies seeking a competitive edge and an expanded customer base. A case in point is Amazon's announcement in January 2018 regarding its plans to acquire Boxed, an e-commerce site specializing in bulk purchases. Such strategic moves are anticipated to amplify the demand for flexible plastic snack food packaging throughout the forecast period. Simultaneously, manufacturers and retailers are prioritizing the provision of diverse products with enhanced quality, fostering the increased adoption of flexible plastic packaging. Consequently, the burgeoning retail sector is anticipated to present lucrative growth prospects for players operating in the global flexible plastic snack food packaging market.