Global On The Go Packaging Market during the projected period, set to enjoy a valuation of US$ 1.9 Bn in 2022, and further expand at a CAGR of 4.8% to reach US$ 2.2 Bn by the year 2032.
The term “on the go packaging” refers to a variety of packaging materials used to package food items, including bottles, jars, cans, trays, clamshells, pouches, bags, boxes, and others. Due to the consumer preference for packaged and ready-to-eat foods and the time that is saved by not having to cook, young consumers who are working are driving a moderate but steady rise in the demand for on-the-go packaging.
Additionally, the availability of wholesome food products by the food brand increases favorability among health-conscious consumers, which fuels the desire for portable packaging. Single-serve packaging, for example, is a popular customisation offered by makers of on-the-go packaging since it reduces food waste.
The businesses are also embracing newer materials and concentrating on creating environmentally friendly and sustainable packaging with physical qualities that make them appropriate for various on-the-go package types. The market for on-the-go packaging is anticipated to grow more quickly overall throughout the forecast period.
An increase in On-The-Go Demand for the market has been fueled by Go Foods and proactive consumer lifestyles.
On the global market for on-the-go packaging, rising consumer preferences for processed meals are the key driving forces. The demand for portable, reusable, straightforward usage, and re-closable packaging is anticipated to increase globally. The demand for such packaging solutions is also rising as a result of the pharmaceutical business. The market for on-the-go packaging will be driven by the need for re-closable ability in pharmaceutical products such syrups, pills, and ointments. During the forecast period, it is expected that rising demand for dairy-based food items, other consumer goods, and health and hygiene products will drive the global market. Additionally, a growing emphasis on manufacturers making investments in the creation of novel packaging solutions encourages the market expansion of on-the-go packaging. To give one example, in January 2020 Nestlé said that it would invest up to USD 2.09 billion in the conversion of virgin plastics into recycled food-grade plastics and in the acceleration of the creation of creative sustainable packaging solutions. Various initiatives have recently been fueling the market’s expansion.
The Most Recent Drivers in the On-the-Go Packaging Market
The new trend in the market for on-the-go packaging is to customise items to fit a particular application rather than improving the product features as a whole. For the duration of the projected period, businesses should integrate digitally connected operations and concentrate on operational efficiency, supply source diversification, and cost management. Understanding and assessing the On-the-go Packaging Market environment is complicated by the uneven recovery in many end markets and regions.
Market Opportunities
Personalization – Due to the primary trend of personalization, the market for self-heating food packaging has grown significantly. The growing trend of personalisation, inventive, patented self-heating food packaging technologies, and the shift toward holistic products are some of the major factors anticipated to drive the global self-heating food packaging market during the forecast period.
Use of self-heating food packaging has a number of advantages. Self-heating food packaging is a highly useful solution for storing food and drinks. Customers may quickly and conveniently heat food and beverage products wherever they are with self-heating packaging. Fast-moving commuters can have meals and beverages while travelling while saving time and energy by using products in self-heating containers. It is projected that the advantages self-heating food packaging has over conventional packaging choices would increase consumer acceptance of the latter and encourage market growth for this kind of packaging.
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Global On The Go Packaging Market: Major Players
Berry Plastics
Bryce
Sealed Air
Pregis
Coveris
InterFlex
Printpack
Sonoco Products
Hood Packaging
Bemis
Amcor
Oracle Packaging
Global On The Go Packaging Market: By Types
Flexible Packaging
Paperboard Packaging
Global On The Go Packaging Market: By Applications
Food Beverage
Pharmaceuticals
Healthcare
Hygiene
Others
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