The on-the-go packaging market is poised to achieve a valuation of US$ 1.9 billion in 2022, with a projected expansion at a Compound Annual Growth Rate (CAGR) of 4.8%, reaching US$ 2.2 billion by the year 2032. Projected revenue growth in the on-the-go packaging market is expected to be significant, with the top three countries estimated to collectively hold 25-30% of the global market share by the conclusion of 2022.
Approximately 80% of the North American on the go packaging market is expected to be dominated by the United States, driven by the rising snack consumption trends within the country.
Around 80% of the North American on-the-go packaging market is estimated to be held by the U.S., a dominance attributed to the rising snack consumption in the country.
Data from the Institute of Food Technologists (IFT) reveals that, on average, adults in the U.S. consume 2.7 snacks per day, with younger adults indulging in five or more snacks daily, contributing to the anticipated increase in packaging sales in the U.S.
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Key Features of On The Go Packaging Industry
- Portability: On the go packaging is designed to be compact, allowing consumers to carry products easily while commuting, traveling, or during outdoor activities.
- Resealability: Many packaging solutions are equipped with resealable features, ensuring product freshness and minimizing waste.
- Customization: Brands can tailor packaging to align with their identity, enhancing recognition and creating a unique consumer experience.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of On The Go Packaging market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global On The Go Packaging market. Some of the key players of global On The Go Packaging market are
- Berry Global Group
- Smurfit Kappa Group
- Sealed Air Corporation
- WestRock Company
- Gerogia-Pacific LLC
- Huhtamaki Oyj
- Tetra-Pak
- others
Key On The Go Packaging Market Takeaways and Projections
- The U.S. is expected to lead the North America On The Go Packaging market, projecting the fastest growth in the region between 2022-2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
Exploring Key Trends in On The Go Packaging Industry
The On The Go Packaging Market is dynamic and constantly evolving to meet changing consumer preferences and technological advancements. Several trends are shaping the industry’s trajectory:
1. Sustainable Materials and Eco-Friendly Practices
Consumers are increasingly conscious of their environmental footprint. As a result, there’s a growing demand for On The Go packaging made from sustainable materials such as bioplastics, recyclable plastics, and compostable materials. Manufacturers are adopting eco-friendly practices to align with consumers’ values and contribute to a greener future.
2. Innovative Re-Sealable Packaging
Re-sealable packaging has gained popularity due to its convenience and ability to preserve product freshness. From zip-lock closures to adhesive strips, this trend ensures that consumers can easily access their products and reseal them for later use.
3. Portion Control and Single-Serve Packaging
The On The Go Packaging Market caters to consumers’ desire for portion-controlled and single-serve options. This trend is particularly evident in the food and beverage industry, where individual servings minimize waste and offer convenience for consumers on the move.
Report Benefits & Key Questions Answered
- On The Go Packaging Historical Market Analysis: The detailed survey by FMI, examines key factors in the On The Go Packaging market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the On The Go Packaging market for the forecast period 2022-2032.
- On The Go Packaging Category & Segment Level Analysis: The category & segment level analysis conducted by FMI studies the market in terms of segments. It studies the vital dynamics across each segment and also highlights their growth prospects in the coming ten years.
- On The Go Packaging Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for On The Go Packaging for the assessment period. As per the study, the demand for On The Go Packaging will grow at a robust CAGR between 2022-2032.
- On The Go Packaging Company & Brand Share Analysis: A recent study by FMI highlights a comprehensive list of leading market players and stakeholders in the global On The Go Packaging market. It examines the business execution, cost structure analysis, and supply chain analysis, of Tier 1, Tier 2, and Tier 3 players for the forthcoming decade.
- On The Go Packaging Market Trend Analysis: The latest study by FMI on the On The Go Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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On The Go Packaging Market: Market Segmentation
By Material
- Paper & Paperboard
- Plastic
- Metal
By Packaging Type
- Bottles & Jars
- Cans
- Trays & Clamshell
- Pouches & Bags
- Boxes & Cartons
- Others (Sachets, Stick Packs, etc.,)
By End-users
- Foodservice Outlets
- Institutional Foodservice
- Online Food Delivery
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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