Future Market Insights research forecasts a promising outlook for the global on-the-go packaging market, anticipating a valuation of US$ 1.9 billion in 2022. The market is poised for sustained growth, with a projected Compound Annual Growth Rate (CAGR) of 4.8%, aiming to attain a robust US$ 2.2 billion by the year 2032. This trajectory signifies the increasing demand for convenient and portable packaging solutions, reflecting evolving consumer lifestyles and preferences. As the market continues to innovate to meet these dynamic needs, the on-the-go packaging sector is expected to play a pivotal role in shaping the future of packaging solutions worldwide.
Incorporating diverse packaging formats like bottles & jars, cans, trays & clamshells, pouches & bags, boxes & cartons, and others, on-the-go packaging caters to the evolving needs of packaging food items. The rising demand for on-the-go packaging reflects a consumer trend toward ready-to-eat and packaged food items, driven by the convenience it offers in saving cooking time, especially appealing to the working young demographic. As lifestyles become increasingly fast-paced, the versatility and efficiency of on-the-go packaging solutions align with the preferences of consumers seeking convenient and time-saving options in their food choices.
With an estimated share of approximately 4/5 in the North American on-the-go packaging market, the U.S. asserts its dominance, driven significantly by the surging consumption of snacks. Data from the Institute of Food Technologists (IFT) reveals that, on average, U.S. adults consume 2.7 snacks daily, with younger adults indulging in five or more snacks per day. This robust snacking culture is anticipated to propel the demand for packaging solutions in the U.S., as consumers increasingly opt for convenient, portable formats that align with their on-the-go lifestyles, fostering a substantial market share for on-the-go packaging in the North American region.
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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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