Future Market Insights research indicates that the global on-the-go packaging market is poised for a valuation of US$ 1.9 billion in 2022, with a projected expansion at a Compound Annual Growth Rate (CAGR) of 4.8%. This growth trajectory is anticipated to propel the market to reach US$ 2.2 billion by the year 2032. The findings underscore the market’s resilience and its ability to cater to the evolving needs of consumers seeking convenient and portable packaging solutions across various industries. The consistent CAGR signifies a sustained demand for on-the-go packaging, reflecting its integral role in modern lifestyles.
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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Market Drivers:
- Changing Lifestyles:
- The fast-paced lifestyles of consumers often lead to a demand for convenient, portable packaging solutions that fit their on-the-go needs.
- Increasing Urbanization:
- The rise in urbanization is associated with a higher number of people living in urban areas, where there’s a greater demand for quick and easy food and beverage solutions.
- Rise of E-commerce:
- The growth of online shopping and food delivery services has increased the demand for packaging solutions that ensure the safety and convenience of products during transportation.
- Health and Wellness Trends:
- Consumers are increasingly looking for healthier on-the-go snack and meal options, driving the need for packaging that preserves freshness and nutritional value.
- Environmental Concerns:
- The shift towards sustainable and eco-friendly packaging materials and practices is driving innovations in on-the-go packaging to reduce environmental impact.
- Innovation in Packaging Technology:
- Advancements in packaging technology, such as resealable and portion-controlled packaging, contribute to the convenience factor for on-the-go consumers.
Market Restraints:
- Environmental Impact:
- Despite efforts to adopt eco-friendly practices, the on-the-go packaging market may face challenges related to the environmental impact of single-use packaging materials.
- Regulatory Compliance:
- Stringent regulations and standards regarding packaging materials and waste disposal can pose challenges for companies in the on-the-go packaging market.
- Cost Concerns:
- Developing and implementing sustainable packaging solutions can sometimes be more expensive, potentially impacting the overall cost structure for businesses.
- Consumer Awareness:
- Lack of awareness among consumers about the importance of sustainable packaging may slow down the adoption of eco-friendly on-the-go packaging options.
- Supply Chain Disruptions:
- Events such as the COVID-19 pandemic or other disruptions in the supply chain can impact the availability of raw materials and production processes, affecting the on-the-go packaging market.
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.
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Key Segmentations:
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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