The global on-the-go packaging market is anticipated to reach a value of US$ 1.9 billion in 2022 and grow at a CAGR of 4.8% to reach US$ 2.2 billion by the year 2032, according to data from Future Market Insights. By the end of 2022, the top 3 nations are expected to control 25–30% of the global on-the-go packaging industry, according to estimates of market revenues.
According to estimates, the most profitable packaging format category during the forecast period will continue to be pouches and bags. During the years 2022–2032, the target segment is anticipated to see a CAGR of 4.2%.
The on-the-go packaging market generated US$ 2.2 Bn in revenue in 2021, per FMI study. The top 5 businesses are anticipated to control roughly 15% to 20% of the global market for on-the-go packaging by the end of 2022, which would likely lead to an increase in demand for plastic on-the-go packaging.
During the projected period, it is anticipated that the on-the-go packaging market would expand favourably. According to a recent FMI forecast, the market for on-the-go packaging would expand between 2022 and 2032, providing a US$3.7 billion opportunity for expansion.
Sales of on-the-go packaging are anticipated to increase as a result of consumer preferences for packaged foods growing and changing lifestyles as a result of hectic work schedules.
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Competitive Landscape
The key players operating in the on the go packaging market are trying to focus on increasing their sales and revenues by expanding their resources and capabilities. The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new products to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand.
Key Companies Profiled
- Amcor plc
- Mondi Group
- Sonoco Products Company
- Berry Global Group
- Smurfit Kappa Group
- Sealed Air Corporation
- WestRock Company
- Gerogia-Pacific LLC
- Huhtamaki Oyj
- Tetra-Pak
- Constantia Flexibles Group GmbH
- Winpak Ltd.
Historic Market Outlook for On the Go Packaging
The global on the go packaging market experienced a growth rate of 4.3% during 2016-2021 and reached US$ 1.8 Bn in 2021.
The on the go packaging includes various packaging formats such as bottles & jars, cans, trays & clamshell, pouches & bags, boxes & cartons, and others that are used for packaging food items. The demand for on the go packaging is slowly increasing due to the consumer shift towards ready-to-eat and packaged food items as it saves cooking time which benefits the working young consumers.
Also, the availability of healthy and nutritious food products by the food brand gains popularity among health consumer consumers which propels the demand for on the go packaging. The customization by the on the go packaging manufacturers such as single-serve packaging gains traction among the consumer as it helps in reducing food waste.
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How does the Transition of Composite Cans as an Alternative to Metal Cans Drive the Demand for On the Go Packaging?
On the aisles of grocery stores, composite cans are a common packaging type. These are employed for both food and non-food end uses, allowing businesses to create distinctive packages to satisfy consumer preferences. They come in a wide range of sizes, barrier alternatives, and open ends that are simple to use.
Due to their eco-friendliness and affordability, composite cans are anticipated to replace metal cans. Particularly for dry and granular food goods, consumers strongly prefer composite cans. Composite cans are a perfect option for customers because of their minimal weight. In contrast to composite cans, metal cans are bulky and not biodegradable.
On the Go Packaging Market by Category
By Material, On the Go Packaging Market is Segmented as:
- Paper & Paperboard
- Plastic
- Metal
By Packaging Type, On the Go Packaging Market is Segmented as:
- Bottles & Jars
- Cans
- Trays & Clamshell
- Pouches & Bags
- Boxes & Cartons
- Others (Sachets, Stick Packs, etc.,)
By End-users, On the Go Packaging Market is Segmented as:
- Foodservice Outlets
- Institutional Foodservice
- Online Food Delivery
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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