PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629258
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1629258
On-the-Go Food Packaging Market size was valued at USD 1,845.5 Million in 2023, expanding at a CAGR of 2.90% from 2024 to 2032.
On-the-go food packaging is a type of packaging that is made to be portable and convenient, making it simple for customers to carry and eat food when they are not at home. Features like resealability, spill-proof designs, and easy-to-open mechanisms are frequently found in this kind of packaging. Offering easy access to meals or snacks in a variety of contexts, such as while travelling, working, or commuting, it accommodates hectic lives. The focus of this package is on use, cleanliness, and functionality. Due to the rising consumption of dairy-based food products, the global market for on-the-go food packaging is anticipated to have increased demand in the near future. In the near future, it is anticipated that this additional possibility will motivate major market participants to focus on the dairy industry. Additionally, millennial customers' hectic schedules make breakfast on-the-go very appealing. These factors will boost the on-the-go food packaging market.
On-the-Go Food Packaging Market- Market Dynamics
Growing Urbanization and Hectic Lives
There is an increasing need for readily available, ready-to-eat meals as more people live in cities with hectic schedules. The creation of packaging that fits busy lifestyles-like single-serve, resealable, and spill-proof designs-is encouraged by this trend. Furthermore, urban areas frequently have dense populations, which increases the demand for quick food and takeout and fuels the market for on-the-go food packaging. The emphasis on practicality and convenience in the packaging business is in line with this expanding consumer preference. Additionally, food service providers want packaging that maintains food quality while making handling and transportation simple, as consumers seek even more quickly prepared meals. Demand for environmentally friendly, microwave-safe, and spill-proof packaging designs encourages innovation in packaging design.
On-the-Go Food Packaging Market- Key Insights
As per the analysis shared by our research analyst, the global On-the-Go Food Packaging Market is estimated to grow annually at a CAGR of around 2.90% over the forecast period (2024-2032)
Based on thermoforming segmentation, the injection moulding category was predicted to show maximum market share in the year 2023
Based on material segmentation, the polystyrene was the leading segment in 2023
Based on packaging type segmentation, cans were the leading segment in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global On-the-Go Food Packaging Market is segmented on the basis of Thermoforming, Material, Packaging Type, Food Type, and Region.
Based on material, the market is segregated into Polyvinyl Chloride, Aluminum, Polyethylene Terephthalate, Polystyrene, High Density Polyethylene, Low Density Polyethylene, Polypropylene, and Others. The Polystyrene category's growth in the On-the-Go Food Packaging Market is fueled by a special set of qualities that make it ideal for quick, throwaway food packaging solutions. Polystyrene is perfect for hot and cold food applications because of its lightweight, resilient, and insulating properties-qualities that are crucial in the on-the-go market. In particular, as urbanization and hectic lives drive customers to seek out quick, convenient meal options, the demand for ready-to-eat and takeaway food options has increased dramatically. Polystyrene's affordability also helps explain why food service firms favour it for packaging in order to preserve profit margins.
By packaging type, the market is divided into Cans, Bottles & Jars, Bags & Sacks, Trays, Pouches & Sachets, and Others. The need for portable and convenient food and drink options is driving considerable growth in the cans category of the on-the-go food packaging market. Cans provide durability, ease of handling, and an extended shelf life, making them the perfect option for on-the-go consumption in light of busy lifestyles and the growing popularity of ready-to-eat meals. Cans' recyclable nature further satisfies consumer desire for sustainable packaging options and rising environmental consciousness. Cans' appeal in this sector is also being increased by technological developments in can design and production, such as lightweight materials and resealable choices.
On-the-Go Food Packaging Market- Geographical Insights
Geographically, the On-the-Go Food Packaging Market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The Asia Pacific market for on-the-go food packaging is expanding quickly as a result of busy lifestyles, growing disposable incomes, and urbanization. Demand for creative packaging solutions is fueled by the region's developing food and beverage industry as well as consumers' increasing preference for convenience. Because of their sizable populations and changing customer preferences, nations like China, India, and Japan are at the forefront of the on-the-go food packaging market expansion. Growing meal delivery services and technology improvements further reinforce the market's potential.
In addition, the market for on-the-go food packaging in North America is fueled by a thriving food service sector, hectic lifestyles, and a strong desire for convenience. Packaging innovations, like environmentally friendly materials and cutting-edge features, are important trends. Strong consumer preferences for ready-to-eat and takeout meals, supported by the expansion of food delivery services, are advantageous to the market. Growth is also fueled by the increase in takeout and meal delivery services, which the COVID-19 pandemic has hastened. The area is also committed to combining packaging solutions with sustainability.
There is fierce competition among a number of major competitors in the on-the-go food packaging market as they try to meet the growing need for sustainable and convenient packaging options. Prominent firms, including Sonoco Products Company, Amcor Limited, Berry Plastic Group, Inc., Constantia Flexibles Group GmbH, Bemis Company Inc., and others, are concentrating on material and design improvements to improve the portability and convenience of their packaging goods. In order to satisfy consumer needs for environmentally friendly packaging, these companies are making more and more investments in recyclable and biodegradable materials. Additionally, a lot of businesses are using technology to make their products work better. For instance, Hershey's and Kellogg's India partnered in 2023 to introduce Hershey's Chocos, a breakfast cereal that blends the well-known chocolate brand with Kellogg's India's knowledge of nutritious breakfast options. Through this collaboration, a unique product that is enjoyable for children and nourishing for moms will be offered, delivering Hershey's experience with a nutrition commitment.
July 2024: With its recyclable "heat in pack, eat in pack" promotion, Coveris has introduced a novel new line of fibre-based hot-to-go packs that aim to satisfy consumers' increasing desire for hot foods while also cutting waste. One of the largest prospects for food-to-go is the hot-eat market, which is driven by consumer trends toward premiumization, experimentation, convenience, increased missions, and a larger desire for value.
April 2024: Amcor introduced a one-litre PET bottle for carbonated soft drinks (CSDs) that contains 100% post-consumer recycled (PCR) material. Customers will be assisted in their efforts to fulfil sustainability goals and standards by this unique stock option.