On-the-go Food Packaging Market to Register 6.8% CAGR; Dairy Products to Contribute Over 40% of Overall Sales

NEW YORK, March 2, 2022 /PRNewswire/ -- The global on-the-go food packaging market is projected to grow at a CAGR of 6.8% during the forecast period (2022-2032).

The overall sales in the on-the-go food packaging market are set to reach US$ 1,952 Mn by the end of 2022. Evolving lifestyles, changing purchasing habits, and consumer patterns are some of the factors likely to propel the demand for on-the-go food packaging solutions in the forthcoming years.

Rising focus of numerous packaging solution manufacturers on the development of new products equipped with advanced features, such as opening abilities, barrier structure, and others is another factor accelerating the sales. These features are anticipated to push the demand for convenient breakfast products with improved shelf life.

In June 2021, for instance, Hostess Brands, a prominent bakery company based in Kansas, launched a new line of breakfast items, including Hostess Baby Bundts, Pecan Spins, and Muff'n Stix. The company aims to provide consumers with conveniently-packaged and portable on-the-go snacks with this launch.

Likewise, in September 2021, Frito-Lay, a subsidiary of PepsiCo headquartered in Texas, unveiled an industrially compostable bag that is available for select retailers at the Whole Foods Market. The bag was specially developed by the company for its tasty snacks brand called 'Off The Eaten Path'.

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Hence, ongoing development of sustainable packaging solutions for on-the-go food items by key players is expected to augment the growth in the market. These companies are also set to create innovative designs of their packaging solutions to attract more consumers.

As per the study, the sales of on-the-go food packaging solutions are estimated to surpass US$ 3,760 Mn through 2032. Fast-paced lifestyle of the working population across the globe is a significant factor, estimated to augur well for the on-the-go food packaging market.

Besides this, high popularity of see-through or transparent packaging solutions that offer a glimpse of the content present inside, is set to fuel the growth in this market. Additionally, increasing development of customized snacks catering to the specific taste and food requirements of consumers is likely to spur the growth.

Key Takeaways:

• North America on-the-go food packaging market is set to exhibit growth at a CAGR of 6.4% by 2032.
• The U.S. is estimated to grow at a steady CAGR of 6.6% through 2022 & beyond owing to the emergence of novel designs in the country.
• By material, the polyethylene terephthalate segment is expected to generate 22.9% share in 2022.
• Based on food type, the dairy products segment is likely to account for 40% of the share in the upcoming years.
• In terms of packaging type, the pouches and sachets segment is anticipated to exceed US$ 1,271 Mn in 2032 with the increasing demand for dips, sauces, and condiments.

Growth Drivers:

• Re-usability, easy handling, portability, and convenience of latest on-the-go food packaging solutions are expected to drive the growth in the market.
• High demand for on-the-go healthy snacks to lower the risk of numerous lifestyle diseases, improve digestive health, and manage weight is set to propel the growth.
• Easy availability of organic, plant-based, and gluten-free food products owing to the popularity of the veganism trend is likely to bode well for the market.

Key Restraints:

• As compared to homemade food, cost per serving may be high in on-the-go food items, which is set to hamper the demand for packaging solutions.
• With the emergence of on-the-go snacks, people may miss out on certain calories and nutrients owing to reduced hunger, which can obstruct growth.

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Competition Landscape:

The global on-the-go food packaging market is highly fragmented with the presence of a large number of many regional and domestic key players. Most of these companies are consistently focusing on adopting numerous marketing strategies, including partnerships, capacity expansions, acquisitions, and joint ventures to generate more share and attract large consumer bases.

• January 2022: Faerch, a renowned food packaging supplier based in Denmark, added Evolve by Faerch to its pre-existing Plaza product line as an off the shelf offering. It would help food distributors to get access to a fully circular alternative to conventional clear PET packaging. Evolve bowls are specially designed to improve appeal and on-shelf presentation. These would positively impact buying decisions by communicating their sustainable nature to end-consumers.
• May 2020: SIG Combibloc Group AG, a leading provider of innovative solutions for aseptic packaging headquartered in Switzerland, launched its new on-the-go packaging solution that would allow producers and brands to develop healthy and more unique products and strengthen their positions in the market. Its packaging solutions contain fully recyclable and highly renewable cartons that would deliver a viable alternative to plastic packaging.

Key Companies

• Amcor Limited
• Mondi Group
• Sonoco Products Company
• Bemis Company Inc.
• Smurfit Kappa Group PLC
• Huhtamäki Oyj
• Sealed Air Corporation
• Georgia-Pacific LLC
• Berry Plastic Group, Inc.
• Constantia Flexibles Group GmbH

More Valuable Insights on On-the-go Food Packaging Market

Fact.MR, in its report, offers a market analysis on the global on-the-go food packaging market, providing compelling insights concerning major growth dynamics, including drivers, trends, and opportunities for the forthcoming decade. This survey reveals the growth of technology in the on-the-go food packaging market with detailed segmentation on the basis of:

By Material:

• Polyethylene Terephthalate
• High Density Polyethylene
• Polyvinyl Chloride
• Low Density Polyethylene
• Polypropylene
• Polystyrene
• Aluminum
• Others

By Packaging Type:

• Bottles & Jars
• Cans
• Trays
• Bags & Sacks
• Pouches & Sachets
• Others (Folding Cartons, etc.)

By Food Type:

• Fruits & Vegetables
• Bakery & Confectionary
• Meat & Seafood
• Dairy Products
• Other Applications

By Thermoforming:

• Die Cutting
• Injection Moulding

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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Key Questions Covered in the On-the-go Food Packaging Market Report

• What is the global on-the-go food packaging market worth in 2032?
• What is the demand outlook for on-the-go food packaging market during the forecast period?
• What was the last 5-year CAGR for the on-the-go food packaging market?
• Who are the prominent players in the global on-the-go food packaging market?
• Which is the most leading region in the on-the-go food packaging market?

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