Proactive consumer lifestyles and increasing pace of food preparation methods has driven the demand for packaging on-the-go foods. As the demand for on-the-go foods continues to soar across multiple regions, consumers are demanding innovative packaging solutions. Leading players in the global packaging landscape are actively partaking in the global on-the-go food packaging marketto reap high profit margins and brimming demand. Fact.MR’s latest forecast study on the global on-the-go food packaging market estimates that the global demand for on-the-go food packaging will soar robustly during the assessment period, 2017-2026. By the end of 2026, the global on-the-go food packaging market is expected to register a valuation over one billion dollars. The report further observes that during the forecast period, the global market for on-the-go food packaging will register a volume CAGR of 5.8%.
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6 Key Pointers Highlighting Fact.MR’s Forecast on Global On-the-go Food Packaging Market
With respect to packaging materials, polyethylene terephthalate is expected to register highest consumption in the global on-the-go food packaging market. In 2017, more than 1,650 thousand tons of on-the-go food packaging products made of polyethylene terephthalate were sold globally. High density polyethylene and aluminum are also observed as key packaging materials, and are expected to register high volume CAGRs over the forecast period.
In 2017, over 500 thousand tons of on-the-go food packaging trays were sold in the global market. The report estimates a robust demand for trays as the key type of on-the-go food packaging. The report further reveals that rigid boxes will represent the leading packaging-type segment, and will register a volume CAGR of 6.3% over the forecast period.
By the end of forecast period, over 3,800 thousand tons of on-the-go food packaging products will be used for convenience food applications worldwide.
In 2018 and beyond, majority of on-the-go food packaging products will be developed with thermoforming fabrication.
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The report further reveals that the US and Canada are collectively the largest marketplace for on-the-go food packaging. High consumption of on-the-go foods in these countries will continue to drive the growth of North America in the global on-the-go food packaging market. By the end of 2026, North America’s on-the-go food packaging market is estimated to register sales of over 1,900 thousand tons.
The report also reveals that the Asia-Pacific excluding Japan (APEJ) region will be the key region for manufacturing on-the-go food packaging products. Over the forecast period, the APEJ on-the-go food packaging market is estimated to register a volume CAGR of 6.1%.
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The report has identified the key stakeholders of the global on-the-go food packaging market, which include 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., and Constantia Flexibles Group GmbH. These companies have been extensively profiled in the report. Their latest strategic developments and their current market positions have been disclosed. Majority of players in the global on-the-go food packaging market are expected to adopt innovative solutions in the near future. Smart packaging technologies are expected to influence the global on-the-go food packaging landscape to a considerable extent during the forecast period.
