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.
The pouches & bags segment by packaging format is estimated to remain the lucrative segment among the other packaging format during the forecast period. The target segment is expected to register a CAGR of 4.2% during 2022-2032.
According to FMI analysis, the on the go packaging market revenue reached US$ 2.2 Bn for the year 2021. The demand for plastic on the go packaging is estimated to boost with the top 5 companies projected to hold around 15-20% of the global on the go packaging market by the end of 2022.
The on the go packaging market is anticipated to witness positive growth during the forecast period. A new forecast by FMI estimates that the on the go packaging sales will rise during 2022-2032 and is anticipated to create a growth opportunity of US$ 3.7 Bn.
The changing lifestyle and increasing consumer preference for packaged food due to busy working schedules is projected to augment the sales of on the go packaging. The on the go packaging market is estimated to grow 1.2 times the current market value during 2022-32.
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.
Furthermore, the companies are adopting newer materials and are focusing on developing eco-friendly and sustainable packaging with physical properties which make them suitable for different on the go packaging formats. Overall, the on the go packaging market is projected to rise at a faster pace during the forecast period
On the Go Packaging Market by Category
By Material, On the Go Packaging Market is Segmented as:
- Paper & Paperboard
By Packaging Type, On the Go Packaging Market is Segmented as:
- Bottles & Jars
- 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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