On-the-go food packaging market will register a CAGR of 6.8%; Dairy products will contribute over 40% of overall sales

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

Global takeaway food packaging market sales are expected to reach US$1,952 million by the end of 2022. Changing lifestyles, shifting shopping patterns and consumption patterns are some of the factors that are likely to propel the demand for takeaway food packaging solutions in the years to come.

Another factor accelerating sales is the growing focus of many packaging solution manufacturers on developing new products with advanced features, such as opening capabilities, barrier structure and others. These features are expected to drive demand for convenient breakfast products with improved shelf life.

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

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

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Therefore, the continuous development of sustainable packaging solutions for takeaway food products by key players is expected to augment the market growth. These companies are also ready to create innovative designs of their packaging solutions to attract more consumers.

According to the study, sales of on-the-go food packaging solutions are expected to exceed US$3,760 million until 2032. The fast pace of life of the working population across the globe is an important factor, which bodes well for the on-the-go food packaging market.

Also, the high popularity of see-through or see-through packaging solutions that provide a glimpse of the contents present inside is expected to fuel the growth of this market. In addition, the increasing development of personalized snacks to meet consumers’ specific tastes and dietary requirements is expected to drive growth.

Key points to remember:

• North America The takeaway food packaging market is expected to grow at a CAGR of 6.4% by 2032.
• The United States is estimated to experience steady growth of 6.6% through 2022 and beyond due to the emergence of new models in the country.
• By material, the polyethylene terephthalate segment is expected to generate 22.9% market share in 2022.
• Depending on the type of food, the dairy segment is expected to account for 40% of the share in the coming years.
• In terms of packaging type, the pouches and sachets segment is expected to exceed US$1,271 million in 2032 with the growing demand for dips, sauces and condiments.

Growth drivers:

• Reusability, easy handling, portability and convenience of the latest on-the-go food packaging solutions are expected to drive the market growth.
• Strong demand for healthy on-the-go snacks to reduce the risk of many lifestyle diseases, improve digestive health and manage weight is expected to propel growth.
• The easy availability of organic, plant-based and gluten-free food products due to the popularity of the vegan trend bodes well for the market.

Key constraints:

• Compared to home-cooked foods, the cost per serving can be high in take-out foods, which is expected to hamper demand for packaging solutions.
• With the emergence of on-the-go snacks, people can miss out on certain calories and nutrients due to reduced hunger, which can hinder growth.

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Competition Landscape:

The global takeaway food packaging market is highly fragmented with the presence of a large number of regional and national key players. Most of these companies constantly focus on adopting numerous marketing strategies including partnerships, capacity expansions, acquisitions, and joint ventures to generate more market share and attract broad consumer bases.

• January 2022: Faerch, a renowned supplier of food packaging based in Denmark, has added Evolve by Faerch to its pre-existing Plaza product line as a standard offering. This would help food retailers gain access to a fully circular alternative to conventional transparent PET packaging. Evolve bowls are specially designed to enhance shelf appeal and presentation. These would have a positive impact on purchasing 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 healthier and more unique products and strengthen their market positions. Its packaging solutions contain fully recyclable and highly renewable paperboard that would offer a viable alternative to plastic packaging.

Key companies

• Amcor Limited
• Mondi Group
• Sonoco Product Company
• Bemis Company Inc.
• Smurfit Kappa Group PLC
• Huhtamaki Oyj
• Airline Sealed
• Georgia-Pacific LLC
• Berry Plastic Group, Inc.
• Constantia Flexibles Group GmbH

More Valuable Insights into the On-the-Go Food Packaging Market

Fact.MR in its report offers market analysis on the global On-the-Go Food Packaging Market, providing compelling insights on key growth dynamics including drivers, trends, and opportunities for the next 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 type of packaging:

• Bottles and jars
• Cans
• Trays
• Bags & Bags
• Pouches & Bags
• Others (folding cartons, etc.)

By type of food:

• Fruits and vegetables
• Bakery & Confectionery
• Meat & Seafood
• Dairy products
• Other Apps

By thermoforming:

• Cutting
• Injection molding

By region:

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

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Key Questions Answered in the Takeaway Food Packaging Market Report

• What is the global nomadic food packaging market worth in 2032?
• What is the demand outlook for the on-the-go food packaging market during the forecast period?
• What has been the past 5 year CAGR for the on-the-go food packaging market?
• Who are the key players in the global On-the-Go Food Packaging Market?
• Which is the most advanced region in the takeaway food packaging market?

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