
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”.
For critical information on this market, request more information
https://www.factmr.com/connectus/sample?flag=S&rep_id=476
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.
Report attributes |
Details |
Base year value (2021A) |
US$1,875 million |
Estimated annual value (2022E) |
US$1,952 million |
Projected year value (2032F) |
US$3,760 million |
World growth rate (2022-2032) |
CAGR 6.8% |
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.
For In-Depth Insights of Food Takeaway Packaging Market Request Methodology at
https://www.factmr.com/connectus/sample?flag=RM&rep_id=476
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
To stay “ahead” of your competitors, buy the report now!
https://www.factmr.com/checkout/476
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?
Explore Fact.MR’s Chemicals and Materials Coverage –
Foodservice Packaging Market Trends – Changing lifestyles have influenced eating habits, with ready-to-eat foods becoming increasingly popular. As a result, the demand for various types of foodservice packaging has increased, with an emphasis on convenient packaging that drives demand.
Liquid polybutadiene market growth – The increasing use of liquid polybutadiene for rubber manufacturing across the globe is expected to drive the market in the future. Also, the increasing use of this compound in tire manufacturing due to its beneficial properties such as high wear resistance is expected to bode well for the market.
Plastic Cans Market Forecast – Rising consumer spending on various products, such as laundry detergents, soaps, and shampoos across the globe, is expected to bode well for the plastic canister market. The ability of plastic cans to keep food and beverages safe for a longer period of time is another vital factor that is likely to propel their demand over the evaluation period.
Market Analysis of Natural Industrial Absorbents – A recent study by Fact.MR on the natural industrial absorbents market offers a detailed forecast. The study analyzes the crucial trends currently driving the growth of the Natural Industrial Absorbents market. This report focuses on key features, such as drivers, restraints, and opportunities for key market players along with key stakeholders.
About Fact.MR
Market research and consulting agency that makes the difference! That’s why 80% of Fortune 1000 companies trust us to make their most critical decisions. We have offices in the United States and Dublinwhile our global headquarters are located in dubai. While our experienced consultants use the latest technology to extract hard-to-find information, we believe our USP is the trust clients have in our expertise. Covering a wide range – from automotive and Industry 4.0 to healthcare, chemicals and materials, our coverage is extensive, but we ensure that even the most niche categories are analyzed. Contact us with your goals and we will be a competent research partner.
Access MarketNgage: Future Market Insights’ on-demand and subscription-based platform
www.marketngage.com
Enjoy a flexible market research subscription now through MarketNgage, the market research subscription platform of Future Market Insights and other iconic market research powerhouses. Go beyond reports and access multi-format research with downloadable executive summaries, chapters, data books, infographics, charts, an interactive manual for data visualization, and comprehensive reports across all major industries , more than 200 sub-sectors and more than 1200 niche markets, thanks to MarketNgage.
Register for a 7 day free trial!
Contact:
Mahendra Singh
USA sales office
11140 Rockville pike
Office 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: [email protected]
SOURCE Fact.MR