The global on-the-go breakfast packaging market is expected to be a host to an intensely competitive business landscape, reports Transparency Market Research (TMR). Featuring high fragmentation, the global on-the-go breakfast packaging market comprises a large pool of both small- and medium-sized vendors. Established vendors are seen expanding their product portfolios in order to keep their presence dominant in the market.
Prominent vendors in the global on-the-go breakfast packaging market are Bemis Co. Inc., Amcor Limited, Tetra Pak International S.A, Sealed Air Corporation, and Coveris Holdings S.A.
According to TMR’s projections, the global on-the-go breakfast packaging market is expected to rise at a healthy 5.1% CAGR over the forecast period from 2017 to 2025. At this rate, the market value deemed worth US$743 mn in 2016 is likely to reach US$1.1 bn by the end of the forecast period.
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Changing Lifestyles Provide Impetus to On-the-Go Breakfast Packaging Market
Rapid changes in consumer life and busy day-to-day routines have led to increased demand for a solution for on – the-go packaging. Thanks to a hectic lifestyle, the growing number of homes and the number of working women worldwide, people have restricted time to prepare food. Thus with the increasing implementation of on-go packaging, the food and drink industry has acquired much benefit.
Flexible Packaging to Emerge as Key Market Trend
Combining plastic, film, paper, and aluminum foil; flexible packaging offers a wide range of safeguards while at the same time minimizing materials and costs. Due to these benefits, it is still one of the world’s fastest-growing breakfast packaging sectors. Because of the comfort associated with low weight packaging, flexible packaging is the dominant segment in the global on-the-go breakfast packaging market. In the foreseeable future it is expected to remain at the forefront.
As flexible packaging gains popularity in the food industry, it is expected to be regarded as the prime choice for on – the-go breakfast packaging both domestically and globally. In the worldwide on-the-go breakfast packaging industry in the next few years, a huge preference for flexible packaging from providers and customers will prove to be a lucrative opportunity.