On-the-go packaging: Key market research findings
- Increasing use of pouch packaging drives market growth
- Flexible plastic packaging accounts for a majority of the market’s revenue
- Key vendors – Bemis, Berry Plastics, Coveris, Printpack, Sealed Air, and Sigma Plastics
Technavio’s market research analysts predict the global market for on-the-go packaging to grow at a CAGR of almost 5% between 2016 and 2020. The growth of the market is fueled by the increased use of pouch packaging across the globe. Pouch packaging maintains safety and provides product freshness. They are also convenient to use because they are compact and lightweight. Pouch packaging provides scope for the creation of new designs and sizes and can be customized based on demand. During 2015, the global on-the-go packaging market was dominated by APAC with a market share of more than 31%. The high population growth and the steady rise in consumption of ready-to-eat food and beverages coupled with the resultant demand for flexible packaging including pouches will propel growth in the on-the-go packaging market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of on-the-go packaging segments based on the material type.
“The market is currently witnessing a rise in the demand for innovative lightweight materials. Vendors in the market are striving to meet this demand by providing high-performance, light-weight folding cartons, and containerboard grades because cost reduction, improving performance, and environmental concerns. Such products are eco-friendly, with a reduction of 10% in greenhouse gas emissions and 61% of water consumption,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
By 2020, the flexible plastic packaging segment will continue its dominance over the global on-the-go packaging market by accounting for around 37% of the overall market revenue. Flexible plastic packaging is made of raw materials such as BOPP, BOPET, PE, PVC, EVOH, and PA. The benefit of using flexible plastic packaging products can be attributed to their non-reactive nature and ease of transportation. These packaging products are used to pack baby food, bakery products, confectioneries, frozen foods, personal care products, and medical devices. The plastic pouches segment is anticipated to be the fastest-growing segment of the global flexible plastic packaging market.
The key vendors in the global on-the-go packaging market include Bemis, Berry Plastics, Coveris, Printpack, Sealed Air, and Sigma Plastics. Competition among vendors has intensified in terms of product price, design, product innovation, product line, and quality and service. In addition, many companies in the market are present in other packaging markets such as rigid and flexible packaging.
A more detailed analysis is available in the Technavio report, Global on-the-go Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
