Growing Adoption of Ready-to-Cook Meals to Drive the Global On-the-Go Packaging Market Until 2020, Says Technavio

LONDON–(BUSINESS WIRE)–$BERY #Logistics–According to the latest market study released by Technavio,
the global
on-the-go packaging market
is expected to grow at a CAGR
of 4.67% during the forecast period.

This research report titled ‘Global
On-the-go Packaging Market 2016-2020
’ provides an in-depth
analysis of the market in terms of revenue and emerging market trends.
This market research report also includes up to date analysis and
forecasts for various market segments and all geographical regions.

Over the last few years, there has been a rise in the number of
hypermarkets and megamarkets in urban areas. Following the growing need
for convenience, consumers are increasingly opting for packaged food
products, which is leading to the growth of the on-the-go packaging
market. The arrangement of products in attractive packages in retail
stores offers consumers a variety of options.

Sharan Raj, a lead analyst at Technavio for research on packaging,
says, “Busy lifestyles of people are leading them to adopt ready-to-cook
meals, thus many of the innovation in the market is centered on the food
industry, providing convenience for on-the-go consumption. To cater to
the growing demand, vendors are developing packaging solutions that
monitor freshness, improve safety and convenience, and extend product
shelf life. Bemis, one of the top on-the-go packaging vendors,
manufacture products that are sold mainly to customers from the food
industry.”

Request sample report: http://goo.gl/Kj0RxQ

Based on material type, the report categorizes the global on-the-go
packaging market into three major segments:

By material type     (% revenue 2015)
Flexible plastic packaging     36.34%
Paper and paperboard packaging     32.83%
Other packaging products     30.83%

Source: Technavio

Global flexible plastic packaging market

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 is due to their non-reactive nature and ease of transportation
(as they are lightweight). 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 predicted to be the fastest-growing
segment of the global flexible plastic packaging market. Pouches perform
the same function as bags, but they are much smaller in dimension and
are more compact. They include plastic sachets for personal care
products and flat and stand-up
retort pouches
for food and beverage packaging,” says Sharan.

Global paper and paperboard packaging market

The global paper and paperboard packaging market was valued at USD 52.96
billion in 2015 and will reach USD 67.16 billion by 2020, growing at a
CAGR of 4.86%.

In 2015, the global paper and paperboard container and packaging market
was the largest contributor to the global container and packaging
market, accounting for a share of more than 30%. Corrugated
boxes and containers
are experiencing the highest sales in the
global paper and paperboard container and packaging market. An increase
in the demand for paperboard packaging from end-users such as the food
and beverage, pharmaceuticals, electronics, and e-commerce industries is
driving the global corrugated container and packaging market. These
products can be easily recycled and are preferred for packaging the
products during transportation.

Global other packaging products market

The global other packaging products market includes semi-rigid packaging
products like cups, cans, and tubs. The market is expected to grow at a
moderate rate during the forecast period. The drinking cups segment
dominates the global other packaging products market as most of the
restaurants, coffee shops, and other food chains use drinking cups to
serve juices, coffee, and other beverages.

The main reasons for the use of in cups, cans, and tubs in packaging of
consumer products is that they are lightweight, highly durable, and can
be reused. They are also increasingly used in retail packaging because
of developments in design innovation. The growing requirement for
improved graphics on packaging products will propel the use of paperboard
packaging
market as it offers sufficient space to provide
detailed information about products and adds extra graphics.

The top vendors highlighted by Technavio transportation
and logistics
research analysts in this report are:

  • Bemis
  • Berry Plastics
  • Coveris
  • Printpack
  • Sealed Air
  • Sigma Plastics

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value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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