NEW YORK, Oct. 28, 2021 /PRNewswire/ -- As per the report published by Market Research Store, global demand for On the Go Packaging market was valued at approximately USD 2,290 Million in 2019, and is expected to generate revenue of around USD 3,309 Million by end of 2026, growing at a CAGR of around 5.4% between 2020 and 2026.
On-the-go packaging is a state-of-the-art packaging solution that offers convenience and easy transportation. This packaging solution may be categorized into cans, films and wraps, trays, rigid boxes, bottles, sachets, and jars. Cereal meals, bakery, sandwiches, drinks and egg foods are some of the products on-the-go which is used to pack the packaging solution referred to above. Paperboard packaging and flexible packaging are the two type of on the Go Packaging.
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Major players in the market are Bemis, Berry Plastics, American Packaging, Amcor, Bryce, InterFlex, Huhtamaki, Mondi, Sigma Plastics, Coveris, Hood Packaging, Novolex, Pregis, Sealed Air, Proampac, Scholle IPN, Sonoco Products, Printpack, 0020Oracle Packaging, WestRock, and Winpak among others.
Growing Demands for On-The-Go Foods and Proactive Consumer's Lifestyles have driven Demand for the Market.
Increased consumer preferences for processed foods are the main driving forces on the global market for on-the-go packaging. The global on-going packaging market is expected to grow consumer inclination towards portability, reusability, simple use, and re-closable characteristics. In addition, the pharmaceutical industry is also contributing to the growing demand for such packaging solutions. Medicines such as syrups, tablets, and ointments require re-closable ability that will drive the on the go packaging market. Health and hygiene products, other consumer goods, and the increasing consumption of dairy-based food products are anticipated to fuel global market demand during the forecast timeline. Furthermore, rising emphasis on manufacturers investing in the development of an innovative packaging solution promotes the market growth of on-the go packaging. Citing an instance, Nestlé had announced in January 2020 that it would invest up to USD 2.09 billion in transforming virgin plastics into recycled food-grade plastics and speeding up the development of innovative sustainable packaging solutions. Certain initiatives are propelling the market growth in recent years.
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North America & Asia Pacific Region Projected To Dominate Global On the Go Packaging Market Growth
Geographically, the global on the go packaging market has been analyzed into five major regions. In 2019, North America is dominating the global market owing to presence of several numbers of players in the packaging sector. Besides the presence of an established mature packaging industry and changing customer patterns, regional market development is also a significant factor. Asia-Pacific is projected to grow at a fastest rate during the projected years. Increasing consumption of ready to eat food, increasing disposable income and the growing population, are the major market dynamics that will aid the market to grow in next five years.
Browse the full "On the Go Packaging Market By Flexible Packaging (Clamshells, Peel off Lids, Plastic Trays, and Zip Pouches), By Paperboard Packaging (Corrugated Boxes, Folding Cartons, and Rigid Boxes), and By End User (Food Beverage, Healthcare, Hygiene Products, Personal Care Industries, and Pharmaceuticals): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026."
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The global On the Go Packaging market is segmented as follows:
By Flexible Packaging:
Peel off Lids
By Paperboard Packaging:
By End User:
Food & Beverage
Personal Care Industries
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Middle East & Africa
Browse all other Packaging Industry Research Reports - https://www.zionmarketresearch.com/category/packaging
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