(MENAFN- Ameliorate Digital Consultancy)
The global on-the-go food packaging market is estimated at USD 1,952 Million in 2022 and is forecast to surpass USD 3,760 Million by 2032, growing at a CAGR of 6.8% during 2022-2032.
The global on-the-go food packaging market contributed by providing around ~1% of the total revenue generated by global food packaging market in 2021. The on-the-go food packaging business is estimated to provide an absolute $ opportunity of USD 1,808 Million during the assessment period of 2022-2032.
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How Polyethylene Terephthalate to Endure as the Most Demanded Material for Food Packaging?
Polyethylene Terephthalate (PET) is a popular material for food packaging due to its unique properties. PET is lightweight, durable, and transparent, making it ideal for packaging products such as water, soft drinks, and juices. PET bottles are also easy to transport and handle, and can be easily recycled, making them an environmentally-friendly option.
In addition to its physical properties, PET is also a safe material for food packaging. It is non-toxic and does not release harmful chemicals into the food or beverage it contains. PET is also resistant to moisture and gas, helping to preserve the quality and freshness of the product inside. PET can be easily molded into various shapes and sizes, making it versatile and adaptable for different packaging needs. As a result, PET is expected to continue to be the most demanded material for food packaging in the foreseeable future.
Despite the growing popularity of other packaging materials, such as aluminum and glass, PET is expected to remain the most demanded material for food packaging due to its unique combination of physical and chemical properties. As consumers continue to demand sustainable and eco-friendly packaging options, PET is also becoming increasingly attractive due to its recyclability and ability to be reused in a closed loop system. With ongoing advancements in PET technology, including the development of recycled and biodegradable options, PET is likely to maintain its position as the preferred material for food packaging for years to come.
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Competitive Landscape: Top Companies in On the go Food Packaging Market
The global on-the-go food packaging market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced on-the-go food packaging.
Fact.MR has provided detailed information about price points of top manufacturers of on-the-go food packaging positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
Key Companies Profiled:
Amcor Limited Mondi Group Sonoco Products Company Bemis Company Inc. Smurfit Kappa Group PLC Huhtamäki Oyj Sealed Air Corporation Georgia-Pacific LLC Berry Plastic Group, Inc. Constantia Flexibles Group GmbH
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Global On the go Food Packaging Market Segments
By Material : Polyethylene Terephthalate High Density Polyethylene Polyvinyl Chloride Low Density Polyethylene Polypropylene Polystyrene Aluminum Others
By Packaging Type : Bottles & Jars Cans Trays Bags & Sacks Pouches & Sachets Others (Folding Cartons, etc.)
By Food Type : Fruits & Vegetables Bakery & Confectionary Meat & Seafood Dairy Products Other Application
Key Questions Covered in the On the go Food Packaging Market Report
What is the projected value of the On the go Food Packaging factors Industry in 2022? At what rate will the global On the go Food Packaging factors market size grow until 2032? Which are the factors hampering the growth of On the go Food Packaging factors? Which region is expected to lead in the global On the go Food Packaging factors market By 2032? Which are the factors driving the On the go Food Packaging factors Industry during the forecast period? What is the expected market value of the On the go Food Packaging factors market during the forecast period?
Regional Analysis For On the go Food Packaging Market:
APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka) Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania) North America (USA, Canada and Mexico) South America (Brazil, Chile, Argentina, Rest of South America) MEA (Saudi Arabia, United Arab Emirates, South Africa)
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