by On the go breakfast packaging refers to ready to eat breakfast packaging solutions for consuming breakfast conveniently without much preparation. These packaging solutions include cups, boxes, pots etc made using various materials like plastic, paperboard, aluminum foil etc. suitable for packaging foods like cereals, eggs, sandwiches, fruits etc. The demand for on the go breakfast options is increasing globally due to busy lifestyles and hectic schedules leaving little time for elaborate breakfast preparation at home. The lightweight, tamper proof, leakage resistant and microwavable properties of on the go packaging help preserve freshness and quality of food while allowing easy portability and consumption on the move.
The global On The Go Breakfast Packaging Market is estimated to be valued at US$ 685.51 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the on the go breakfast packaging market is the rising popularity of re-closable and re-sealable packaging solutions.Food packaging manufacturers are focusing on developing innovative packaging designs featuring re-sealable and re-closable features like zippers, clips etc. This allows partially used on the go breakfast packages to be securely closed and consumed later, reducing wastage.Another major trend is the use of sustainable and eco-friendly packaging materials like paperboards and bioplastics for on the go breakfast packaging. Manufacturers are emphasizing on green packaging to boost their sustainability credentials and meet consumer demand for environment-friendly options.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the on the go breakfast packaging market requires high initial capital investments for setting up manufacturing plants. However, availability of raw materials at lower prices and growing demand can encourage new players to enter the market.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of a wide range of product offerings from various manufacturers in the on the go breakfast packaging market. Buyers can negotiate on price owing to the presence of substitutes.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of raw materials from various sources. However, supplier concentration is high as key raw materials such as paperboards, plastics and aluminum are supplied by few major players globally.
Threat of new substitutes: Threat of new substitutes is low as healthier food packaging solutions have limited close substitutes. However, factors such as convenience offered by alternatives such as pouches and bags can pose challenge.
Competitive rivalry: Competitive rivalry is high owing to presence of numerous global and regional players offering varied product portfolio targeting specific consumer segments.
Key Takeaways
The Global On The Go Breakfast Packaging Market Demand is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing demand for convenient eating solutions among busy consumers.
The Asia Pacific region dominated the global market in 2023, accounting for around 35% of the total share, due to rising disposable incomes and expanding working population in countries such as India and China. Factors such North America and Europe are also expected to present lucrative opportunities with rising preferences for easy to carry food items.
Key players operating in the on the go breakfast packaging market are Amcor plc,3M,DuPont,Tetra Laval International S.A.,Mondi,Berry Global Inc.,Ardagh Group S.A.,Bemis Manufacturing Company,Graham Packaging Company,Crown,BALL CORPORATION,Constantia Flexibles,CKS Packaging, Inc.,Sonoco Products Company,ProAmpac,Alcoa Corporation,Huhtamäki Oyj,Sealed Air,WINPAK LTD,DS Smith.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
