The global on-the-go breakfast packaging market
is characterized by the presence of a large number of players that
renders the vendor landscape highly competitive, says Transparency
Market Research (TMR) in one of its recent reports. Some of the leading
companies are Amcor Limited, Bemis Company Inc., Berry Global Inc.,
Sealed Air Corporation, Sonoco Products Company, and Tetra Pak
International S.A. A
As per the report by TMR, the global
on-the-go breakfast packaging market is expanding at a steady CAGR of
5.1% between 2017 and 2025. At this pace, the market’s valuation of
US$743 mn in 2016 will reach US$1.1 bn by 2025.
Flexible Packaging Displays High demand Globally
The global on-the-go breakfast packaging
market has been segmented into rigid packaging and flexible packaging
based on packaging type. Flexible packaging is the dominating segment
due to the convenience associated with light weight packaging. It is
expected to remain in the lead in the foreseeable future too.
By material type, plastic dominates the
on-the-go breakfast packaging market with the segment expected to
account for 56.1% of the market by the end of 2017.
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Europe stands as the leading regional
market for on-the-go breakfast packaging, however, Asia Pacific is
expected to display the leading CAGR of 5.3% between 2017 and 2025.
The global on-the-go breakfast packaging
market has been witnessing robust growth on account of several factors,
which includes changing lifestyle of people, with more consumers
preferring on-the-go food. Growing number of nuclear family set-ups in
urban areas with both the partners working does not leave adequate time
for home cooking on a regular basis. This is fuelling the demand for
packaging for on-the-go foods.
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