Transparency Market Research delivers key insights for the self-heating food packaging market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2019–2027. In terms of revenue, the global self-heating food packaging market is anticipated to reach ~US$ 77 Mn by the end of 2027, owing to various factors, about which TMR offers detailed insights and forecasts in the self-heating food packaging market report.
The report highlights the key factors responsible for the growth of the self-heating food packaging market across various regions. Detailed analysis based on packaging type, end use, and region is included in the report.
As per TMR analysis, the market share held by the cans segment is high as compared to other packaging types such as bottles and pouches. Furthermore, TMR found that the demand for self-heating food cans is anticipated to rise substantially during 2019-2027. However, the bottles and pouches segment is anticipated to collectively account for more than 15% of the total market share in the global self-heating food packaging market.
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Expansion of Food & Beverages Industry in Europe to Bolster Market Growth
Europe holds the second-largest market share in the self-heating food packaging market, the growth in demand for self-heating food packaging in the region is expected to remain sluggish during the forecast period. A surge in demand for food and beverage packaging along with rising consumer expenditure on convenient packaged food & beverages is expected to offer a positive outlook for the self-heating food packaging market in the region. Spain is anticipated to remain the prominent market in terms of market share and incremental opportunity.
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Rising Need for Instant Heated Food Driving Use of Self-heating Food Packaging
Self-heating food packaging is an innovation in active packaging, with addition of chemical substances within the packaging that eliminates the need for microwaves or external heating of food and beverages. Use of self-heating food packaging allows instant heating of food and beverages products before consumption anywhere, without requiring access to an oven, fire, or a stove. Heating food before consumption is essential in remote cold climatic conditions and high altitude areas. Self-heating food packaging has emerged as an ideal solution to cater to the above mentioned requirement, and is gaining considerable traction in other applications. The rising demand for instant and convenient heating is anticipated to drive the growth of the global self-heating food packaging market during the forecast period of 2019-2027.
Furthermore, self-heating food packaging, which was predominantly used by field engineers and military personnel, is now becoming a part of the routine among indolent consumers. Moreover, self-heating food packaging is also gaining popularity among parents who have to travel around with their babies. Although the self-heating food packaging market is at the nascent stage, growing consumer awareness regarding the functionality and benefits of self-heating food packaging is likely to create significant demand during the forecast period (2019-2027).
Stakeholders Focus on Innovations and Product Launches to Gain Advantage
Evolving consumer interests are projected to strongly influence the growth of the self-heating food packaging market in the coming years. Stakeholders in the current market landscape are expected to monitor these evolving consumer preferences and develop products in sync with these demands. Additionally, brands are also expected to increase investments in the self-heating technology to improve their self-heating food packaging offerings. While beverages are expected to generate more revenue for market players in the self-heating food packaging market, revenues from food are projected to increase at a considerable rate during the forecast period.
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Brands are focusing on launching new products to increase their presence and foothold in the self-heating food packaging market landscape. For instance, in 2018, a Chinese company, Ba Shu Lan Ren launched a self-heating mini hot-pot wherein any type of instant food that requires water, including mashed potatoes, pasta, rice, and vegetables, can be cooked. While the product was available for sale across e-Commerce platforms in countries of Eastern Asia, the company announced that the product is likely to hit the markets in the West post the approval of the FDA.
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