Over the past decade, the vast changes in lifestyles has also transformed food habits. This has stoked the demand for ready-to-eat foods in several regions. The initial morning rush among people, including working professionals and students, has led them to look for quicker and more convenient options for breakfast. The popularity of various breakfast on-the-go, such as cereal meals, sandwiches, breakfast bars, sausages, salamis, cakes, muffins, egg meals, juice, and milkshake, rides on this trend. This is in turn is driving the demand for on-the-go breakfast packaging. Breakfast being the most crucial meal of the day, consumers want healthier snacks filled with nutrients, which is fueling spending on convenience food. This is creating potential demand for the packaging.
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Vendors are offering innovative packaging solutions for grab-and-go breakfast to address specific end-consumer needs. In developing and developed regions, several manufacturers of on-the-go breakfast are experimenting with a variety of unique favors. To add to this, they are coming up with the claims of compelling nutritional benefits. These factors are likely to open up exciting avenues for packaging players. With abundant opportunities likely to emerge over the years, the market for on-the-go breakfast packaging is projected to reach a revenue valuation of US$1.1 billion by the end of 2025, as per a report by Transparency Market Research.
Which type of packaging is anticipated to witness wide demand for on-the-go breakfast?
Two major types of packaging used for packing breakfast on-the-go are rigid and flexible. Of these, the flexible packaging segment held the dominant share in the market. The substantial uptake of this type of packaging is attributed to a burgeoning convenience food market and superior functionality of flexible packaging in ensuring food safety. Various types of flexible packaging such as films, wraps, pouches and sachets are witnessing wide adoption on account of their marked positive sustainability profile, since these enhance shelf-life of food products. In addition, flexible packaging offers ease of use and promotes convenience to end users.
The advent of distinctive packaging designs aimed toward boosting brand appeal and in helping brands get a competitive visual identity is a key factor expected to bolster the adoption of flexible packaging. According to TMR, the segment is projected to rise at 5.5% CAGR during the forecast period of 2017 – 2025.
In recent years, the market has witnessed several acquisitions and mergers by players in the packing industry serving diverse vertical markets, in a move to get a competitive edge over others. These developments bode well for the on-the-go breakfast packaging. Recently, Klockner Pentaplast, a global provider of rigid plastic film and packaging solutions, has entered into an agreement to acquire LINPAC Senior Holdings Limited along with its direct and indirect subsidiaries. Linpac is prominent producer of films and converter for food packaging in Europe. Considered as the complementary acquisition by both players, Klockner Pentaplast will be able to leverage the advanced film production and conversion capabilities of the other, which will boost its presence in rigid and flexible packaging for various food types, including ready-to-eat food. Furthermore, it believes that the acquisition is expected to consolidate its shares in the global market and expected to benefit consumers of on-the-go breakfast.
Regionally, Europe is the leading market for on-the-go breakfast packaging. The vast demand for the packaging in various countries of Europe is attributed to a vast urban population and the growing prominence of nuclear families. The growth is also fueled by a growing number of women entering the workforce in various economies in the regions, as this has persuaded families to opt for convenience foods for breakfast.
On the other hand, Asia Pacific is rapidly emerging market for on-the-go breakfast packaging. This is expected to be driven by a burgeoning working population in several emerging economies and the popularity of ready-to-eat foods among the youth population. In addition, the vast strides made by the packaging industry in the region is also likely to bolster the demand for on-the-go breakfast packaging. The regional market is projected to rise at a CAGR of 5.3% from 2017 to 2025, according to TMR.