On the go breakfast packaging Market Is Estimated To Witness High Growth Owing To Increasing Demand For Convenience Foods And Growing Health Awareness Among Consumers
The on the go breakfast packaging market is estimated to be valued at USD 1.45 Billion in 2024, exhibiting a CAGR of 4.6% over the forecast period (2024-2031). Furthermore, the rising demand for convenience foods, especially among the working population seeking on-the-go options is expected to drive the market growth.
The fast-paced lifestyle of consumers has increased the demand for convenient and ready-to-eat food products. On-the-go breakfast items packaged in microwavable containers, bags, boxes, etc. allow consumers to save time in preparing breakfast. This growing demand for convenience is a major driver for the on-the-go breakfast packaging market.
Consumers are increasingly becoming health conscious and prefer food products with nutritional benefits. On-the-go breakfast items offer products high in proteins, fibers and other essential nutrients. The packaging promotes the nutritional values and attract consumers. Thus, the rising health awareness among people is fueling the demand for on-the-go breakfast packaging.
Growing Demand for Convenient Packaged Foods
The fast-paced lifestyle of consumers has increased the demand for convenient packaged foods that can be consumed on-the-go. Breakfast cereals, yogurt, fruit cups, etc. packaged in easy to carry pouches, boxes and bottles are seeing more popularity as people are looking for options to grab breakfast quickly without much preparation. The packaging used for on-the-go breakfast foods needs to keep the contents fresh for longer duration and prevent spillage which drives the need for innovative designs and materials in on-the-go breakfast packaging market.
Rise in Single Person Households
With more people choosing to live independently or in small families, the number of single person households has risen significantly over last few decades. People living alone usually opt for ready-to-consume food items that can be prepared and eaten quickly without hassle. Since making breakfast from raw materials require more time and effort, convenient packaged breakfast has become preferred choice for these households. The on-the-go breakfast packaging caters effectively to this demographic group boosting demand in the respective market.
Strict Regulations around Food Packaging
Regulatory bodies worldwide are implementing stringent norms regarding packaging materials that can come in direct contact with food products. Many countries have even banned few widely used plastics due to environmental and health concerns. Food packaging manufacturers need to adhere to various quality and sustainability standards for packaging materials and designs. Complying with dynamic regulations increases production costs for on-the-go breakfast packaging manufacturers posing challenge in the market.
Price Sensitivity of Target Consumers
Consumers purchasing on-the-go breakfast options are usually highly price sensitive as breakfast contribute small portion of daily food budget. High packaging costs can significantly increase product prices making them unaffordable for target customers. Companies need to optimize packaging production and design to offer value for money packaged breakfast solutions within affordable price ranges, limiting opportunities for premium profitable offerings in this market.
Growth of Organic and Healthy Food Segment
Increasing health consciousness has boosted the demand for organic, nutrient-rich breakfast choices with simple ingredients. On-the-go breakfast packaging presents opportunities to cater to this fast growing segment by offering fiber-rich, protein-fortified cereal bars, granola packets, etc. in planet-friendly sustainable materials. Functional designs allow showcasing nutrition facts and ingredients transparency attracting more health-conscious consumers.
E-commerce Boom Expands Addressable Market
Rising internet and smartphone penetration has expanded sales channels for food brands beyond physical stores. Online marketplaces provide access to new customer demographics across wider geographies. On-the-go breakfast packaging designed for robustness in delivery processes unlock opportunities to tap into e-commerce demand. Innovative multipack bundles and subscription offerings can boost convenience and attract online customers.
Link: https://www.coherentmarketinsights.com/market-insight/on-the-go-breakfast-packaging-market-3602
Key Developments
- In January 2024, Quaker, the well-known oatmeal brand, announced its "Beyond Breakfast Strategy." This strategic initiative aims to expand Quaker's product offerings beyond its traditional breakfast staples and into new market segments.
- In June 2024, Scotland's leading confectionery manufacturer, Tunnock's, unveiled a nostalgic packaging design for its iconic teacakes. The new design pays homage to the company's rich history and heritage, while also appealing to a new generation of consumers.
- In 2023, Kellogg's India, the leading breakfast cereal brand, collaborated with Hershey's, the iconic chocolate company, to launch a new breakfast cereal product called Hershey's Chocos. This partnership aims to combine the beloved Hershey's chocolate brand with Kellogg's India's expertise in delivering healthy and nutritious breakfast options.
- In December 2021, General Mills, the renowned food company, launched eight new varieties of ready-to-eat cereals to expand its product line. This strategic move aimed to cater to different customer segments, including kids and those following the keto diet.
- In 2018, Nestle, the global food and beverage giant, entered the packaged breakfast market with the launch of Nesplus, a new breakfast cereal brand. The brand was designed to cater to the growing demand for convenient and healthy breakfast options.
Key Players
Nestle S.A., Smurfit Kappa Group, DS Smith Plc, Mondi Group Plc, WestRock Company, International Paper Company, Coveris Holdings S.A., Berry Global Group Inc., Huhtamäki Oyj, Winpak Ltd., Schur Flexibles Holding GesmbH, Constantia Flexibles Group GmbH, Glenroy, Inc., ProAmpac LLC, Klockner Pentaplast, and Sonoco Products Company
