by The on the go breakfast packaging market has witnessed substantial growth in recent years due to the increasing urbanization and changing lifestyles. On the go breakfast products are packaged conveniently in cups, tubs, boxes, wraps, pouches and bags that allow easy consumption of breakfast while travelling, jogging or spending time at workplaces. Consumers today are increasingly looking for more protein-packed and healthy breakfast options that are portable and contain fruits, oats, nuts and yogurt. The easy availability of ready-to-eat breakfast options in attractive and reusable packaging fulfils the unmet needs of consumers with hectic schedules.
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 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the on the go breakfast packaging market is the rising popularity of premium flexible packaging. Flexible packaging enables lightweight, portable and custom shaped packaging for various breakfast products. Materials such as laminated films, pouches and wraps provide excellent barrier properties to seal in freshness. Their resealability, transparency and printability allow attractive product branding and communication of nutritional information. Another key trend is the increased adoption of eco-friendly and sustainable packaging made from paperboard, recycled plastics and compostable materials. Consumers are willing to pay premium prices for packaging with minimal environmental footprint. Manufacturers are extensively innovating packaging designs to draw attention of health-conscious consumers and position their brands as sustainable.
Porter’s Analysis
Threat of new entrants: The on-the-go breakfast packaging market is moderately difficult to enter due to significant requirement of capital to setup new production facilities and distribution networks.
Bargaining power of buyers: The bargaining power of buyers is moderate as key players have strong brand loyalty and product differentiation strategies in place.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials used in manufacturing breakfast packaging are commoditized and widely available.
Threat of new substitutes: The threat of substitutes is low as packaged breakfast products offer high convenience compared to conventional unpackaged alternatives.
Competitive rivalry: The competitive rivalry is intense among existing players due to the presence of numerous small and large companies competing for market share.
Key Takeaways
The Global On-The-Go Breakfast Packaging Market Size is expected to witness high growth. North America held the largest market share in 2022, attributed to rising demand for convenient packaged food options. 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 5.1% over the forecast period 2023 to 2030.
Regional analysis: Asia Pacific is expected to be the fastest growing market during the forecast period due to increasing disposable incomes and expanding retail sector in developing countries such as India and China.
Key players: Key players operating in the on-the-go breakfast packaging market are Adani Wilmar Ltd., Ruchi Soya Industries Ltd, Associated British Foods plc, Archer Daniels Midland Company, Beidahuang Group, Bunge Limited, Borges Mediterranean Group, Cargill Incorporated, Fuji Vegetable Oil, Inc., Adams Group, American Vegetable Oils, Inc., and Olympic Oils Limited. They are focusing on new product launches and mergers & acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
