by On the go breakfast packaging products such as cereal bars, muffins, instant noodles, oats, and snacks provide convenience and portability for consumers with a busy lifestyle. The growing need for healthy yet convenient breakfast meals on the run is driving demand for breakfast options that can be easily consumed without preparation.
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:
The increasing demand for convenient food options is one of the major factors augmenting the growth of the on the go breakfast packaging market. Busy lifestyles and hectic schedules leave little time for elaborate breakfast meals at home or cafes for many consumers. On the go breakfast packaging offers portion-controlled, ready-to-eat breakfast solutions that can be easily consumed on the move. The packaging is designed for portability and durability to ensure the product remains safe and fresh until consumed. Various types of leak-proof and tamper-evident packaging such as bags, boxes, cups, and wraps are used for on the go breakfast products. This key trend is expected to continue driving market growth over the forecast period.
SWOT Analysis
Strength: On the go breakfast packaging allows convenient consumption of breakfast while on the move. This suits fast paced lifestyle.
Weakness: Packaged foods tend to have high preservatives and lower nutritional value compared to homemade foods. Plastic packaging also has environmental impact.
Opportunity: Growing health consciousness and preference for convenient packaging offers opportunities to provide better nutrition options in on the go packs. Innovation in sustainable packaging can also boost market opportunities.
Threats: Rise in prices of raw materials and supply chain disruptions due to geo-political issues pose threat to stable operations. Strong competition from substitutes like fast food restaurants can lure customers away.
Key Takeaways
The Global On The Go Breakfast Packaging Market Size is expected to witness high growth. 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.
North America currently dominates the market due to busy consumer lifestyles that depend on packaged breakfast items. Asia Pacific is likely to emerge as the fastest growing region supported by growing disposable incomes, young population and adoption of Western lifestyles.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
