Evolving Consumer Taste and Lifestyle Changes to Drive Demand
Consumer trends, preferences, and niche interests have played an important role in the development of the food & beverages sector. In the past few years, packaging trends in the food & beverages sector have also witnessed large-scale evolution as a result of the growing consumer appetite for ready-to-eat, convenient, mildly processed food products with long shelf life and high quality levels. Lifestyle changes have played a substantial role in bringing about noteworthy changes in modern-day food packaging wherein self-heating food packaging has garnered significant popularity. The packaging sector is gradually moving away from traditional packaging techniques and toward recently developed innovative techniques, including intelligent packaging, active packaging, and bioactive packaging.
In recent times, intelligent packaging has gained immense traction, and with it, the demand for self-heating food packaging has increased at a substantial pace. Significant development in packaging technologies and growing adoption of intelligent packaging devices, including time-temperature indicators, sensors, self-cooling, and self-heating containers wherein electronic displays are embedded, are likely to boost the growth of the self-heating food packaging market during the forecast period.
Personalization is another key trend that has gained significant momentum within the self-heating food packaging market. The growing trend of personalization, advent of new patented self-heating food packaging technologies, and shift toward holistic products are some of the major factors that are likely to drive the global self-heating food packaging market during the forecast period. The market is expected to reach a value of ~US$ 77 Mn by 2027.
Planning to lay down future strategy? Perfect your plan with our report brochure here https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=15218
Indolent Consumers Boost Demand for Self-heating Food Packaging
Fast-paced consumer lifestyles, particularly in urban areas across the world, have opened up new avenues within the food & beverages and food packaging space. While stakeholders up the ante in their pursuit of innovative packaging solutions, interests in self-heating food packaging solutions have moved in the upward direction in the past few years. Heat insulator layers are increasingly being used in the self-heating food packaging market to prevent external heat from interacting with the food stored inside the food container.
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.
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.
In September 2018, Spanish player 42 Degrees acquired a patent and technology for self-heating cans, which enable the company to produce as much as 10 million self-heating cans annually. The recently developed self-heating cans can be used to heat an array of beverages, including liquid foods, tea, and coffee. Apart from expanding their product portfolio, participants in the self-heating food packaging market are expected to focus on product pricing, branding, and marketing strategies.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Self-heating Food Packaging Market https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=15218
Self-heating Food Packaging Market: Overview
- According to Transparency Market Research’s latest report on the global self-heating food packaging market for the historical period of 2014-2018 and forecast period of 2019-2027, the market is anticipated to be driven by the increasing demand for packaging that offers self-heating features within the packaging itself when consumers are on-the-go
- The global self-heating food packaging market is projected to expand 1.3x its current market value by the end of 2027
Rising Adoption of Self-heating Food Packaging in Beverage Industry to Boost Sales
- The global self-heating food packaging market is expected register a value CAGR of 3% during the next eight years. Demand for ready-to-consume edible products, increasing number of on-the-go consumers, and increasing consumer spending on packaged food and beverage products are key factors contributing significantly to the growth of global self-heating food packaging market.
- As per TMR analysis, the beverages industry is anticipated to account for prominent market share, by end use, during the forecast period 2019-2027. End users prefer cans and bottles for the packaging of liquid products such as soups, tea, and coffee. Moreover, increasing demand for self-heating food packaging has been witnessed more from the beverage industry.
- Most of the fast-moving consumers prefer self-heating packaged food products over traditional packaged food products, attributable to the elimination of an external heating source required to heat food and beverage products before consumption.
