The global single-serve packaging market continues to gain popularity as ‘one portioned’ meals and snacks are becoming more prevalent in the food & beverage industry. Consumer inclination towards convenience food; dietary awareness towards freshness and reduction of waste are the core drivers that will derive product demand. A rise in eating & drinking occasions in offices; workplaces; schools and in transit also adds up to the increasing demand for the single-serve packaging market.
In today's world where portability and on-the-go functionality has redefined a lot about a product & concept of consumption, people prefer less wastage, more convenience and practicality. Hence, manufacturers are looking for ways to satisfy consumers with portioned marketing. It essentially means to deliver higher value for food & beverage, healthcare, consumer goods, and the personal care industry by introducing innovative concepts such as single-serve packaging.
Single-serve packaging needs to be small enough to fit into a pocket, backpack, or a purse along with being tough enough to sustain a daily & rigorous environment. What consumer looks for in such packaging are variety; lightweight & affordability. These forms of packaging when twined with improving digital printing aesthetics, compliant labeling & adoption of environment-friendly technologies will create value and convenience for the product at each stage of the value chain (ie. manufacturing, distributing, inventorying, displaying, and retailing).
Cost-efficiency offered by single-serve packaging when compared to other forms of rigid packaging solutions is very high. Low overhead cost in manufacturing, reduced requirements for raw material along with lower cost incurred while packing, printing & shipping is responsible for the growth of the market.
Various regulations and policies authored by the airport authority and other governmental agencies which limits the quantity of allowed products through security while traveling also creates a need of miniature packaging. Even, when we talk about practicality a person travelling for a weekend or a shorter period of time, would prefer carrying smaller or lightweight products. Hence, we can see a lot of cosmetics and toiletries are offering single-serve packaged options which is easy to use and carry during travel.
Based on material type used for production, single-serve packaging market can be segmented into flexible plastics, paper & paperboard. Rise of single-serve packaging solutions can be attributed to the growing demand from flexible packaging solutions such as stick packs, pouches, and sachet. Its ability to keep food fresh for a longer period of time makes it a suitable option of food vendors. Consumers turning to online food delivery creates a need of quality, economically competitive & comfortable food packaging solution, thus constructing a growth avenue for the flexible plastic-based single-serve packaging markets.
Based on application, the market can be segmented into food & beverages, pharmaceuticals, personal care & cosmetics. Food & beverage along with pharmaceutical applications can be considered to be the majority shareholder in the market based on the rate of consumption and need for fresh and convenient packaging solutions from consumers. Manufacturers are now more interested in developing new product technologies which offer features such as easy to open, single hand convenience, portion control and portability. This further catalyzes growth for the product in the market.
According to the Flexible Packaging Association, U.S. accounts for USD 135 billion packaging sales of which a majority share is covered up by flexible packaging solutions. They offer many advantages compared to rigid packaging. They are easy to store, more convenient to open, and highly adaptable to be resealed. These products display attractive shelf appeal, use less materials, and offer better shipping characteristics. Most of the currently used flexible packaging materials include polyethylene, polyethylene terephthalate, and polypropylene which is easily decomposable compared to polyvinyl chloride and henceforth should boost product demand.
Asian countries including India, China, Japan, Thailand, and South Korea has huge demand for convenience and packaged food, the demand is ever increasing due to the busy lifestyle observed to those demographic of consumers. An increase in average payout and awareness for consuming healthy food should drive demand for the single-serve packaging market. Moreover, a free trade agreement in the ASEAN region is expected to boost opportunities for single-serve packaging manufacturers/suppliers.
North America single-serve packaging market is anticipated to dominate the market share which can be transcribed to the prevalence of organized retail stores and outlets. Moreover, single-serve packaging being a modern and innovative concept, the market is not well explored and industry players have huge opportunities to capitalize on this untapped segment. Rapid introduction of technologies along with its fragmented market nature causes intense competition which finally boosts production output.
African countries including Nigeria, South Africa, and Egypt are expected to witness significant growth during the forecast period, which can be transcribed to increased tourism in these nations. Many multinational companies also have set up offices in these countries, creating work opportunities that have led to an increase in spending powers for its local people.
Some of the key industry players offering single-serve packaging solutions include Amcor, Bemis, TC Transcontinental, Tetrapak and T.H.E.M. Most of these companies have an extensive presence in the packaging industry and look forward to expanding its geographical presence by partnering up with local players. Since the industry is highly fragmented and small-sized manufacturers find it hard to plan for sustainability, strategies such as mergers & acquisition (M&A), partnership agreements & spin-offs should boost product market size. In 2018, Amcor acquired Bemis Co. on a deal which valued up to USD 6.8 billion. This acquisition led Amcor to expand its regional presence in the U.S. along with gaining its technical prowess. Previously Amcor also acquired a China-based packaging company Hebei Qite Packaging in 2016.
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."
The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor.