As per a newly released data by FMI, the global grab and go bottles market is projected to total US$ 75 Bn by the end of 2021. Increasing use of grab and go bottles for packaging syrups, soups, sauces, and others across the food industry is facilitating the demand in the market.
Grab and go bottles are increasingly being used as packaging solutions for ready-to-drink beverages, owing to the convenience associated with it, suitable for the on-the-go millennial and Gen-Z’s. On account of this, the market is estimated to expand at a 5% CAGR over the forecast period 2021-2031.
Hence, increasing consumption of soft drinks, juices, and others and growing availability of aforementioned beverages in supermarkets, convenience stores, and many retail outlets are creating high revenue generation opportunities in the market.
With rising concern regarding the environment, leading beverage manufacturers are aiming at introducing sustainable liquid packaging solutions. For instance, Coca-Cola Co. announced launching sustainable grab and go bottles made of 100% recycled polyethylene terephthalate (PET) for its soft drink in February 2021.
A multiplicity of new products launches is expected to aid the market. Against this backdrop, the global grab and go bottles market is set to register 4.4% year-on-year growth between 2020 and 2021.
Based on material type, plastic is anticipated to remain the most preferred material in the market, accounting for nearly 3/4th of the sales in 2021. Attributes favoring the growth in the segment are low cost, lightweight, high durability, and versatility as compared to glass bottles.
“Growing preference of personal care and cosmetic product manufacturers towards adopting sustainable grab and go packaging solutions for serums, liquid foundations, body lotions, shampoos, and others is accelerating the growth in the market,” says a FMI analyst.
Key Takeaways from Grab and Go Bottles Market Study
- The U.S. is forecast to dominate the market in North America, owing to the increasing consumption of ready-to-drink beverages in the country.
- Europe is anticipated to account for around 32.5% of overall sales in 2021, favored by the growing adoption of sustainable packaging solutions in the U.K. and Germany.
- China is projected to emerge as the most lucrative grab and go bottles market, exhibiting sales at 5.6% CAGR between 2021 and 2031.
- In terms of capacity, up to 250 ml bottle capacity segment is estimated to register swift growth, gaining around 150 BPS of the current market share through 2031.
- On the basis of end use, the beverage segment is expected to account for the largest share, expanding at 5.1% CAGR over the assessment period.
- Increasing consumption of bottled water as an alternative to tap water, owing to the rising prevalence of water-borne diseases due to consumption of contaminated water is propelling the demand for grab and go bottles.
- Rising trend of single households across the U.S., Japan, China, Germany, and others is fueling the demand for ready-to-eat food and beverages, which is in turn, boosting the sales of grab and go bottles.
For information on the Research Approach used in the Report, Request Methodology@ https://www.futuremarketinsights.com/ask-question/rep-gb-10673
- High cost, less durability, and low shock withstanding characteristics of glass compared to plastic are hindering the sales of grab and go bottles across the glass segment.
Top five companies operating in the global grab and go bottles market are Amcor Plc., Nampak Limited, Ardagh Group S.A., Owens-Illinois, Inc., and Graham Packaging Company, Inc. These players are anticipated to collectively to hold around 10% to 15% of the sales in 2021, as per FMI.
Some of the key players operating in the market profiled by FMI are: Amcor Plc., Nampak Limited, Ardagh Group S.A., Gerresheimer AG, Owens-Illinois, Inc., Berry Global Group, Inc., KanPak LLC, Graham Packaging Company, Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, Vidrala SA, Intrapac International Corporation