Grab and Go Bottles Market Set for 5% CAGR Growth by 2031
According to the latest Future Market Insights (FMI) study, the global grab and go bottles market will top US$ 75 Bn in 2021. The market has been projected to register 5% CAGR between 2021 and 2031.
Grab and go beverages are becoming popular among the on-the-go millennial generation. Grab and go beverages rank high on consumer perception about product quality. Their ready availability in supermarkets/hypermarkets, convenience stores, and many physical outlets has fueled their sales globally.
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Currently, the working population is indulged in jobs and businesses which has resulted in significant change in drinking habits. As a result, an increasing number of consumers are willing to spend on more grab and go beverages as they are a convenient choice, suitable for their daily routine.
Also, the willingness to spend more on eye-catchy and eco-friendly bottles among young population is consistently increasing, created high prospects for grab and go bottles market players to capitalize on. With the increasing recreational sports and gym activities, consumer inclination towards health supporting food and beverages consumption has shot up. This has bode well for the market.
Bottles are preferred for such activities as they are less prone to damage during transit and are lightweight. To minimize carbon impact on the environment, most of the key players manufacturing are strategically planning to include tones of post-consumer recycled plastic in their manufacturing process. For instance, Alpha Packaging makes its bottles from 100% post-consumer resin for food and pharmaceutical industry packaging.
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Key Takeaways from Grab and Go Bottles Market
- Plastic, in terms of material type, is expected to hold almost ¾th of the value share in the global market.
- Although 251-500 ml bottle capacity segment is leading in the global grab and go market, up to 250 ml bottle capacity segment is predicted to gain by ~150 bps of current market share, by the end of 2031.
- High consumption of grab and go bottles is witnessed in beverage packaging. Therefore, this segment is expected to register a CAGR of 5.6% during next decade.
- The Europe market is projected to hold approximately 32.5% of the global market share in 2021.
Technological Innovations like RFID and NFC to Reshape Grab and Go Bottles Market
With the technological advancements, grab and go bottles industry has seen an increase in the number of innovative product launches in the past five years. There is a constant need for innovation among the industry players to sustain themselves in the extremely competitive market.
The introduction of RFID to replace traditional bar codes to increase convenience in the tracking and tracing of the product has caught the attention of the market and gained popularity quickly. QR codes are the latest addition to the bottles industry used for several purposes like displaying detailed product information, tracking the product through the supply chain and as a means of keeping logs by stores.
Some of the key players in the plastic bottles market are also working on introducing NFC technology to further enhance consumer experience and improve supply-chain management. Launching innovative bottles in the market can prove to be an incredible opportunity for the manufacturers to capture maximum market share in the industry.
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Demand in Restaurants and Foodservices Driving Grab and Go Bottles Sales
Restaurants and other food service outlets have noticed the trend of bottles being used as a carry-out accessory from the last few years and are investing in the grab and go beverages to complement their existing menus.
Several food service vendors are putting refrigeration units while others are installing vending machines to add new revenue streams to their business. As today’s consumer is also quite happy with the grab and go drinks items, the grab and go bottles is foreseen to witness significant demand in years to come.
Global grab and go bottles market comprises fewer organized as well as local players competing for each other based on design, quality, and price of grab and go bottles. The packaging design of grab and go bottles remain key winning imperatives to draw consumer attention in the marketplace, and manufacturers need to put more emphasis on the design of grab and go bottle.
Grab and Go Bottles Market Landscape
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, and Intrapac International Corporation. Tier one players are expected to hold 10% to 15% of the total market share.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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