The global self-heating food packaging market was valued at USD 60.35 million in 2019 and is expected to reach USD 89.16 million by 2028 growing at a CAGR of 5.1% during the forecast period.
Self-warming food packaging is a type of packaging that can heat up foods or beverage products in the packaging container without the use of external sources of heating power. The packet normally releases heats to warm up foods using an exothermic chemical reaction. These packages are primarily used to prepare several main course dishes such as meat, noodles, and coffee which are more tasteful when served hot. The self-heating food packaging is widely used by military personnel, and the mountain climbers who need to consume foods whenever they feel convenient. Moreover, self-heating food packaging is highly popular among the guardians and people who travel a long distance with their babies or family members.
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Market Drivers, Restraints, Trends, and Opportunities
Changing lifestyle, disposable income, and rising preference for long travel among consumers are key factors driving the growth of the self-heating food packaging market. Rising demand for the instant foods such as noodles and refreshments drink such as soups and tea are expected to push the market growth during the forecast period. Growing R&D activities for the development of new self-heating technologies are creating several opportunity for the market growth. Increasing awareness about the functionality and advantages of self-heating food packaging products is expected to boost the market during the forecast period.
Segment Analysis
In terms of types, the market is divided into cans, bottles, pouches, containers, and bags. The containers segment generated a large revenue in 2019 and is projected to dominate the market during the forecast period. The segment growth can be attributed to the rising popularity of the self-heating container among travelers and these containers are user-friendly. On the other hand, the nags segment is expected to hold a substantial market share in the coming years owing to effective heat up and easy to carry.
Based on applications, the self-heating food packaging market is bifurcated into foods and beverages. The foods segment is further classified as ready-to-use, on-the-go, confectionery, and baby food while the beverages segment includes soups, tea, and coffee. The ready-to-use (RTU) segment dominated the market in 2019 and is projected to witness significant growth during the forecast period owing to wide adoption of the packaging for RTU food items. Meanwhile, the beverages segment is anticipated to constitute a large share of the market in the coming years due to the increasing demand.
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to expand at a substantial growth rate during the forecast period owing to the rising consumption of convenient food and beverage items among a large number of consumers in the region. Increasing disposable income of consumers in the region is another key driving factor for the regional market growth.
Competitive Analysis
The Competitors are Tempra Technology Inc., HeatGen, LLC, The 42 Degrees Company, Heat Food and Drink Ltd., and Luxfer Magtech Inc.
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