NEWARK, Del, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The global grab-and-go bottles market, valued at USD 81.6 Billion in 2024, is set to expand at a steady CAGR of 3.8%, reaching an impressive USD 118.2 Billion by 2034. With a robust year-on-year growth of 4.7% projected for 2024, the market is experiencing significant momentum, largely fueled by the rising consumption of ready-to-drink beverages and the shift towards sustainable packaging solutions.
A significant shift from rural to urban areas in various developing economies is a key factor driving grab and go bottles market. Rapid lifestyle changes in terms of working hours, commuting time, and reduced time for daily chores result in an increasing preference for packaged food & beverage options. Working professionals, single-person households, and students are opting for ready-to-drink beverages, which they can easily pick from supermarkets or convenience stores.
Lifestyles of the middle-class population have improved significantly in the recent past due to rapid development of various economies. Furthermore, a rise in the number of working members in a family has resulted in changing food & beverage consumption patterns. Consumption of convenience food & beverages is on the rise, and is anticipated to significantly drive the global grab and go bottles market.
In Australia, customers under 25 years of age are the prime target segment for on-the-go breakfast products, with around 13% buying breakfast drinks each month. Consumers aged 35 to 49 are also developing a taste for breakfast drinks, which is further estimated to fuel the expansion of the market during the forecast period.
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Innovations in Product Design to Aid Customer Base Expansion
As PET bottles are recyclable, grab-and-go bottles made of this material are expected to continue to be highly preferred among manufacturers. Moreover, the growth in demand for grab-and-go bottles in emerging economies of Latin America and the Middle East & Africa is expected to provide lucrative opportunities for market growth. Increasingly stringent rules & regulations regarding the use of single-use plastic bottles make it crucial for manufacturers to prioritize the recyclability of grab-and-go bottles.
The global packaging industry has undergone substantial transformations in the last few decades. The design of the particular product is a crucial element of packaging and is likely to remain a key winning imperative to draw consumer attention in the marketplace. The high demand for variety in capacities and shapes has enabled strong competition in design-level innovations. Thus, efforts towards the innovative design of grab-and-go bottles will be fruitful for the grab-and-go manufacturers.
Key Takeaways from the Global Grab and Go Bottles Market
- Plastic remains a preferred material choice for the manufacturing of grab-and-go bottles during the forecast period. Grab-and-go bottles manufactured from plastic material are light-weight, non-fragile, and economical, thus manufacturers prefer plastic material. By material type, the plastic segment is expected to expand at a CAGR of 3.8% during the forecast period.
- Grab-and-go bottles with capacities ranging from 251 to 500 ml are highly preferred by consumers capturing 40% of the market share. It is observed that consumers are mostly opting for grab-and-go bottles having capacity ranges from 251 to 500 ml, making it a lucrative segment for the growth of grab-and-go bottles in coming years. However, grab-and-go bottles have a capacity of up to 250 ml to witness traction in coming years as consumers from emerging economies are opting for smaller-size bottles.
- The beverage industry is a prime consumer of the grab-and-go bottle and is likely to generate a total incremental $ opportunity of US$ 33.5 billion, by the end of the forecast period. Growing consumption of grab-and-go beverages across the globe is driving the growth of grab-and-go bottles during the forecast period.
- South Asia to remain a significantly growing region for the global grab-and-go bottles market. The presence of emerging economies, rising disposable income, and a growing working population with significant changes in drinking habits are among the factors driving the growth of South Asia's grab-and-go bottles market in the coming years. By the end of the forecast period, South Asia to witness a value expansion of 1.5X.
“Impulse purchase behaviour of on-the-go consumers is foreseen to place grab-and-go beverages ‘front at store’ at grocery shops, convenience stores, and mass merchandisers. Grab-and-go beverages are overflowing on shelves of supermarkets, quickly replacing generic products.”- Says Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
India and China to Emerge as Profitable Regions for Beverage Giants
The East & South Asia regions are the leading contributors to the global grab-and-go bottle market. China in East Asia and India in South Asia respectively are expected to spearhead the grab-and-go bottle market growth over the forecast period. China and India have witnessed rapid penetration of modern retail outlets, especially in urban areas.
Easy access to hypermarkets and supermarkets has enabled an increase in the consumption of beverages such as soft drinks. This has enabled beverage giants such as PepsiCo and Coca-Cola Company to invest heavily in areas of production, enhancing their manufacturing capacity, and ramping up their supply chain, all of which has led to an increasing demand for beverage packaging solutions.
An increase in per-capita incomes and the growing trend of the on-the-go lifestyle of consumers in these regions has facilitated exponential growth of the grab-and-go bottle market. Currently, India represents the sixth largest market for Coca-Cola Company, and the company is planning to make India its third largest market.
The per-capita consumption of soft drinks in India accounts for a meagre 5% of the consumption in the USA However, the meteoric growth in the consumption of soft drinks indicates immense opportunities for beverage packaging solutions manufacturers, especially in the area of grab-and-go bottles and beverage cans. There has also been an increase in preference for premium packaged beverages, which is expected to present lucrative opportunities for the grab-and-go bottle market in the region.
Key Players of Grab and Go Bottles Industry
- Amcor Plc
- Ardagh Group S.A.
- Gerresheimer AG
- Owens-Illinois, Inc.
- Berry Global Group Inc.
- KanPak LLC
- Graham Packaging Company Inc.
- ALPLA Group
- Vidrala SA
- Precision Concepts International LLC
- Can-Pack S.A.
- Silgan Plastics
- Pretium Packaging
- Plastipak Holdings Inc.
- Arglass
- Vetropack Holding Ltd
- AGI glaspac
- Stoelzle Glass Group
- SGS Bottle
- Vitro Glass Containers
- Frapak Packaging
Report URL: https://www.futuremarketinsights.com/reports/grab-and-go-bottles-market
Global Grab and Go Bottles Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global market for grab and go bottles, analysing historical demand from 2019–2023 and forecast statistics for 2024–2034.
The study reveals market growth projections based on capacity (plastic (PE, PET, PP, others) and glass), capacity (up to 250 ml, 251 – 500 ml, 501 - 1,000 ml, and above 1,000 ml), and end use (food (sauces & condiments, soups & syrups, dairy products, and others), beverages (alcoholic and non-alcoholic (tea & coffee juices, soft drinks, bottled water, and others)), cosmetics & personal care, and others), across seven regions.
Key Segments of the Grab and Go Bottles Industry
By Capacity:
In terms of capacity, the industry is divided into up to 250 ml, 251-500 ml, 501-1,000 ml, and above 1,000 ml.
By Material:
In terms of product type, the industry is segregated into plastic and glass. Plastic is further classified as polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), and others.
By End Use:
The industry is classified by end use industries as food, beverages, cosmetics & personal care, and others. Food is further classified as sauces & condiments, soups & syrups, dairy products, and others. Beverages are further classified as alcoholic and non-alcoholic. Non-alcoholic beverages are divided into tea & coffee juices, soft drinks, bottled water, and others.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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