Grab and Go Bottles In Line With Rising Trend of Ready-To-Consume Products, Finds FMI
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As the working demographic cohort tends to expand, demand for food and beverages that require minimum preparation time increases. Companies are abiding by the notion that consumers, especially singleton households, are reluctant in investing in products containing amount that looks excessive for their consumption. Store owners, in response to the changing consumption pattern, are replacing bulk packaging on the shelves with individual packaging, such as grab and go bottles. Further, consumers are hunting for items that are ready-to-consume and consume them in single portions to curb environmental waste.
Europe, on back of increasing singleton households along with rising working population, keeps stakeholders engaged throughout the period of projection. Upsurge in prevalence of portion-centric items among time-pressed individuals remains gold mine of growth for sales of grab and go. In its recent market study, FMI computes that the global grab and go bottles market, which is a US$ 65 Bn market, is anticipated to outreach US$ 100 Bn by 2029 end.
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Plastics Making Headway, Glass Remains Sluggish
While glass grab and go bottles ensure long-lastingness, they are delicate and slightly expensive. As such, products made of glass pose the risk of getting compromised during transportation. Further, in order to avoid the potential risk, enterprisers are required to invest additionally for protective packaging. Plastic grab and go bottles, on the other hand, are lightweight, and rigid, thereby eliminating the need for additional packaging expenses. FMI finds that plastic grab and go bottles are set to reach a value greater than 3x that of the glass iteration by 2029 end.
Traditional plastics are minimally recyclable, with a majority ending up in landfills. To ease off the burden on landfills, manufacturers are banking on recyclable plastics, such as polyethylene (PE), polypropylene (PP), and PET (Polyethylene terephthalate). However, PE and PP, despite umpteen benefits, are not fully recyclable. Whilst PET showcases 100% recyclability, as such, remains highly among manufacturers of grab and go bottles. Further, as regulatory authorities, including the FDA (Food and Drug Administration), are granting approvals to the usage of PET, prevalence of PET-derived grab and go bottles is expected to amplify throughout the forecast period (2019-2029).
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Analysts at FMI suggest that “Consumption patterns across the globe are subject to change citing rapid lifestyles of consumers. With singleton households on a rise, the demand for small-sized grab and go bottles is set to surge. Further, stakeholders are leveraging recyclable plastics to relax regulatory norms in order to deepen product penetration into untapped regions.”
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