Self-heating Food Packaging Market Share to Exhibit Promising Growth
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| Self-heating Food Packaging Market |
The global Self-heating Food Packaging Market is estimated to be valued at US$ 59 Bn or Mn in 2022 and is expected to exhibit a CAGR of 4% over the forecast period 2023 to 2032, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Self-heating food packaging provides convenience food heating without any external heating source. The packages contain chemicals that trigger an exothermic reaction to heat up the content when bent or crushed. This development has gained popularity as it offers on-the-go heated meals without the need for microwaves.
Market key trends:
The self-heating food packaging market is expected to be driven by the rising demand for convenient packaging solutions. One of the key trends emerging in the market is the development of multilayer packages that enable controlled and uniform heating. These advanced multilayer pouches, sachets, or cans contain separate compartments for the chemicals and the food component. On bending the package, the chemicals are allowed to internally react and heat up the food content evenly without hot or cold spots. This innovative development offers enhanced user experience.
Segment Analysis:
The global self-heating food packaging market is dominated by the canned food segment. Canned foods account for over 35% of the market share as they are one of the most popular ways of preserving foods for longer shelf life without refrigeration. Canned products such as soups, stews, beans and others are easily portable and provide instant heating with self-heating food packaging. The demand for canned foods is expected to remain high driven by busy lifestyles and need for convenient meal solutions.
Key Takeaways:
The global Self-heating Food Packaging Market Demand is expected to witness high growth, exhibiting a CAGR of 4% over the forecast period, due to increasing demand for convenient on-the-go meal options.
Regional analysis: North America dominates the self-heating food packaging market with over 30% share due to high consumer spending on packaged foods and busy work schedules leading to demand for easily portable ready-to-eat meals. Asia Pacific is expected to be the fastest growing regional market aided by rising working population and urbanization in countries like China and India.
Key players: Key players operating in the self-heating food packaging market are Tempra Technology Inc., HeatGen, LLC, The 42 Degrees Company, Heat Food & Drink Ltd., and Luxfer Magtech Inc. Tempra Technology dominates the market with innovative aluminum pouch packaging solutions for foods like meals and soups. HeatGen focuses on developing sustainable solutions using iron powder-based technology.
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