July 13, 2024
Self-heating Food Packaging Market

The Self-Heating Food Packaging Market Powered By Growing Food And Beverages Industry

Self-heating food packaging allows the consumer to heat up pre-packed ready meals by activating a chemical reaction within the packaging. The technology enables heating the product using just the package alone without any external source of heating. This makes it very convenient for on-the-go consumption. The growing demand for convenience foods has been a key driver for the self-heating food packaging market. Increasing number of people are relying on ready-to-eat meals as they lead busy lifestyles and have less time for cooking. Self-heating packaging provides an easy solution and has gained popularity with working professionals and students.

The global Self-heating Food Packaging Market is estimated to be valued at US$ 61.36 Bn in 2023 and is expected to exhibit a CAGR of 27.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Development of sustainable and recyclable self-heating food packaging materials is an important trend in the market. Concerns over usage of non-biodegradable materials are prompting research into eco-friendly alternatives like edible films and plant-based materials that can serve both as food packaging as well as the heating substrate. Companies are working on advanced technologies to incorporate self-heating capabilities while ensuring packages are recyclable and cause minimal waste. This focus on sustainability will drive innovation and growth within the self-heating food packaging industry over the forecast period.
Porter’s Analysis

Threat of new entrants: Low, as significant capital investment is required along with established supply chains and distribution channels.

Bargaining power of buyers: Moderate, as there are a few global players operating in the market. However, the buyers have various substitutes available.

Bargaining power of suppliers: Moderate, as raw materials including phase change materials are specialty chemicals requiring technical expertise from few global suppliers.

Threat of new substitutes: High, as convenience food and beverages not requiring heating provide competition.

Competitive rivalry: High, as the major players compete on product quality, innovation, and pricing.

Key Takeaways

The global Self-Heating Food Packaging Market Growth is expected to witness high growth. The North America region currently dominates the market owing to high demand for convenient packaged food products. Key players operating in the self-heating food packaging market are 42 Degrees Company, ScaldoPack, Heat Food & Drink Ltd, Luxfer Magtech Inc., HeatGen, LLC., LMK Thermosafe, Kemira Inc, Ontech operations Inc., Com-Pac International.

Regional analysis The Europe region is expected to grow at a rapid pace during the forecast period due to increasing demand for packaged ready-to-eat meals.

Key players related content Key players operating in the self-heating food packaging market are 42 Degrees Company, ScaldoPack, Heat Food & Drink Ltd, Luxfer Magtech Inc., HeatGen, LLC., LMK Thermosafe, Kemira Inc, Ontech operations Inc., Com-Pac International. 42 Degrees Company offers a wide range of self-heating packaged food products.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it