Global Dairy Packaging Market: Size, Share, Growth, Trends And Forecast 2018-2023
This can be attributed to various factors such as changing dietary habits, increasing consumption of packaged food and innovative packaging by manufacturers.
Packaging plays an important role in the distribution of dairy products as they are perishable in nature. Manufacturers have to make sure that these products reach the end-consumer in proper condition. Moreover, dairy packaging acts as a barrier to protect the products against distribution, chemical and biological damages. Over the years, various packaging technologies have been developed according to the requirements and convenience of customers, ranging from tetra packs and sachets to glass bottles. A new research report by IMARC Group, titled “Dairy Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global dairy packaging market was worth US$ 21 Billion in 2017. The report further anticipates the market to cross US$ 26 Billion by 2023, at a projected CAGR of 3.5% over the forecast period.
Global Dairy Packaging Market Drivers/Constraints:
There has been a rapid rise in the demand for informational and convenient packaging which provides details about usage, features, benefits and ingredients added in the product. This is one of the major factors which is driving the growth of the global dairy packaging market.
Consumers have also become aware about the high nutritional value of dairy products which has resulted in a surge in their consumption, particularly among health-conscious consumers. This is, in turn, contributing towards an augmented demand for high quality dairy packaging across the globe.
Some of the factors which are positively influencing the growth of the market include adoption of biodegradable plastic by manufacturers, improved standards of living, rising disposable incomes as well as rapid urbanisation.
However, ensuring compliance of sanitation and product safety along with the rising prices of raw materials acts as a hindrance towards the growth of the market.
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Packaging Material Insights:
Dairy packaging is performed by using various materials some of which include flexible plastics, rigid plastic, paper and paper board, glass and metal. Amongst these, flexible plastics represent the largest segment.
Packaging Type Insights:
The market has been further segregated on the basis of packaging type which include single pack and multi pack.
Dairy packaging currently finds myriad applications which include milk, cheese, frozen product and cultured product. Milk dominates the market, accounting for the majority of the share. This is due to the rising consumption of different varieties of cheese as well as flavoured and UHT milk.
On a geographical front, North America represents the largest market for dairy packaging. This can be accredited to a significant rise in the consumption of packaged food across the region. North America is followed by Europe, Asia Pacific, Middle East and Africa, and Latin America.
The global dairy packaging market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
Bemis Company, Inc.
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