A novel report on global Dairy Packaging Market has been recently published by Reports and Data that provides a comprehensive overview of the Dairy Packaging industry with current and emerging market trends. The report aims at proving precise market information such as market trends, market size, market revenue growth, drivers, restraints, growth opportunities to the viewers, investors. The report also sheds light on top companies in the global Dairy Packaging market along with market segmentations such as product type, application and regional bifurcation.
According to Reports and Data, the global Dairy Packaging Market size was USD 70.30 billion in 2020 and is expected to reach USD 103.66 billion 2028 and register a revenue CAGR of 6.6% during the forecast period. The global dairy packaging market is being driven by increased disposable income and rising customer demand for dairy products. Increased adoption of dairy-based packaging around the world has been caused by increased availability of packaged dairy products through various retailing channels due to rising population and increasing consumer preference for protein-based goods. The popularity of smaller multipacks is growing, as is customer desire for yoghurt, ice cream, butter, and other foods, all of which are driving up packaging demand. Furthermore, manufacturers are concentrating their efforts on gaining a significant share of the global market by offering best-in-class international export and local production capabilities.
Due to the increase in awareness of people across the globe about the benefits of proper packaging, this industry requirement has been given a boost. The more the economies develop across the world, the more the per capita income earned, ultimately resulting in demand for sophistication and hygiene. Thus, there are a lot of factors that are working as drivers of the packaging ecosystem.
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Major companies in the market include Bihai, Weyerhaeuser, Xinju Feng Pack, Jielong Yongfa, International Paper, Skylong, Ecolean, Coesia IPI, Serac, Teta Laval, SIG Combibloc, Elopak, Amcor, Greatview, Qingdao Likang Packing, Stora Enso, Nippon Paper Group.
Some Key Highlights from the Report:
- The sector is segmented into bottles, cups, pouches, cans, cartons, and boxes based on kind. Plastic is widely used in packaging because of its many advantages, including its durability and ability to withstand humidity. Plastics now make up more than 50.0 percent of all packaging. Pouches and Bottles had the greatest market share, accounting for roughly 41.0 percent of overall market share in 2020.
- On the basis of application, the industry is segmented as cream, cheese, ice cream, yoghurt and cultured products, milk, butter, and others. On a global scale, the milk segment holds the highest proportion among these segments. Milk is has been an inseparable part of diets around the world. It contains a significant amount of protein as well as vital elements like Vitamin D, calcium, potassium, and B vitamins. Drinking milk and dairy products has also been shown in numerous trials to help prevent bone fractures and osteoporosis.
- Due to its large consumption and production of milk and its products, the Asia-Pacific region is expected to hold the largest revenue share in terms of region. Asia-Pacific accounts for over half of worldwide dairy trade. Increasing technical improvements, as well as a growing inclination for healthy meals, are the primary drivers of market demand.
- In 2020, North America held a large proportion of the global market. The popularity of flavoured milk, as well as the increasing number of dairy replacement products like as almond, coconut, and soy milk, are the key drivers of this industry’s growth in this region.
- In October 2021, the Australian Packaging Covenant Organization (APCO) recently launched the Australian Dairy Sustainable Packaging Roadmap with a target of 100 per cent reusable, recyclable or compostable packaging by 2025.
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For the purpose of this report, Reports and Data has segmented the global dairy packaging market based on type, application, and region:
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Type Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Carton & Boxes
Application Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Yogurt and cultured product
- Ice Cream
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Identifying The Basic Business Drivers, Challenges, And Tactics Adopted:
- The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Dairy Packaging market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
- An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
- Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
- The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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