Global Dairy Packaging Market Estimated To Advance At A CAGR Of About 5.28% During 2020–2026 – ZMR

Global dairy packaging market will register a CAGR of over 5.28% during the period from 2020 to 2026.

New York, United States - November 2, 2020 /MarketersMedia/ —

According to analysts at Zion Market Research, the global dairy packaging market size was projected at USD 66.56 billion in 2019 and is anticipated to augment at a CAGR of about 5.28% during the forecast period. The surging consumption of dairy items due to the surging awareness concerning a healthy standard of living is boosting product sales. The augmenting inclination toward sustainable and environmentally friendly products is expected to positively persuade the product demand. The implementation of packaged food items is comparatively greater mainly amongst the younger generation. In addition, the surging health issues due to malnutrition have intensified the scope for dairy packaging materials.

Some of the key manufacturers in the market are Berry Global Group, Inc.; Huhtamaki; Amcor Limited; Bemis Company Inc.; Tetra Pak International S.A.; Ball Corporation; WestRock Company; Sealed Air Corporation; Nampak Ltd.; and Mondi Group. The leading players target product novelty as a result of an innovative product that helps to gain a major market share at a global level. The novel product launches aid in keeping the consumer interest lively owing to the surging preference for sustainable products in mainstream regions.

Development In The Milk Processing Technology To Boost The Global Dairy Packaging Market

Around the world, milk is the most consumed dairy product. The higher content of minerals and moisture present in the milk makes it quite difficult for the suppliers to stock up it for a longer time period. This is one of the main motives for milk being marketed as processed milk or milk powder. With the existing milk processing technology, the liquid milk packaged in a bottle has a durability of 10–21 days when stored at 4–8°C. With the development of methods such as UHT (ultra-high temperature) treatment of milk, the lifespan of packaged milk is further prolonged for a year, without refrigeration. In the last four years, a trend of local production, particularly in the Asia Pacific region has been reported. In countries, such as India, in spite of being accountable for about 16% of the global milk production, there is a substantial difference in demand and supply. With the surged milk production at a global scale, the packaging solutions will also see an augmented demand, which will impel the market forward.

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The global dairy packaging market is bifurcated on the basis of raw material, application, product, and regional analysis. Based on the raw material, the market is divided into paper & paperboard, plastic, metal, and glass. Based on the application, the market is divided into cheese, milk, yogurt, and others. Based on the product, the market is divided into flexible and rigid.

The North America Region Predicted To Witness Massive Growth In The Global Dairy Packaging Market

Based on the geographical analysis, the global dairy packaging market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The North America region held a major market share of 34.12% in 2019. The region is projected to witness the surged consumption of dairy products like flavored low-fat yogurt and flavored milk. The U.S. is the chief milk producing country and is witnessing pitch in the intake of cheese; mainly Italian varieties like parmesan, mozzarella, and provolone. The augmenting consumer inclination for convenient foods like macaroni, pizza, and cheese, and packaged cheese slices is likely to stimulate the domestic demand for dairy packaging.

The global dairy packaging market is segmented as follows:

By raw material:

Plastic
Metal
Glass
Paper & Paperboard

By application:

Cheese
Yogurt
Milk
Others

By product:

Flexible
Rigid

By region:

North America
The U.S.
Canada

Europe
France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific

Latin America
Brazil
Mexico
Rest of Latin America

Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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