The global dairy packaging market is expected to grow at a CAGR of 3% during the period2018-2024
NEW YORK, Sept. 2, 2019 /PRNewswire/ -- The global dairy packaging market is expected to grow at a CAGR of 3% during the period2018-2024
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The introduction of nanotechnology-based food packaging is expected to be a significant driver for the dairy packaging market. Advancements and innovations in the field of nanotechnology are likely to enhance the efficiency of dairy product packaging. The inclusion of active and intelligent ingredients, which include several antioxidants, in packaging material is helping to extend the shelf life of dairy products. Therefore, the incorporation of these intelligent ingredients is likely to drive the dairy products packaging market during the forecast period. The dairy packaging market is witnessing a significant shift from rigid to flexible packaging. The modification in the flexible packaging material can be attributed to the following factors:
• Reduced raw material cost
• Decreased production expenditure
• Low transportation spending
Further, the emergence of the e-commerce sector worldwide is expected to accelerate the flexible packaging market. Also, pouch packaging is gaining momentum among end-users in the dairy packaging market.
The following factors are likely to contribute to the growth of the global dairy packaging market during the forecast period:
• Growth of flexible packaging in dairy categories
• Increase in pouch packaging across among end-users
• The shift from rigid to flexible packaging
• Increased usage of active and intelligent packaging material
This market research report on the dairy packaging market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by packaging (rigid, flexible, and paperboard), products (liquid carton, pouches, bottles, jars, and cans, and others), application (milk, cheese, butter and cream, and others), and geography (Europe, APAC, North America, Latin America, and MEA).
The study considers the present scenario of the dairy packaging market and its market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply sides of the market. IT also profiles and examines leading companies and other prominent companies operating in the dairy packaging market..
Dairy Packaging Market: Segmentation
This market research report includes a detailed market segmentation by packaging, products, applications, and geography. The easy availability of plastic as a raw material in the production of pouches is one of the reasons for the wide usage of flexible plastic in dairy packaging. Milk is the largest end-user for the flexible packaging market. Further, the replacement of strong rigid plastic packaging of dairy products with multi-layer flexible pouches is expected to augur well for the flexible packaging market. The rise of the middle-class population in emerging countries is expected to offer ample opportunities for dairy product packaging vendors during the forecast period.
Paperboard packaging for liquid dairy products is growing fastest across regions, with China leading the pack in the APAC region. With premiumization of liquid dairy growing, the need for aseptic liquid cartons is expected to increase significantly. In addition, the growth momentum for categories such as flavored milk, lactose-free liquid products, high nutritional value dairy products is expected to have a positive influence on the overall dairy packaging market.
The availability of pouch making machinery and raw materials is a major factor for the high adoption of flexible pouches in the dairy product packaging market. APAC and Europe are the major end-users of pouches. The market for liquid cartons is expected to grow rapidly during the forecast period as aseptic packaging is gaining importance in extending the shelf life of liquid dairy products.
The growth in population, the increase in disposable incomes, and rapid urbanization are expected to bode well for the milk packaging market during the forecast period. The cheese packaging segment in Europe is expected to grow as the European Union dominates the cheese market. Parchment paper, foil laminates, cellophane, wax coated paper, cardboard boxes, and lacquered tin cans are majorly used for packaging of butter and creams. The packaging of butter and cream is expected to gain prominence during the forecast period as these products are considered natural and healthy.
Market Segmentation by Packaging
• Rigid
• Flexible
• Paperboard
Market Segmentation by Products
• Liquid Carton
• Pouches
• Bottles, Jars, and Cans
• Others
Market Segmentation by Applications
• Milk
• Cheese
• Butter and Creams
• Others
Dairy Packaging Market: Geography
Europe and North America held over 50% of the dairy packaging market. The APAC market is largely volume-based with dairy products witnessing high demand. Australia, Japan, China, Germany, France, the US, and Canada are the major dairy packaging market as their spend on F&B and dairy products is relatively high. The diversity of flexible packaging allows the packaging industry to withstand raw material, pricing, and cost pressures. The flexible packaging market in Latin America is expected to witness growth during the forecast period on account of the large middle-class population with increased disposable income.
Market Segmentation by Geography
• Europe
o France
o Germany
o Italy
o Spain
o UK
• APAC
o Australia
o China
o India
o Japan
o South Korea
• North America
o US
o Canada
• Latin America
o Brazil
o Chile
o Mexico
o Argentina
• MEA
o Egypt
o Saudi Arabia
o South Africa
o Turkey
Key Vendor Analysis
The dairy packaging market is witnessing high competition among vendors. The competition is based on factors, including competitive pricing, product quality, and innovative packaging. Many vendors are shifting to sustainable and biodegradable packaging materials. Stringent regulations are changing the dairy packaging market dramatically. The limit on the use of single-use plastics is driving the market toward eco-friendly and sustainable packaging. The European Commission proposal for the single-use plastics directive (SUP) has increased the focus on substituting plastic packaging. Price fluctuations in raw materials of packaging have an adverse impact on the profit margins of vendors.
Key Vendors
• Mondi
• Huhtamaki
• Tetra Pak
• Berry Global
• Elopak
• Amcor
Other prominent vendors
• Aptar
• Ball Corp.
• Clondalkin
• Constantia Flexibles
• Crown Holdings
• DS Smith
• Ecolean, Aran Packaging
• Evergreen Packaging
• Great view Aseptic Packaging
• Greiner Packaging
• International Paper
• IPI
• Nampak
• RPC Group
• SIG Combibloc
• Smurfit Kappa
• Sonoco, Sealed Air
• Stora Enso
• TC Transcontinental
• Uflex
• Winpak
Key Market Insights
The report provides the following insights into the dairy product packaging market for the forecast period 2019–2024.
• Offers market sizing and growth prospects of the dairy product packaging market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the dairy packaging market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the dairy packaging market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the dairy packaging market.
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