Dairy Packaging Market Growth Predicted for 2020-2030
In its latest report, Future Market Insights has estimated steady growth in the dairy product packaging market for the period of assessment between the years 2020 and 2030. Widespread milk consumption on a global scale, applications of dairy products in the food and beverage sector, and strict food safety regulations are aiding growth.
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The growing awareness about the importance of packaging in the dairy industry to minimize the risk of adulteration and contamination is a key driver. Also, logistics and transport requirements and roles in boosting shelf-life is positively influencing growth prospects.
Demand for smaller-portion packaging options coupled with higher disposable incomes and standards of living have significantly bolstered demand. Research into eco-friendly packaging solutions are likely to benefit the industry in the long-term.
Key Takeaways of the Dairy Products Packaging Market Report
- Flexible packaging formats are expected to display fast growth on the back of logistics benefits provided to dairy producers, particularly in developing economies.
- Paper and paperboard materials are likely to reflect high demand with applications in Tetra Pak formats and benefits of printing substrate.
- Packaging for milk will remain the key revenue contributor in the industry, owing to higher consumption by a health-conscious consumer base.
- North America is a the leading market aided by a massive milk production sector, and high consumption of cheese, yogurt, and flavored milk products.
“Dairy packaging has transitioned from glass bottles to polyethylene pouches, paper cartons, and tins, to tetra packs and aluminum cans. The growing demand and distribution of dairy products through organized and robust retail supply chain channels has also bolstered the demand for dairy product packaging on a global scale,” says an FMI analyst.
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Covid-19 Impact Analysis
The covid-19 pandemic has had adverse effect on the global dairy product packaging market. Widespread lockdown restrictions have hurt supply chains in the dairy industry, which has resulted in large-scale wastage of milk resources in many parts of the world. This in turn has hurt short-term demand for packaging.
Also, the food service industry has faced severe restrictions, cutting into the demand for dairy products, consequently affecting the dairy product packaging industry. Furthermore, the demand for dairy-based desserts, yogurt, and ice-cream has fallen sharply during the pandemic, limiting packaging supply chains. The recovery of the market will be gradual as concerns over the economic ramifications of the pandemic remain uncertain.
Who is Winning?
Leading players in the dairy product packaging market include but are not limited to Mondi Group, WestRock Company, CKS Packaging, Sealed Air Corporation, Nampak Ltd., Saint-Gobain S.A., Ahlstrom, Airlite Plastics, Saudi Basic Industries Corporation, ELOPAK, Rexam, and Clondalkin Group Holdings.
Market leaders are largely focused on investments into product research, especially in exploring the new materials with objective of functionality, and sustainability. Adoption of eco-friendly materials and formats, and efforts towards aesthetics will remain important for market players through the assessment period.
In November 2020, Greiner unveiled its range of packaging for dairy products made from recycled PET. Norway-based dairy producer TINE has launched sustainable packaging solutions to cut annual plastic consumption by 700 tons, with a research initiative on fiber-based solutions. M&S has unveiled its Innovation Hub to research on plastic-free packaging materials, for varied commodities including dairy products.
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Further Insights on the Dairy Products Packaging Market
In a new report by Future Market Insights, readers are provided with a comprehensive, and unbiased analysis of the global dairy products packaging market, including historical data for the years 2015 – 2019 and forecast data between 2020 and 2030.
Information has been provided on the basis of type (bags & wraps, bottles, cans, cartons & boxes, cups, films & wraps, pouches, tubes, and others), application (milk, cheese, frozen products, yogurt, cream, butter and ghee, ice-cream, cultured products, and others), material (glass, metal, paperboard & paper, plastic, and others), and distribution channels (e-commerce, specialty retailers, supermarkets & hypermarkets, and others) across six key regions.
Explore wide-ranging Coverage of FMI’s Packaging Market Insights Landscape
Molded Fiber Pulp Packaging Market – is estimated to register year-on-year (YoY) growth of 4.4% in 2021, reaching a total volume of 3 Mn Tons. The global sales of molded fiber pulp packaging are expected to grow by 4.8% in 2021 surpassing US$ 7.7 Bn. The overall ten-year compound annual growth rate (CAGR) remains positive at 5.1%.
Flexible Plastic Packaging Market – The global sales of flexible plastic packaging are expected to exhibit 4.9% year-on-year growth rate in 2021 with sales reaching over 33.6 million tons. Future Market Insights projects flexible plastic packaging market to grow at 5% CAGR between 2021 and 2031
Paper Cups Market – Driven by growing emphasis on better consumer experience, the paper cups market saw steady growth rate of 4.5% CAGR between 2021 and 2031, reaching valuation of around US$ 9210 million by the end of the year. Future Market Insights (FMI) estimates that paper cups revenues grew by 4.3%year-on-year in 2021
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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