The latest report by IMARC Group, titled “Dairy Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global dairy packaging market reached a value of more than US$ 21 Billion in 2016. The primary purpose of packaging is to provide dairy products to the consumer in perfect condition which are prone to spoilage on prolonged exposure to atmosphere. It plays an important role in avoiding enormous wastage or contamination of dairy products, and serves as a barrier to protect them against biological, chemical and distribution damages. Over the years, new packaging technologies such as cans, glass bottles, sachets, tetra packs, etc. have evolved in the industry to facilitate easy storage and transportation of dairy products.
Highlights of the global dairy packaging market:
- The development of highly efficient packaging solutions represents the key growth-inducing factor.
- Flexible plastic represents the most popular packaging material, holding the majority of the total market share.
- North America is the leading market, accounting for the largest share globally.
The global dairy packaging market is driven by the demand for convenient and informational packaging which provides ingredient information, instructions for use, features and benefits along with customer service information. Moreover, growing awareness about the high-nutritional value of dairy products and a surge in their consumption, particularly among the health-conscious consumers, have fuelled the market growth globally. Nowadays, manufacturers have adopted the usage biodegradable plastic, which is easily decomposable and environment friendly. This has, in turn, provided a positive thrust to the market. Some of the other factors contributing to the market growth include rising disposable incomes, improving standards of living, and rapid urbanisation. Owing to the aforementioned factors, the market is anticipated to reach a value of around US$ 30 Billion by 2022, growing at a CAGR of more than 3% during 2017-2022.
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On the basis of packaging material, the market is segmented into flexible plastics, rigid plastic, paper and paper board, glass, metal and others. Currently, flexible plastic is the most popular packaging material, accounting for the majority of the total market share. On the basis of packaging type, the market is segmented into single pack and multi pack. Further, the market is segregated on the basis of application including milk, cheese, frozen products, cultured products and others. Among these, milk accounts for the largest share. Region-wise, North America represents the leading market, followed by Europe and Asia-Pacific. Other major regions include the Middle East and Africa, and Latin America. On evaluating the competitive landscape, it is found that Ball Corporation, Mondi, Bemis Company, Inc., Rexam, and RPC Group are some of the key players operative in the market.
The report by IMARC Group has examined the global dairy packaging market on the basis of:
- Flexible Plastics
- Rigid Plastic
- Paper and Paper Board
- Single Pack
- Multi Pack
- Frozen Product
- Cultured Product
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Major Key Players:
- Ball Corporation
- Bemis Company, Inc.
- RPC Group
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Country: United States