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Global Dairy Packaging Market to Reach 26.9 Billion by 2024, Spurred by the Introduction of Eco-Friendly Variants

According to the latest report by IMARC Group, titled “Dairy Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global dairy packaging market size reached US$ 21.7 Billion in 2018. Efficient dairy packaging is crucial for providing protection against contamination and tampering of the product. It acts as a barrier against chemical, distribution and biological damages to ensure that the products reach end users in the optimal condition. It is also used to provide relevant information about the product, which includes ingredient list, nutritional value, manufacturing date, expiry date and directions for usage. Some of the most common packaging types of dairy products are cups, tubs, cans and sachets. As numerous dairy products, such as milk, cream, milkshakes and cheese, are highly perishable in nature. Therefore, high-quality packaging solutions are adopted by manufacturers to lengthen the products’ shelf life.

Global Dairy Packaging Market Trends:

The growing health consciousness among consumers has led them to incorporate protein-rich food products in their diets, which is primarily driving the sales of dairy products across the globe. This, along with the rising preference toward fresh dairy products and inflating income levels, is augmenting the demand for high-quality dairy packaging across the globe. Moreover, airtight packaging materials are widely adopted by manufacturers for packing ice creams and frozen desserts as they can be stored in freezers for several months without affecting the flavor or texture of the product. In addition to this, several manufacturers are continually engaging in research and development (R&D) activities to introduce eco-friendly variants in the market owing to the rising consumer preference toward sustainable development. For instance, Stanpac, an Ontario-based packaging manufacturing company, manufactures completely recyclable paperboard containers made from sustainable sawdust from the lumber industry. On account of the aforementioned factors, the market is expected to reach a value of US$ 26.9 Billion by 2024, expanding at a CAGR of 3.7% during 2019-2024.

Market Summary:

  • Based on the packaging material, the market has been divided into flexible plastic, rigid plastic, paper and paper board, glass, metal, and others. Amongst these, flexible plastic is the most preferred packaging material in the market.
  • On the basis of the packaging type, the market has been bifurcated into single- and multi-pack, wherein single-pack exhibits a clear dominance in the market.
  • Based on the product type, liquid cartons account for the majority of the total market share. Other major segments include bottles and jars, pouches, cans, and cups and tubes.
  • On the basis of the application, milk represents the largest segment in the market. Other major segments include cheese, cream, butter and ghee, yogurt, and ice-cream.
  • On the geographical front, North America holds the leading position in the market. Some of the other key regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been examined with the detailed profiles of the key operating in the market. Some of them include Ball Corporation, Mondi plc, Bemis Company, Inc., and RPC Group Ltd.

 


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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

 

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