At 4.3% CAGR, Global Dairy Products Packaging Market Size | Products & Application | 2022 - 2028 | to Massive Growth up to USD 38.23 Billion By 2028: Industry Share, Trends, Forecast Report by Zion Market Research
NEW YORK, March 29, 2022 /PRNewswire/ -- As per Zion Market Research study, The global dairy products packaging market was worth around USD 29.7 billion in 2021 and is estimated to grow to about USD 38.23 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.3% over the forecast period. The report analyzes the dairy products packaging market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
The dairy products packaging market is expected to see steady growth over the forecast period and is expected to see high demand for milk packaging on a global scale. Dairy packaging is essential for dairy products as these products are prone to contamination and are at risk of going bad so the demand for good and effective packaging solutions is high.
Zion Market Research published the latest report titled as "Dairy Products Packaging Market By Raw Material (Plastic, Paper & Paperboard, Glass, Metal), By Product (Rigid, Flexible), By Application (Milk, Cheese, Yogurt, Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
Dairy Products Packaging Market: Overview
The dairy products packaging market is expected to rise at a steady CAGR through the forecast period and plays a crucial in the global dairy products marketplace. Packaging is crucial in the dairy industry as it is a part of distribution and marketing as well, so the demand for a good packaging solution in the dairy industry is always high.
Rising consumption of dairy products, increasing demand for fresh products, rising international import and export activities, and the demand for antiseptic packaging to keep the products contamination-free are some major factors that could boost dairy products packaging market growth through 2028.
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Industry Dynamics:
Dairy Products Packaging Market: Growth Dynamics
Increasing demand from Growing Population
Dairy products have been an essential part of a healthy diet and hence have been a staple in meals across the world. As the population of the world increases so does the consumption of dairy products as well and this is projected to subsequently favor dairy products packaging market growth through 2028. Increasing awareness of health and fitness has spawned a demand for protein-rich dairy products and this trend is expected to be further bolstered over the forecast period. The dairy products packaging market is expected to rise at a steady pace through 2028 on the back of the aforementioned factors.
Dairy Products Packaging Market: Restraints
Regulations Against Use of Plastics in Packaging
Dairy product packaging consists of plastic, and this is a major environmental concern as waste management becomes a prime concern to combat the climate emergency that the world is facing. Governments across the world are implementing regulations to constrain the use of plastics in packaging to avoid harmful waste and reduce waste volume. Dairy products packaging companies are struggling to find alternatives to plastic and the ones that are available have a huge impact on profit margins and result in a drop in overall revenue potential. Strict regulations and necessary compliance are expected to restrain dairy products packaging market growth to a certain extent through 2028.
Global Dairy Products Packaging Market: Segmentation
The global dairy products packaging market is segregated based on raw material, product, application, and region.
By raw material, the market is divided into glass, paper & paperboard, plastic, metal, and others. The paperboard segment is expected to emerge as highly popular over the forecast period owing to its high recyclable potential and compliance with the new sustainability norm that is rising among consumers. The potential of increasing the shelf life is expected to drive demand for more sustainable dairy packaging solutions.
By Application, the dairy products packaging market is segmented into milk, cheese, yogurt, and others. Milk is the most popular dairy product and is consumed on a global scale, since its composition is highly nutrient-rich it is considered as one of the building blocks of a healthy diet. This is what makes milk the most popular dairy product and demand for packaging of this commodity has a dominant outlook in the dairy products packaging marketplace through 2028.
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Recent Developments
- In June 2021 – Huhtamaki a global food packaging giant announced the complete acquisition of Jiangsu Hihio-Art Packaging Co. Ltd. which will aid Huhtamaki to strengthen its position in the Asian market and propel sales of packaging solutions such as folding cartons, bags, paper wraps, etc.
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List of Key Players of Dairy Products Packaging Market:
- Huhtamaki
- Berry Global Group, Inc.
- Bemis Company Inc.
- Amcor Limited
- Ball Corporation
- Tetra Pak International S.A.
- Sealed Air Corporation
- WestRock Company
- Mondi Group
- Nampak Ltd.
Key Industry Insights & Finding of the Dairy Products Packaging Market Reports:
- As per the analysis shared by our research analyst, the Dairy Products Packaging Market is expected to grow annually at a CAGR of around 4.3% (2022-2028).
- Through the primary research, it was established that the Dairy Products Packaging Market was valued approximately USD 29.7 billion in 2021 and is projected to reach to roughly USD 38.23 billion by 2028.
- The market for dairy products packaging in the Asia Pacific region is projected to exhibit growth at the fastest CAGR through 2028.
Key questions answered in this report:
- What are the growth rate forecast and market size for Dairy Products Packaging Market?
- What are the key driving factors propelling the Dairy Products Packaging Market forward?
- What are the most important companies in the Dairy Products Packaging Market Industry?
- What segments does the Dairy Products Packaging Market cover?
- How can I receive a free copy of the Dairy Products Packaging Market sample report and company profiles?
Report Scope:
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Regional Dominance:
North America region leads the global dairy products packaging market in terms of revenue and volume share and is anticipated to maintain its dominant stance through the forecast period. Increasing production of dairy products in this region and rising sales of the same are expected to be major factors responsible for dairy products packaging market growth in this region. Increasing consumption of cheese and yogurt products is also predicted to boost dairy products packaging market growth through the forecast period.
The market for dairy products packaging in the Asia Pacific region is projected to exhibit growth at the fastest CAGR through 2028. The increasing consumption of dairy products by the rising population in nations of China, India, and Indonesia is expected to be a major factor propelling the dairy products packaging market growth in this region. The presence of key dairy product providers, increasing purchasing power, rising awareness about health and fitness are some other factors that guide dairy products packaging market growth through 2028.
Global Dairy Products Packaging Market is segmented as follows:
Dairy Products Packaging Market: By Raw Material Outlook (2022-2028)
- Plastic
- Paper & Paperboard
- Glass
- Metal
Dairy Products Packaging Market: By Product Outlook (2022-2028)
- Rigid
- Flexible
Dairy Products Packaging Market: By Application Outlook (2022-2028)
- Milk
- Cheese
- Yogurt
- Others
Dairy Products Packaging Market: By Region Outlook (2022-2028)
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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Browse Other Related Research Reports from Zion Market Research
- FMCG Packaging Market - Global Industry Analysis: The global FMCG packaging market was worth around USD 691.5 billion in 2021 and is estimated to grow to about USD 955.6 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.68 percent over the forecast period.
- Protective Packaging Market - Global Industry Analysis: The global protective packaging market was worth around USD 29.5 billion in 2021 and is estimated to grow to about USD 39.4 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.2 percent over the forecast period.
- Thermoform Packaging Market - Global Industry Analysis: The global thermoform packaging market is estimated for USD 42,547.1 Million in 2020 and is expected to reach USD 64,534 Million by 2028; growing at a CAGR of thermoform packaging market will be 5.20 % from 2021 to 2028.
Browse through Zion Market Research's coverage of the Global Packaging Industry
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