The global dairy packaging market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth include rising concerns about food safety and quality, changing consumer preferences toward protein-based products, and rising disposable income.
Packaging is a process of using containers and components to protect, carry, identify, and enable merchandising of products. Packaging solutions ensure the safety and hygiene of products as well as allow companies to differentiate their products from those of competitors. Due to the short shelf life of dairy products, packaging is a critical aspect involved in distribution. Packaging that is both functional and efficient reduces contamination and aids in efficient storage and transportation.
Dairy packaging is designed to reduce the impact of changing temperatures, while also protecting food from physical damage. The sustainable packaging industry is expanding at a significant pace, fueled by strong demand for dairy products and processed foods and beverages.
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Major Factors Driving Growth Of The Global Dairy Packaging Market:
Consumer lifestyles are evolving and a rising preference for a nutritious diet is a major factor expected to drive market growth. Rising population, high purchasing power, rising per capita income, the introduction of new dairy products, rising e-commerce sector, and high consumption of ready-to-eat foods are other factors expected to positively impact market growth. Dairy products are perishable, and as a result, suitable and effective packaging is required to make storage and transit easier.
Factors Restraining Growth Of The Global Dairy Packaging Market:
The global dairy packaging market growth is substantially hampered by the hazardous effects of plastic as well as poor methods of conservation. Lack of knowledge, non-compliance, and ineffective conservation strategies are factors expected to hinder market growth over the projection period. Price fluctuation of raw materials used in packaging is further expected to restrain the market growth. In addition to this, the implementation of stringent environmental policy is expected to slow down the growth of dairy products as dairy-related greenhouse-gas emissions account for a significant portion of overall emissions in some countries, and any changes in related policies could have an impact on dairy production.
Opportunities For Players Operating In The Global Dairy Packaging Market:
Tetra packs, glass bottles, clear tubs, and squeezable pouches are amthe ong creative and convenient packaging designs used by market players. To protect the contents from oxidation and postpone fading of light-sensitive colors, some vendors provide yogurt in PE-HD bottles sealed with aluminum foil, laminated heat-seal closures, or PE-LD caps or lids.
The rising population and increasing preference for protein-based foods present a lucrative opportunity for major companies to establish their market footing. Major players are engaging in various R&D activities to develop creative and technologically sophisticated product packaging to cater to the rising demand for dairy products packaging. All these factors play a vital role in providing growth opportunities for the market.
Global Dairy Packaging Market Revenue Led By Application:
Based on applications, the milk packaging segment is expected to hold the largest share during the forecast period. This is due to the increasing consumption of milk and milk-based drinks such as tea, coffee, hot chocolate, and protein shakes. Milk is a good source of calcium, good for bone health, and in its natural state is preferred by consumers as it provides important nutrients required to maintain a healthy diet. The shelf life of packaged milk is now prolonged up to a year without refrigeration on account of techniques such as ultra-high temperature treatment.