Dairy Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Dairy Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The dairy packaging market was valued at USD 21.51 billion in 2020 and is expected to reach USD 28.08 billion by 2026 and grow at a CAGR of 4.61% over the forecast period (2021 - 2026). The growing culture of healthy snacking, higher consumption of ready-to-eat foods, and the rise in online and mobile shopping are altering how food is purchased and consumed. This, coupled with the changing consumer lifestyles to more health-conscious eating, is expected to impact the market.

Key Highlights

• The increasing availability of packaged dairy products through various retailing channels owing to the rising population and changing diets coupled with an increasing consumer preference toward protein-based products is expected to increase the adoption of dairy-based products across the world, driving the market forward.
• The growing focus of the dairy manufacturers on capturing a share in the global dairy trade through best-in-class international export and local production capabilities has fueled the demand for better dairy-based packaging solutions.
• The primary factor behind the expansion of sales of dairy products is the different types of packaging available nowadays. For instance, earlier milk was available only in gable-topped cartons. Still, milk is delivered in portable, brand-friendly PET bottles, which is an attractive option for increasingly busy consumers.

Key Market TrendsMilk Occupies the Largest Market Share

• Milk is the most consumed dairy product across the globe. The high content of moisture and minerals present in the milk makes it very challenging for the vendors to store it for a longer period of time. This is one of the major reasons for milk being traded as milk powder or processed milk.
• With the current milk processing technology, liquid milk packed in a bottle has a shelf-life between 10 to 21 days when stored at 4-8°C. With the emergence of processes like UHT (Ultra High Temperature) treatment of milk, the shelf life of packaged milk is further extended up to a year without refrigeration.
• In the past four years, there has been a trend of encouraging local production, especially in the Asia Pacific region. Despite being responsible for almost 16% of the global milk production in countries like India, there is a considerable difference in supply and demand.
• With the increased milk production on a global scale, packaging solutions will also witness an increased demand, which will drive the market forward.

North America Occupies the Largest Market Share

• The North American region occupies the largest share in the global dairy packaging market due to the increased production and sale of dairy products, such as milk, cheese, and yogurt. Over the past few years, the consumption of dairy products in the United States has increased, especially cheese, parmesan, provolone, and mozzarella, which is likely to boost the dairy packaging market in the country.
• The rapidly changing consumer preferences towards packaged food and changing economic scenarios are significantly affecting the US dairy packaging market. Considerable expansion of dairy product portfolio, primarily into sports nutrition, along with an increasing number of casual users, is expected to drive the market further.
• Moreover, the increasing popularity of yogurt in PET bottles than thin wall plastic containers is compelling the manufacturers to focus on new packaging for the product. This is expected to fuel the dairy product packaging market over the forecast period.

Competitive Landscape

The dairy packaging market is highly competitive, owing to the presence of several major players in the market. The market appears to be moderately concentrated. With innovative and sustainable packaging, many companies are increasing their market presence by securing new contracts and tapping new markets. Some of the major players in the market are Berry Global Group, Inc., Sealed Air Corporation, Amcor plc, Ball Corporation, among others.

• June 2021 – Huhtamaki announced the completion of an asset acquisition of Chinese company Jiangsu Hihio-Art Packaging Co. Ltd. This acquisition helps Huhtamaki strengthen its position in providing food service packagings like folding cartons, paper bags, and wraps in the Asian market.
• January 2021 - Ball Corporation announced the plans to build a new facility in Bowling Green, Kentucky, to produce and manufacture new aluminum packaging products. This facility will help to produce lightweight, and recyclable aluminum ends for various customers.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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