Monday, 07 December 2020 09:30 AM
Company Update
Market players are focusing increasingly on packaging aesthetics and product differentiation with an end goal of sustainability and functionality.
DUBAI, UAE / ACCESSWIRE / December 7, 2020 / Future Market Insights: As per FMI the global dairy product packaging market is estimated to record a steady growth throughout the assessment period, 2020-2030. The market growth is primarily attributed to widespread milk uptake on a worldwide level, usage of dairy products in the food & beverage sector, as well as stringent food safety regulations.
"Rising demand as well as distribution of dairy products through robust and organized retail supply chain channels has augmented the demand for dairy product packaging in the global market," says an FMI analyst.
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Dairy Products Packaging Market - Key Highlights
- Asian regions led by countries such as India and China generate sturdy demand due to extensive consumption of milk and milk products.
- Paper and paperboard materials will exhibit high demand throughout the forecast period.
- Milk application will remain the prominent revenue contributor in the market, due to increased uptake by a health-conscious consumer.
- Rigid packaging formats will account for maximum market share over the assessment period.
Dairy Products Packaging Market - Drivers
- Smaller portions packaging is anticipated to gains traction as well as will support long-term market growth.
- Sustainability initiatives in the global market boosts innovations, thus catalyzing market expansion.
- Growing trend for transparency in dairy packaging is driving the overall market growth, as players are focusing on packaging aesthetics and product differentiation.
- Transport and logistics needs and roles in increasing products shelf-life as well as positively prompting growth prospects.
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Dairy Products Packaging Market - Restraints
- Effect of recycling challenges related to dairy packaging products can hinder market growth.
- High operational cost of packaging can create bottlenecks for market players in the market.
COVID-19 Impact on the Market
The COVID-19 outbreak has adversely impacted the global market for dairy product packaging. Prevalent lockdown limitations have upset supply chains in the industry, which ensued in huge-scale wastage of milk resources in several parts of the globe. This consecutively has impacted short-term packaging demand.
Moreover, the demand for dairy-based ice-cream, yogurt, and desserts has dropped sharply amid the crisis, restraining packaging supply chains. The market recovery will be steady as concerns over the economic implications of the outbreak remain ambiguous.
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Competitive Landscape
Market players are investing into product research, particularly in discovering the new materials with end goal of sustainability, and functionality. Implementation of eco-friendly formats and materials, and endeavors towards aesthetics will remain significant for players over the projected period. Key players active in the global market include WestRock Company, Mondi Group, Bemis Company Inc., Sealed Air Corporation, CKS Packaging, Barry-Wehmiller Companies, Airlite Plastics, Nampak Ltd., ELOPAK, Saint-Gobain S.A., CLONDALKIN Group Holdings, Saudi Basic Industries Corporation, Evergreen Packaging, Stora Enso Oyj, Ahlstrom, Huhtamaki Group, Rexam, International Paper Company, , Tetra Pak and Consolidated Container Company LLC.
About the Study
The study offers readers a comprehensive assessment of the dairy products packaging market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (bags & wraps, bottles, cans, cartons & boxes, cups, films & wraps, pouches, tubes, and others), application (milk, cheese, frozen products, yogurt, cream, butter and ghee, ice-cream, cultured products, and others), material (glass, metal, paperboard & paper, plastic, and others), and distribution channels (e-commerce, specialty retailers, supermarkets & hypermarkets, and others) across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights
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