Global Dairy Packaging Market will grow at CAGR of 6.70 % to hit $ 37.64 Billion by 2026

Posted November 20, 2019 by ganesha

Global Dairy Packaging Market is expected to rise from its initial estimated value of USD 22.40 billion in 2018 to an estimated value of USD 37.64 billion by 2026

Global Dairy Packaging Market, By Materials (Glass, Paper & Paperboard, Plastic), Type (Bottles, Cans, Pouches Boxes), End-Use (Milk, Cheese, Butter, Frozen Products)

Market Analysis: Global Dairy Packaging Market
Global Dairy Packaging Market is expected to rise from its initial estimated value of USD 22.40 billion in 2018 to an estimated value of USD 37.64 billion by 2026, registering a CAGR of 6.70% in the forecast period of 2019-2026. The rising health concerns and preference for fresh foods among the customers are the major factors for the increasing demand for dairy packaging.

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Market Definition: Global Dairy Packaging Market
Packaging is an important factor in the distribution of dairy products as they provide protection, information like product content, procedure, and ingredient information. The main motive of the packaging is to provide the food to the consumer in good condition. Packaging protects food against chemical and biological damages. New packaging technologies have been developed as per the need and convenience of the consumers. Consumer preference towards protein- based product due to the rising availability of packed diary product through various retailing channel. By providing the best-in-class international export and local production capabilities, manufacturers are trying to capture the global market.

Market Drivers:
• Packaging help the customers to know about the product like their usage, features, benefits and ingredients used in it. Health Conscious consumers are aware about the high nutrition value of dairy product.
• Packaging helps the food to be fresh and increases its shelf life. Without packaging the food get exposed to air which can make it dry, grow mold or spoil.

Market Restraints:
• Food packaging increases the price of the food. Smaller packaging further increases packaging cost which manufacturer transfer to the consumer.
• Some plastics packaging can be harmful for the health. Plastics are full of toxins which can either cause cancer or can affect your reproductive system.

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Segmentation: Global Dairy Packaging Market
• By Material
o Glass
o Paper & Paperboard
o Plastics
• By Type
o Bottles
o Cans
o Pouches Boxes
• By End- Use
o Milk
o Cheese
o Butter
o Frozen Products

Key Developments in the Market:
In April 2018, Nestle committed that by 2025 they will be making 100 percent of packaging recyclable or usable. The company aims at eliminate non- recyclable plastics, encourage the use of plastic with better recycling rates, changing the complex packaging materials.
In November 2017, Berry Global Group, Inc. announced that they acquired Clopay Plastic Products Company, Inc., a subsidiary of Griffon Corporation for USD 475 million. The main motive is to optimize complementary production capacities, reduce production and conversion cost and serve better to their customers.

Competitive Analysis: Global Dairy Packaging Market
Global dairy packaging market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of dairy packaging market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

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Report Related
Global Returnable Packaging Market
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Tags dairy packaging market , dairy packaging market insights , dairy packaging market outlook , dairy packaging market share , dairy packaging market type
Last Updated November 20, 2019