Dairy Packaging Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

By Author: Statzy Market Research
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The growing culture of healthy snacking, higher consumption of ready-to-eat foods, and the rise in online and mobile shopping is altering the way food is being purchased and consumed. This coupled with the changing consumer lifestyles to more health-conscious eating is expected to have an impact on the market.

- 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 product 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 solution.

- 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, but at present, milk is delivered in portable, brand-friendly ...
... PET bottles, which is an attractive option for increasingly busy consumers.

Key Market Trends

Milk 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. In countries, like India, despite being responsible for almost 16% of the global milk production, there is a considerable difference in supply and demand.

- With the increased milk production on a global scale, packaging solution 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 owing 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 scenario 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 of the companies are increasing their market presence by securing new contracts and by 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 2018 - Huhtamaki Group acquired Ajanta Packaging in India for USD 15.5 million in cash. The acquisition will help Huhtamaki in consolidating its position in pressure sensitive label business.

- June 2019 - Amcor announced the successful completion of its acquisition of Bemis Company Inc., The combined company will now operate as Amcor Plc (Amcor). The acquisition of Bemis brings additional scale, capabilities, and footprint that will strengthen Amcor's industry-leading value proposition and generate significant value for shareholders.

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