Dairy Products Packaging Poised to Grow at 4.5 Percent Rate Over 10 Years
March 20, 2018
The dairy products packaging market is expected to grow at a 4.5 percent rate between 2017 and 2027, according to market research firm Future Market Insights. This growth will be fueled by milk and yogurt specifically.
The industry was valued at about $880 billion in 2016.
The main trends impacting growth of the dairy packaging sector include increasing focus on consumer wellness.
“Among various types of packaging, flexible and rigid packaging are gaining high steam,” according to Future Market Insights.
Additionally, general growth in the dairy industry globally is expected to create significant demand for packaging for distribution and storage in the coming years.
Moving to regions, Asia Pacific, including Japan, has been a lucrative region for the sector. This region will remain the top producer of dairy packaging over the forecast period.
“China and India are the major growth pockets for the dairy products packaging market, with China leading the market in APEJ,” says Future Market Insights. “Moreover, there has been an increasing number of outlets across countries in Asia Pacific excluding Japan, which is another aspect contributing to the market’s growth in this region. The dairy product packaging market in APEJ is projected to expand at a high-value [compound annual growth rate] CAGR of 6.4 percent throughout the period of assessment.”
Aseptic packaging, which enhances the shelf life of solid and liquid dairy products, will also impact the growth of the industry.
“Consumers are focusing on healthy lifestyle along with food safety,” says Future Market. “This has spurred the use of aseptic packaging. Aseptic packaging formats include pouches, liquid cartons, bottles, cup, jars, composite cans, and metal cans. The increasing adoption of aseptic packaging for dairy products is expected to bode well for dairy products packaging market at a global level.”