World Dairy Packaging Market was worth USD 20.57 billion in 2019 and is estimated to register a CAGR of 4.61% during the forecast period. The growing culture of healthy snacking, higher consumption of ready-to-eat foods, and the increase in online and mobile shopping is altering the way food is being purchased and consumed. This, together with the changing customer lifestyles to more health-conscious eating, is estimated to reinforce the market.
Market drivers and restraints:
Many health & nutritional advantages related to the use of packaging materials have boosted the demand for dairy products in recent years, which is estimated to drive the global market throughout the forecast period. The key restraining factors of the dairy food packaging market are compliance for product safety, increasing price of raw material, sanitation and worker safety. Nevertheless, usage information on the packaging can dissuade a buyer from buying, which is one of the firsthand disadvantages for dairy packaging.
Report segmented as:
- Frozen products
- Cultured dairy products
The world Dairy packaging market is segmented across North America, Europe, Asia- Pacific, Latin America and the Middle East and Africa. Asia-Pacific is likely to exhibit the highest CAGR in the dairy packaging market throughout the forecast period due to the growing R&D facility. Rising countries like China and India are estimated to lead this growth trend in Asia-Pacific.
Brazil is estimated to drive the dairy packaging market by 2021 in Latin America because of increasing customer consciousness regarding the advantages of health drinks and their packaging types and material used. North America and Western Europe are the major markets for dairy packaging but are likely to witness sluggish growth by 2021.
Important market players:
Some of the major companies in world dairy product packaging market are Amcor Limited, Aloca Inc., Ball Corporation, DuPont(EI) de Nemours, Reynolds Group Holdings Limited, Inc, saint- Gobain S.A., Tetra Laval International S.A. to name a few.
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This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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