Press release
Products Packaging Market to Record Revenue to the Tune of over US$ 14 Bn by 2027 End
Growth in the Packaging Industry Coupled with a Growing Dairy Industry to Fuel the Adoption of Packaging Solutions for Dairy Products
According to the research, the global packaging industry was valued at about US$ 880 Bn in 2016. The main trends impacting the growth of the packaging industry is the increasing focus on wellness of consumers. Among various types of packaging, flexible and rigid packaging are gaining high steam. The application of packaging in various end use industries has been on the rise since past years. Among the end use industries and respective applications, the food and dairy products sector has shown high inclination towards use of packaging solutions and also accounted for a higher market share in the overall packaging sector. The growth in the dairy industry across regions around the globe is expected to create significant demand for packaging of dairy products for the purpose of distribution and storage, thus fuelling the growth of the global dairy products packaging market.
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FMI Recommends Key Players to Focus on the Markets in Asia Pacific Excluding Japan
Asia Pacific excluding Japan (APEJ) has been a lucrative region for the growth of the packaging industry as a whole. With respect to dairy products, this region has been at the forefront since several years. The APEJ region is anticipated to reflect maximum growth in the market for packaging of dairy products owing to increasing consumption of dairy products across countries in this region. China and India are the major growth pockets for the dairy products packaging market, with China leading the market in APEJ. Moreover, there has been an increasing the 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 products packaging market in APEJ is projected to expand at a high value CAGR of 6.4% throughout the period of assessment.
“We expect the global market for dairy products packaging to grow at the rate of 4.5% during the 2017-2027 timeline with growth largely driven by milk and yogurt packaging products.”
––– Research Specialist – Packaging, Future Market Insights
Growing Demand for Aseptic Packaging in the Dairy Industry to Drive Global Market Growth
Aseptic packaging enhances the shelf-life of several dairy products, both solid and liquid. Consumers are focusing on healthy lifestyle along with food safety. Growing focus on food safety has compelled manufacturers of dairy products to use healthy packaging formats. This has spurred the use of aseptic packaging. Aseptic packaging formats include pouches, liquid cartons, bottles, cups, 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.
Competition Analysis
The research report covers analysis of various key players involved in the packaging of dairy products. Key companies such as Amcor Limited, Sealed Air Corp., Tetra Pak ITC Ltd., Greiner Packaging GmbH, General Films, Inc., RPC Group Plc., KOROZO Ambalaj San. Ve Tic. A.S., Sonoco Products Company, Bemis Company, DS Smith Plc., Smurfit Kappa Group PLC, Huhtamaki Oyj, Schur Flexibles Holding GesmbH, Stora Enso Oyj, Berry Global Group, Inc., Constantia Flexibles GmbH, Winpak Ltd., and Uflex Ltd., are profiled in this research report.
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