Dairy Packaging Dry Milk Products Market Was Valued at USD 3,437.6 Million in 2021 Owing to Growing Demand for Metal Cans in the Diary Industry

According to the Precision Business Insights, the global dairy packaging dry milk products market is segmented by Packaging (Film Packaging, Paper Bags, FIBC/Big Bags, and Metal Cans), By Product (Dry Whole Milk, Skimmed Dry Milk, Dry Butter Milk, Dry Whey, and Others), and Geography - The global dairy packaging dry milk products market was valued at USD 3,437.6 million in 2021, growing at a high CAGR of 4.6 % over the forecast period (2022 to 2028) owing to growing adoption of eco-friendly packaging by the market players. For instance, Nestlé is working to make its packaging 100% recyclable or reusable by 2025, which will help in reducing the company's carbon footprints.

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Metal Cans Dominate the Dairy Packaging Dry Milk Products Market
Metal Cans accounted for 35.7% of the market and are expected to grow at a CAGR of 3.8% between 2022 and 2028. The segment is projected to be the largest revenue-generating segment over the forecast years owing to the high hardness of the metal cans, performance for anti-extrusion and moisture-proof, and ease of transport and storage. Moreover, metal cans are the commonly used infant milk powder packaging material. However, the cost of the metal cans packaging is high when compared to that of other packaging types.

Asia Pacific Leads Dairy Packaging Dry Milk Products Market
The Asia Pacific holds the market share of 31.7% in the Dairy Packaging Dry Milk Products market in the forecast period, and it is projected to grow at a CAGR of 3.9% in the coming years. Factors such as increasing demand for milk-based products, fast urbanization, increasing working population, increased consumption and manufacturing of milk powder products, and social media driving consumption of packaged and processed food are fuelling the market in this region. This dominance of the Asia Pacific region can be largely attributed to the changing lifestyle in the Asian countries, followed by globalization.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global dairy packaging dry milk products market further reveals that the key players increasingly adopting strategies such as the launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Feb, 2022, Tetra Pak launches the first Made in India holographic packaging with Warana Dairy.In September 2022, Huhtamaki completes the acquisition of Elif, a major supplier of sustainable flexible packaging to global brand owners. In 2022 Mondi Group completed the acquisition of Olmuksan (Turkey).

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Key players' profiles in the report are Tetra Pak International S.A., Huhtamaki, Sealed Air Corporation, Orora Packaging Australia Pty Ltd, Amcor Limited, Mondi Group, and NNZ Group.

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