MarketResearchReports.Biz presents this most up-to-date research on " Global Dairy Packaging Market 2016-2020 "
A new study on the global market for dairy packaging has recently been added to the vast repository of MarketResearchReports.biz. The research report, titled “Global Dairy Packaging Market 2016-2020,” presents a comprehensive assessment of this market on the basis of the current well as imminent market trends.
According to the study, the global dairy packaging market is projected to expand at a CAGR of 4.06% during the period from 2016 to 2020 and cross the US$26-bn mark by the end of the forecast period. The increasing preference for packaged dairy products across the world is expected to fuel the demand for dairy packaging materials, propelling the market in the coming years.
In this report, the global market for dairy packaging has been studied on the basis of the material and application of dairy packaging products. By material, the market has been segmented into rigid plastic, flexible plastic, glass, paper and paperboard, and metal.
The flexible plastic segment leads the worldwide market. In 2015, it accounted for a share of 27% in the overall market. The benefits offered by flexible plastic, such as cost efficiency, decrement in landfill waste, and the low amount of energy needed in the production of flexible plastic packaging products are fueling its demand significantly, states the research report.
Based on application, the global dairy packaging market has been classified into cheese packaging, milk packaging, cultured products packaging, and frozen products packaging. The milk packaging segment dominates the global market. It held more than 34% of the overall market in 2015.
The segment is expected to maintain its dominance during the forecast period. The increased consumption of ultra-high temperature (UHT) milk, flavored milk, Laban (yogurt drink), and different varieties of cheese are likely to boost the application of dairy packaging products in this market segment in the coming years, notes the study.
The report also presents an analysis of the performance of the dairy packaging market in various regions, namely Asia Pacific, Europe, North America, and the Rest of the World. North America emerged as the market leader in 2015, accounting for more than 30% of the overall revenue generated in the global market.
The growing preference among consumers for packaged food and beverages, the rapid increase in the retail network, the rise of major industries, and the rising population are propelling the North America market for dairy packaging.
As per the study, the worldwide market for dairy packaging is highly competitive and fragmented in nature. Tetra Laval, Bemis, RPC Group, Amcor, and Mondi Group are the leading companies in this market. Other prominent market players profiled in this study are Ahlstrom, Allied Glass Containers, Blue Ridge Paper Products, Clondalkin Group Holdings, Essel Propack, Global Closure Systems, MeadWestvaco, Printpack, and Vacumet.