Global Dairy Products Packaging Market Share, Growth Analysis & Trends Forecasted during 2018-2027
The dairy product packaging sector is a lucrative one with a changing scenario across various regions around the globe.
[UKPRwire, Wed Dec 19 2018] A new report titled “Global Dairy Products Packaging Market Share, Growth Analysis & Trends Forecasted during 2018-2027” has been included in the enormous research repository of Market Research Reports Search Engine (MRRSE) that compiles various facets of the Dairy Products Packaging Market at a global level portraying a holistic analysis of the marketplace along with intelligence on key participants. The report covers an unbiased analysis on various market aspects, emphasizing major trends giving direction to the market, key opportunities paving new growth avenues, key drivers pushing the market’s growth and challenges and restraints hindering the market for Dairy Products Packaging Market across the globe.
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Dairy products are perishable as they have short shelf life. Packaging plays a vital role in distribution and storage of several dairy products. Packaging for dairy products is evolving at a faster rate and is driven by increasing demands from consumers for convenient, robust and lightweight packaging and also by industries for affordable and sustainable packaging material.
We have researched upon the packaging industry as a whole and its application in dairy products. The dairy product packaging sector is a lucrative one with a changing scenario across various regions around the globe. In our research, we have included analysis on various applications of packaging in the dairy industry, various material used for packaging as well as various product forms of packaging. In our recent analytical research report on global dairy packaging market, we have highlighted the future growth trajectory of the global market for packaging with respect to the dairy industry. According to us, the global market for dairy products packaging is estimated to touch a multi-billion dollar milestone in the coming years. It reflected a value a little lower than US$ 30 Bn in 2018 and is projected to expand at a value CAGR of 4.5% throughout the forecast period to reach an estimate of over US$ 43 Bn by 2027 end.
Plastics are widely used material for packaging of dairy products owing to high resilience and ruggedness. Moreover, plastic material offer convenience in transportation, distribution and storage of dairy products. They are light in weight than other packaging types, making it easy for the carrier to handle bulky dairy products. Various plastic packaging types are used, for instance, plastic pouches, plastic films, plastic wraps, plastic tubs and cups.
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In addition, they are cost effective, which is one of the main aspects for industries opting for plastic packaging. This, in addition to different modifications made in plastic packaging is expected to be healthy for the plastic material segment. According to analysis done, the plastic segment is expected to reach a higher valuation by the end of the year of assessment. In 2017, the plastic segment reflected a high market share consequently dominating the market. This trend was also observed in 2018 and is expected to continue in the consecutive years. The plastic segment is projected to grow at a high rate to register a significant value CAGR of 4.7% during the period of assessment.
The plastic segment is impacted by various categories within the segment. There are various types of plastics used for packaging for dairy products. PE accounted for a major chunk in the plastic packaging sector owing to its high strength. The PE sub segment is a potential growth driver of the plastic segment. It is expected to largely contribute to the market valuation of the plastic segment. The PE material is used for packaging of different products such as milk, cheese, yogurt and cream. The PE sub segment is estimated to touch a market valuation of more than US$ 13 Bn by the end of 2027. PET plastic material is also gaining high traction since past few years. This material comes with high tenacity, good chemical and heat resistance and strength. The PET sub category is projected to expand at the fastest pace during the forecast period.
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