Dairy packaging market to reach USD 85.8 Billion by 2027- Market Report
Dairy packaging market is predicted to reach USD 85.8 Billion growing at a CAGR of 4.4% from 2020 to 2027, according to market research report.
The growth is being attributed to rising consumer demand. Dairy packaging is helpful in minimising the effect of variable temperature and protect the product from damage. The sustainable packaging Industry is growing exponentially, witnessing a rapid demand rise supported by robust growth in dairy products and processed foods & beverages. In addition, increase in investment in product development is expected to garner significant traction in the years to come.
The major market trends are availability of packaged dairy product through various retailing channels and increasing consumer preference towards protein-based products. Moreover, the increasing popularity of smaller multipacks and rising consumer preference substantiates the consumption of dairy-based packaging across the globe.