Global dairy packaging market set to reach US43.1B by 2034

GLOBAL – The global dairy product packaging market is poised for steady growth over the next decade, with its value expected to rise from US$33 billion in 2024 to US$43.1 billion by 2034, according to a report by Future Market Insights, Inc. 

This expansion, driven by a compound annual growth rate of 2.7%, reflects increasing consumer demand for dairy products and innovative packaging solutions that prioritize convenience, sustainability, and product differentiation.

The surge in dairy consumption, fueled by growing awareness of healthy lifestyles, is a key factor propelling the market forward. 

Manufacturers are responding by adopting eye-catching designs and advanced technologies, such as aseptic packaging, to extend shelf life and ensure product freshness. 

“Consumers today want packaging that’s not only practical but also aligns with their values, like sustainability,” said a spokesperson for Mondi Group, a leading packaging company. 

This shift has prompted firms to explore eco-friendly materials, including recyclable steel and bio-based options, to meet evolving preferences.

In 2023, the market was valued at US$32.3 billion, with steel packaging dominating due to its durability and suitability for products like condensed milk. 

The report highlights that F-style steel cans are expected to hold a significant 28.7% share in 2024, while steel materials will account for 45.5% of the global market. 

Innovations in single-serve packaging, such as yogurt pouches and milk cartons, are also gaining traction, particularly in urban areas where busy lifestyles demand on-the-go solutions. 

“Single-serve options are a game-changer for us,” noted a representative from Bemis Company Inc., emphasizing their appeal to younger consumers.

Regionally, India is projected to see the fastest growth, with a compound annual growth rate of 6.4% through 2034, driven by an expanding population and the rise of convenience stores. 

The United States, meanwhile, is expected to grow at a more modest 1.6%, supported by demand for cheese and yogurt packaging. 

In Europe, Spain’s market is anticipated to increase at 2.1%, reflecting steady dairy consumption trends.

Competition among industry players is intensifying, with companies investing in automation and partnerships to stay ahead. 

For instance, collaborations with research institutions are yielding advancements in printing techniques and material durability. 

The focus on sustainable practices is also reshaping the industry, as firms strive to reduce environmental impact while meeting consumer expectations for quality and convenience.

As the dairy packaging market evolves, it remains a vital component of the global food industry, balancing innovation with the practical needs of producers and consumers alike.

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