The global cheese packaging market is on the brink of significant growth, with an estimated valuation of USD 3,706.5 million in 2024. According to the latest report by Future Market Insights, the industry is projected to achieve a value of USD 5,577.9 million by 2034, reflecting a compound annual growth rate (CAGR) of 4.2% during the forecast period.
Report Highlights: Important Revelations
- Growth Rate: The global cheese packaging industry is projected to witness a CAGR of 4.2% between 2024 and 2034.
- Market Worth in 2023: In 2023, the industry was valued at USD 3,519.4 million.
- Market Worth by 2034: By 2034, the industry is anticipated to reach USD 5,577.9 million.
- Region with Highest Growth Rate: East Asia is set to record the highest CAGR of 5% during the forecast period.
- Key Players: Major companies in the global cheese packaging industry include Amcor Plc, Berry Global Inc., and Winpak Limited.
Key Market Trends and Drivers:
- Strong Growth in E-commerce and Retail:
- E-commerce is anticipated to capture a 26.4% market share by 2034, driven by its increasing penetration, accessibility, and convenience. The platform offers a wide variety of choices and brands, enhancing the consumer shopping experience.
- The flourishing retail sector is expected to contribute USD 519.6 million by the forecast period, with the expansion of hypermarkets, supermarkets, and convenience stores influencing the sale of cheese packaging.
- Preferred Packaging Formats:
- Boxes: Expected to gain a 4.5% growth rate, boxes provide a sturdy and protective outer layer, essential for shielding cheese during storage and shipping.
- Trays and Flow Wraps: These formats are gaining popularity due to their suitability for preserving the freshness of cheese, offering convenience, portability, and safety.
- Material Preferences:
- Plastic: Currently holding USD 1.4 billion in revenue, plastic remains the preferred material due to its flexibility, versatility, effective barrier properties, transparency, and lightweight nature.
- Paper: Projected to hold around 25% of the market share by 2034, driven by sustainability, innovations in coating, compliance with regulations, and consumer inclination towards eco-friendly packaging.
Innovative Solutions in Cheese Packaging:
- Reclosable Flexible Packaging:
- Reclosable packaging solutions offer barrier properties that protect cheese from external factors and maintain freshness. Incorporating closure technologies helps maintain accurate moisture levels and remove excess oxygen and humidity, extending the product’s shelf life.
- Eco-conscious Packaging Materials:
- Rising eco-consciousness among consumers, discussions on climate change, and circular economy goals are shifting the focus towards recyclable materials. Regions like Europe and North America have implemented legislative laws to promote sustainable materials and reduce plastic use.
Challenges in the Market:
- Non-Recyclable Packaging Materials:
- Traditional films like OPA/P and OPA/PEP, while effective, face challenges in recycling. Manufacturers need to develop bio-based materials or films with minimal environmental impact to address sustainability concerns.
Key Takeaways of Cheese Packaging Market Study
- Pouches continue to hold a maximum market share; demand for small-sized pouches would be prominent for cheese slices and liquid cheese products.
- Plastics would discover a substantial incremental revenue opportunity by the end of 2029, owing to the superior barrier and space-efficient attributes.
- A majority of demand for cheese packaging is concentrated at modern trade channels such as hypermarkets and supermarkets.
- European countries continue to hold a lion’s share in global cheese packaging market.
- China, India, and Japan are emerging highly lucrative, on the back of progressing market outlook of ready-to-eat products.
Cheese packaging market players should best leverage the remunerative growth potential of eco-friendly material options. Capacity expansion and development of cost-effective cheese packaging technologies would help them discover significant profits across the value chain.
Cheese Packaging Market Landscape
The global cheese packaging market is highly competitive, where local and unorganized players are leveraging significant growth opportunities. Some of the key players in cheese packaging market include Amcor Plc, Winpak, Constantia Flexibles Group GmbH, Berry Global Inc., RPC Group Plc, Mondi Group, Sonoco Product Company, SCHUR Flexibles, Sealed Air Company, SKOPOS SA, and others.
Companies are focusing on product innovation and acquisitions with an aim to increase their global presence and customer base in the global cheese packaging market.
- In February 2019, Amcor Limited introduced Genesis, an all-polyethylene laminate with the look and feel of traditionally oriented polyethylene or oriented polyester. This product is suitable for use in medical, food, home care, personal care, and other industries. The company also acquired Bemis Company Inc., which is one of the leading players in the cheese packaging market.
- In 2019, RPC Group acquired PLASgraam, a leading recycling specialist in the U.K.
- In 2018, Berry Global Inc., acquired Laddawn, Inc. with an investment of US$ 242 Mn and Clopay Plastic Products Company, Inc. with an investment of US$ 475 Mn. In 2017, Berry Global Inc. acquired Adchem Corp and AEP Industries Inc. with an investment of US$ 791 Mn. The acquired company manufactures flexible packaging products from polyethylene and PVC.
Access Full Report: https://www.futuremarketinsights.com/reports/cheese-packaging-market
Key Segments of the Cheese Packaging Market
By Packaging Format:
The industry is segregated into boxes, cups, pouches, trays and flow wraps, containers, lids and foils, and others.
By Material:
In terms of material, the industry is divided into plastic, glass, paper, and aluminum. Plastic is further segmented as polyethylene terephthalate (PET), polypropylene (PP), polyethylene (PE), ethylene vinyl alcohol (EVOH), polyamide, and others.
By Distribution Channel:
Few of the important distribution channels include e-commerce, retail stores, convenience stores, hypermarkets, supermarkets, and others.
By Region:
Key countries of North America, Latin America, South Asia, East Asia, Europe, Oceania, and the Middle East and Africa are covered.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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