This report examines the global outlook for the packaged food industry over the next five years. Recent performance and growth prospects are considered by category and region, including analysis of the top performing companies and brands. This briefing also introduces five key trends shaping the packaged food industry over the long term.
This report comes in PPT.
Global unit volume sales of dairy packaging rose by nearly 2% in 2018, and growth is anticipated to accelerate slightly over the period to 2023. The bulk of this increase will come from the uptake of dairy products in Asia Pacific, as local consumers seek products to eat and to snack on with a healthier profile than conventional sweet and savoury snacks.
Drinking yoghurt and milk alternatives are among the fastest growing dairy categories in value terms. These products benefit from increasing consumer interest in the nutritional credentials of these products, which bodes particularly well for liquid cartons, PET and other plastic bottles.
Drinking yoghurt’s positive outlook, spearheaded by uptake and innovation in Asia Pacific and Latin America, relates to growth in consumption as a daily healthy habit. As such, drinking yoghurt packaging will thrive in small, portioned sizes below 300ml. As commonly seen in 100% juice, shaped liquid cartons could step away from their ambient territory, currently well explored in China. They will face fierce competition from plastic bottles, which help brand owners reflect a fresher image, with PET being favoured for a premium image.
Growing awareness of health and environmental issues related to cow’s milk has led consumers to turn to an increasing range of plant-based varieties. While milk alternatives show good growth prospects as a food staple, single-serve packaging could be further leveraged to expand their role as a nutritious drink for on-the-go consumption.
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