Dry Milk Products Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

Dry Milk Products Market size was valued at USD 3,437.6 Million in 2021 and is anticipated to grow at a significant CAGR of 4.6% from 2022 to 2028. Owing to the population pool and increase in demand for milk-based products in the Asia and Africa regions could be seen as an opportunity for the packaging manufacturers. The rising demand for packaging to prevent microbial contamination results in innovative designs and more excellent category activity. Consumers’ interest in eco-friendly packaging companies is growing, and companies are working hard to develop eco-friendly packaging products. In the global dairy packaging dry milk products market, the metal cans segment accounted for a significant share of revenue in 2021 and is projected to dominate the market throughout the forecast period. The milk powder packaging made of metal cans is of the highest quality and durability; the inner layer sealing is completely sealed, and the hard metal lid has a better sealing performance than foil film, particularly in terms of anti-extrusion in transport. Furthermore, government programs and subsidies include 100 percent FDI enabled in food processing through the FIPB to increase indigenous manufacturing and technologies such as Isotropic Polyester Film, and the use of Nanotechnology in packaging. According to the FSSAI, “The evaluation of the health hazards of food packaging materials (FPMs) is a never-ending problem which is since FPMs have the ability to release and then transfer components into meals. The consumer may then be exposed to those components and/or their reaction products because of this transfer.” Considering this, the FSSAI has embarked on a research and development project titled “Study of Chemical Containments in Food from Packaging Materials” in collaboration with the National Institute of Standards and Technology.

Key Development:

In May 2022, The Nordic Dairy Congress emphasises the importance of dairy in feeding a growing and ageing population.

In May 2022, After forecasting higher food prices, Arla raises farmgate milk pricing.