Food & Beverage sector has the maximum share in the global packaging market owing to an increased demand for packaged food by the consumers. Off late, sports and nutrition is turning out to be a strong contributor to the market share of the food & beverage sector.
Consumers are increasingly getting conscious about their fitness and are engaging themselves in sports and other fitness routines. Protein is a must requirement for individuals who engage in a lot of fitness activities which is boosting the protein as well as protein packaging market.
Protein packaging market is likely to register significant growth over the forecast period owing to an increased consciousness among individuals regarding their health.
Protein Packaging: Market Dynamics
The dietary supplements industry has experienced rapid growth in the past couple of decades. Breakthroughs in biotechnology and biochemistry have led to a plethora of knowledge regarding the needs of the human body, leading to innovation in dietary supplement formulation.
This is expected to fuel the global protein packaging market as new formulations are brought to the market, thus creating a need to innovate in the packaging field, to come up with packaging materials which are compatible with the latest formulations. There has been a rising demand for nutritious food and supplements among consumers which is fuelling the growth of the global protein packaging market.
Protein is a must have dietary supplement for fitness enthusiasts which is a key factor driving the growth of the global protein packaging market. High cost of the protein supplements is a restraining factor for the global protein packaging market.
Moreover, protein packaging requires the quality material of exact chemical composition and density to keep the quality of the nutrients intact and a minute change may degrade the quality which is one of the restraining factor of the global protein packaging market. The growing concerns regarding the protein formulations, including the environmental concerns over the packaging materials used, might have a role to play in restraining the global protein packaging market.
Innovative packaging solutions for proteins apart from the regular tub packaging is a key trend prevailing in the global protein packaging market.
Protein Packaging: Market Segmentation
Global protein packaging market is segmented on the basis of packaging type, product type, raw materials, and geography. On the basis of packaging type, the global protein packaging market is segmented into rigid packaging and flexible packaging.
Rigid packaging is further sub segmented into boxes, cartons, and canisters. Flexible protein packaging is further sub segmented into stand up pouches, and side gusset bags.
The demand for flexible packaging is more as compared to rigid packaging owing to its convenience and portability. Moreover, pouches are preferred more over other types of packaging as they require less warehouse space and use less plastic.
On the basis of product type, the global protein packaging market is segmented into protein bars, and protein powder, and protein shakes. On the basis of raw material used, the global protein packaging market is segmented into paperboard, and plastics.
Plastics is largely preferred for protein packaging.
Protein Packaging Market: Regional Outlook
On the basis of geography, the global protein packaging market is segmented into Latin America, North America, and Middle East & Africa, Europe, and Asia Pacific region. North America is leading the global protein packaging market, particularly United States.
The higher percentage of North America is attributed to a large North American population engaged in fitness. Moreover, North America has an exceptional fitness and athletics infrastructure which leads to increased consumption of sports and nutrition drinks and hence, driving the demand for global protein packaging market.
Asia Pacific is expected to register faster growth owing to increasing demand for dietary supplements in economies like India and China. Increasing disposable income of households is also increasing the demand for protein packaging market in the Asia Pacific region.
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Protein Packaging Market: Key players
Key players of the global protein packaging market are Flexifoil Packaging Pvt. Ltd., Swiss Pac Private Ltd., Amcor Limited, and DuPont.
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