According to the latest report by IMARC Group, titled “Milk Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global milk packaging market experienced steady growth during 2011-2018. Milk packaging is utilized to carry, identify and enable merchandizing of milk while ensuring the maintenance of hygiene. These packaging solutions also act as a barrier against distribution and chemical damages as well as external factors, such as light and moisture. Apart from this, relevant information, such as nutritional value, manufacturing date and expiry date of the product, along with the brand logo and design are also labeled on the packaging, which further aids in product differentiation.
Global Milk Packaging Market Trends:
The global market is primarily driven by the increasing consumption of milk on a global level. Milk is a rich source of vitamins, calcium and proteins and is considered a complete nutritious meal in itself, owing to which it is widely consumed across the globe. Along with this, the thriving dairy industry is significantly contributing to the market growth. Moreover, extensive research and development (R&D) activities have been undertaken by numerous manufacturers to introduce eco-friendly packaging solutions in the market. An enhanced focus toward sustainable development has led to the launch of smart packaging solutions that are durable, energy-efficient, cost-effective and recyclable. Several technological advancements in the manufacturing process have enabled reduced carbon emissions, which is further creating a positive outlook for the market. The escalating demand for single-serve milk packs, along with the popularity of flavored milk and its diversified application in the food and beverage industry, are some of the other factors driving the market growth. On account of the aforementioned factors, the market is projected to grow at a CAGR of around 3% during 2019-2024.
- On the basis of the product type, the market has been divided into cups, cans, bottles, pouches and others.
- Based on the material type, the market has been categorized into glass, plastic, metal, paperboard and others.
- On the geographical front, the market has been segregated into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined in the report, with the detailed profiles of the key players operating in the market. Some of these include Amcor plc, Industrial Development Company (INDEVCO) sal, Evergreen Packaging LLC, Stanpac Inc., Elopak AS, Ball Corporation, Graham Packaging Company, SF Holdings Group Inc., RPC Group Plc, Crown Holdings, Inc., and CKS Packaging, Inc.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.