Milk Packaging Market Overview:
Global Milk Packaging Market was valued at $36,157 million in 2016, and is expected to reach at $49,809 million by 2023, registering a CAGR of 4.6% from 2017 to 2023. Packaging is a method of using components and containers to carry, protect, identify, and enable merchandising of products. Apart from providing safety and hygiene of products, it enables differentiation of products of two distinct companies or competitors. Moreover, increase in demand for single serve milk packs is estimated to fuel the growth of the global milk packaging market during the forecast period. In addition, several health & nutritional benefits associated with the use of packaging materials have fueled the demand for milk in the recent years, which is expected to drive the global market during the forecast period.
The global milk packaging market is segmented based on packaging type, material, and geography. On the basis of packaging type, it is categorized into cups, cans, bottles, pouches, and others. Based on material, it is classified into glass, plastic, metal, paperboard, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global Milk Packaging Market Segmentation
Top Investment Pockets, by Material
The paperboard segment offers maximum market potential in the global milk packaging market, owing to increase in demand for environment friendly and recyclable milk packaging materials. In addition, increasing prices of metal cans as well as hazardous effects of plastic packaging is another key factor fueling the demand for paperboards in the global milk packaging market. Increasing demand for flavored milk as well as rising preference towards lighter and eco friendly packaging solutions further fuels the demand for paperboard in the global milk packaging market. The paperboard segment is expected to register a CAGR of 5.1% during the forecast period. However, high prices and fluctuation in raw material prices are some key factors anticipated to hamper the market growth in the near future. Furthermore, investments in R&D activities to produce innovative and cost effective milk packaging are expected to provide opportunities for growth in the future.
Global Milk Packaging Market: Top Investment Pockets
The pouches segment accounted for the highest share in the global market in 2016, and is anticipated to maintain its dominance throughout the forecast period, registering a CAGR of 4.9%.
Milk Packaging Market Share, by Packaging Type, 2016 (%)
Asia-Pacific accounted for more than 45% of share of the global revenue in 2016, followed by Europe and North America regions. The developing countries in Asia-Pacific are anticipated to register steady growth rate, owing to the growth in the overall economy. Moreover, heavy inflow of investments by key manufacturers has supplemented the market growth.
Korea Milk Packaging Market, 2016-2023 ($Million)
The key market players have invested in R&D activities to develop advanced products to cater to the requirements of the market. The players operating in the industry include Tetra Pack, Amcor Limited, Indevco, Evergreen Packaging, Elopak, Ball, Clondalkin Group Holdings, Blue Ridge Paper Products, Crown Holdings, and CKS Packaging.
The other players in the value chain (profiles not included in the report) include DuPont (EI) de Nemours, Reynolds Group Holdings Limited, Alcoa Inc., Saint-Gobain S.A., Tetra Laval International S.A., Consolidated Container, Essel Propack, Fabri-Kal, Exopack Holdings, Global Closure Systems, Graham Packaging, International Paper Company, Printpack, SF Holdings Group, SIG Combibloc Group, Winpak, Stanpac, RPC Group, Huhtamaki, Linpac Packaging, Sealed Air, and others.
- The report provides extensive qualitative & quantitative analyses of the current trends and future estimations of the global milk packaging market from 2016 to 2023 to determine the prevailing opportunities.
- In-depth analysis of factors that drive and restrict the market growth is provided in the report.
- Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
- It offers key insights on strategic analysis of various companies operating in the global market.
Milk Packaging Market Key Segments:
By Packaging Type
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA