Research Nester has released its report titled “Milk Packaging Market: Global Demand Analysis & Opportunity Outlook 2020-2027” that delivers detailed overview of the global milk packaging market in terms of market segmentation by packaging, material and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global milk packaging market comprises of two segments which are segmented by packaging and by material. Paperboard forming part of material segment is anticipated to register the highest market share, owing to growing number of individuals across various regions of the world with awareness about protecting the environment from further damages and choosing paperboard packaging which can be recycled on many occasions, thereby ensuring sustainability of the product. The milk packaging market is predicted to witness a noteworthy CAGR over the forecast period (2020-2027).
The global milk packaging market is predicted to observe significant growth, owing to various factors such as higher rate of urbanization and more number of individuals opting for consumption of healthy drinks that can help them stay in good health. The number of individuals consuming packaged milk have been increasing who are more attracted to it, owing to longer shelf life of the products and the convenience of carrying these packaged products. Moreover, various health benefits such as better bone and dental health can be obtained. It is widely believed that consumption of packaged milk can also protect individuals from lifestyle diseases such as Type 2 diabetes and associated cardiovascular diseases. Moreover, the rapid shift from rural to urban areas by consumers over the past few decades, on account of better opportunities for earning a livelihood is anticipated to boost the demand for packaged milk and drive the growth of the market over the forecast period.
The global milk packaging market is segmented into five major regions comprising of North America, Latin America, Europe, Asia Pacific and Middle East and Africa. The market in Asia Pacific is anticipated to grow at a significant rate, owing to factors such as growing milk consuming population mainly observed in countries such as China and India which are homes to the world’s largest global population. Additionally, rapid urbanization and higher milk consumption rate than other nations have driven the demand for packaged milk products throughout the region. Further, the North America and Europe markets are anticipated to observe steady growth, on account of both regions being key exporters of dairy products that include milk as well as processed dairy products globally over the forecast period.
However, the global milk packaging market is subject to restraints such as the prices of materials, especially plastic and paper that vary frequently and are mainly used in packaging of milk and milk products. Additionally, growing anxieties about the impact on environment such as emission of greenhouse gases during dairy farm production among the consumers are increasingly predicted to act as major restraints to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global milk packaging market which includes company profiling of Tetra Pak, Inc., Amcor PLC (NYSE: AMCR), Indevco, Evergreen Packaging, Inc., Elopak, BV, Ball Corporation (NYSE: BLL), Clondalkin Group Holdings, Blue Ridge Paper Products, Crown Holdings, Inc. (NYSE: CCK) and CKS Packaging, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global milk packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.