The new report by Expert Market Research titled, ‘Global Milk Packaging Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global milk packaging market, assessing the market based on its segments like type, material, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 40.1 billion
- Forecast CAGR (2021-2026): 3.0%
- Forecast Market Size (2026): USD 47.9 billion
The global milk packaging market, particularly for milk and other milk products, is being driven by factors such as the increasing number of small households in which consumers choose to serve single packages of consumer products. Also, an increasing number of health-conscious consumers in various countries are demanding milk as a source of calcium, minerals, vitamin D, and protein, which is fueling the industry's growth. Another factor expected to drive global industry growth over the forecast period is the availability of various flavoured milk products on the market. As a result, future sales of packaged dairy goods are projected to be driven by an increasing population and disposable per capita income. Also, various milk applications in the preparation of food products are expected to propel the milk packaging market forward in the coming years.
However, price increases in the materials used in milk packaging (aluminium, plastics, and paper) can stymie sales of milk packaging. The industry's growth is expected to be supported in the coming years by significant changes in the global market for milk packaging for environmentally friendly products. Due to its recyclable properties, the paperboard segment is likely to drive the most growth among other types of materials used for milk packaging shortly.
Industry Definition and Major Segments
Packaging is a way of securing, transporting, identifying, and allowing product merchandising by the use of containers and parts, and it should be made from the most appropriate materials for the job. A business can differentiate its products from those of its rivals by allowing healthy and hygienic product packaging.
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Based on type, the milk packaging market is segmented into:
On the basis of material, the market is divided into:
On the basis of region, the market is divided as:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
The Asia Pacific market is expected to expand at a relatively fast rate between 2021 and 2026, as several developing countries, such as India and China, account for a significant amount of milk production and consumption.
In terms of content, plastic makes up a large portion of the milk packaging industry. In the coming years, it will also be the market's most optimistically rising material category. Due to the growing penetration of technological advances in the global food and beverage packaging industry, paperboards are expected to expand significantly in the near future.
Different developing countries in the Asia Pacific, such as India and China, are the region's largest milk producers and consumers. In the coming years, Asia Pacific's overall economic growth and heavy investment from key producers in the area would almost certainly make the region a dominant player in the industry. The presence of a dense population and an increase in industry developments are both factors that contribute to this area's development. After the Asia Pacific, North America and Europe are the other major markets for the commodity, owing to their lower contribution to milk production and consumption than the Asia Pacific.
People in the Asia Pacific region are normally lactose-intolerant, which opens up possibilities for new lactose-free products. In addition, growing concerns about child nutrition would help to fuel dairy consumption and, as a result, the industry. Many farmers in the area rely on the dairy trade as their primary source of income, and the sector is expected to expand the most over the forecast period. Despite accounting for over 15% of global milk production, there is a substantial gap in supply and demand in countries such as India. Despite the unfavourable circumstances, the Indian government has agreed to keep the ban on milk and milk products in place. It is assisting local farmers in growing their yield in large part. International firms are also encouraged to expand domestic production by the government. It is common in many other Asian countries, including China. As a result, the region's milk packaging market is expected to expand as the emphasis on rising milk production continues.
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Key Market Players
The major players in the market are Amcor plc, Industrial Development Company s.a.l., Stanpac Inc., Graham Packaging Company Inc., Crown Holdings and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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