Global Milk Packaging Market 2017- Revenue, Price and Gross Margin Research Report 2024

SUMMARY

WiseGuyReports published new report, titled “Global Milk Packaging Market Outlook”.

Market Overview

Rising consumption of milk due to its high nutritional and health-related benefits is significantly raising the need for its proper packaging. Appropriate packaging of milk plays a vital role as it increases the shelf life of milk and helps in efficient & safe delivery of milk to the end users. Growing environmental awareness and rising preference towards the usage of eco-friendly packaging material for milk and other products is increasing the spending on R&D to produce innovative packaging solutions. In 2016, researchers of U.S. Department of Agriculture developed an edible and biodegradable packaging film with the help of milk protein named casein i.e. 500 times efficient in keeping oxygen away from the product and enhance its shelf life. Moreover, government is also taking initiatives in the reduction of usage of plastics in the packaging of milk. For instance, UK’s Food and Farming Department provided the instruction to dairy industry to reduce the usage of plastics in milk packaging that is expected to reduce up to 50% by the end of 2020.

Key vendors are adopting strategic investment to expand their product portfolio and to attract new customers. For instance, in 2015, Prolamina and Ampac, merged together to form their new global flexible packaging firm name, ProAmpac. In 2017, ProAmpac acquired a leading flexible packaging company Trinity Packaging Corp. (Trinity), aiming to provide creative packaging solutions for food and specialty industrial markets.

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Market Segmentation

The global milk packaging market is classified on the following basis:
• Based on Packaging Type
o Cups
o Cans
o Pouches
o Bottles
• Based on Materials
o Paperboard packaging
o Rigid plastic packaging
o Flexible plastic packaging
o Others (metal and glass packaging)
Market Size and Forecast (2016-2024)

In 2015, as per International Dairy Federation, the total milk production was nearly 820.0 million tons which is significantly increasing the demand for effective packaging of milk across the globe. Global milk packaging market is expected to reach USD 50.04 billion in 2024, growing at a healthy CAGR of 4.0% over the forecast period i.e. 2016-2024.

Rising demand for packaged milk and high rate of milk consumption in emerging economies such as China, India, Philippines and Indonesia is increasing the business opportunities for milk packaging market players in Asia-Pacific region. Asia-Pacific milk packaging market dominated the global milk packaging market with a market share of 32.5% in 2016. Asia-Pacific milk packaging market is expected to grow at a CAGR 6.0% during the time period of 2016-2024.

Europe and North America region together expected to occupy 33.0% revenue share in global milk packaging market in 2024. Rapid urbanization and hectic lifestyle of the population is raising the demand for packaged milk and packaged dairy products in these regions. Moreover, Middle East & Africa is one of the fastest growing regions in milk packaging market, owing to rapid urbanization in major countries such as UAE, Saudi Arabia and others. In terms of packaging, rising demand for light weight and eco-friendly packaging for dairy products in countries such as Saudi Arabia, the UAE, Kenya and Israel is likely to boost the growth of Middle East and Africa milk packaging market.

Market Drivers and Challenges

Growing demand for packaged milk and other dairy products are the two major factors which is creating a huge pressure on the dairy product manufacturers to increase the supply of products into the market. The food product manufacturers are inclining towards quality and bio-degradable packaging. Advancement in packaging machinery allows the manufacturers to introduce their product in attractive and multiple serve packaging. Growing demand for single serve milk packaging is expected to provide remarkable opportunities for milk manufacturers to gain huge consumer attraction. However, increasing cost of raw materials such as paper, plastic and aluminum used for packaging and ensuring product compliance and safety are some of the key factors restraining the growth of global milk packaging market. Moreover, introduction of stringent government regulations to minimize the harmful effects on environment from toxic material based packaging are building major challenges for the food and beverage industry to maintain their profit margin. High cost of eco-friendly packaging is a major factor which creates cynicism among the product manufacturers to adopt those packaging.

Key Market Players

• Tetra Pak
o Synopsis
o Business Strategy
o Product Portfolio
o SWOT Analysis
• Amcor Limited
• Indevco
• Evergreen Packaging
• Blue Ridge Paper Products
• CKS Packaging
• Elopak
• Clondalkin Group Holding

Market Segmentation

The Global Milk Packaging Market is segmented as follows:
• By Packaging Types (Market Size, Demand Analysis and Growth Analysis)
• By Material Types (Market Size, Demand Analysis and Growth Analysis)

By Regions

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World {Market Size, Growth Analysis and Opportunity Analysis}
Market Dynamics: Growth Drivers, Restraints and Opportunities
• Risk Factors
• Regional Variations
• Recent Trends and Developments

..CONTINUED

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This release was published on openPR.