Global Milk Packaging Market - Segmented by Packaging Type (Cans, Bottles, Cups, Pouches), Material (Plastic, Glass, Paperboard, Metal), and Region - Growth, Trends, and Forecast (2018 - 2023)
The milk packaging market is expected to register a CAGR of 2.77 % during the forecast period (2018 – 2023). The report is segmented on the basis of packaging type into cans, bottles, cups, pouches, and others, and on the basis of material into plastic, glass, paperboard, metal, and others. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The study also emphasizes the benefits of milk packaging with respect to the diverse applications and the future prospect of the same.
The packaging of milk is an important aspect to protect, carry, and market in order to sustain its freshness and convenient form of the product. There are various packaging types which are used for packaging milk, such as bottles, cans, and pouches. The trends associated with the packaging types vary with respect to country and region. For example, in Germany, the milk is usually packed in cartons whereas in the US the milk is also packed in pouches. There are diverse reasons for good packaging of milk like safety, information, ease of storage & handling, and distribution damages. The rise in production of milk across the globe is expected to have a positive impact on the market growth over the forecast period. Furthermore, the correct choice of packaging material in accordance with the weather conditions helps in ascending shelf life of the product which is likely to boost the utilization.
Rising Milk Production
The rapid increase in the number of cows in the dairy farm is expected to propel the milk production across the globe, thereby, fuelling the milk packaging market growth over the forecast period. In addition, the demand for dairy products, including cheese, yogurt, and cottage cheese, is increasing owing to health benefits offered by these products. This is projected to have a positive impact on the market growth over the next six years. There are various technological innovations in terms of milking a cow is emerging across the world. This development leads to less loss and profit maximization which is likely to affect the market on a positive note over the projected period.
Paperboard to Have the Highest Growth
The growing awareness associated with the environment is expected to have a positive impact on the paperboard packaging owing to its recyclable features. It offers extra protection to the stored product and increases shelf life. Moreover, the information imprinted on the packaging is clear and provide a high visibility, which is likely to propel the market growth over the forecast period. In addition, it omits the option for plastic or any other packaging which can be harmful for the environment. The aforementioned factors are projected to fuel the utilization of paperboard packaging for milk over the forecast period.
Asia-Pacific to Witness the Highest Growth
The Asia-Pacific region has a high potential for lactose-free dairy products as a healthy alternative to lactose products which is likely to complement the production of milk, thereby, propelling the market growth. In addition, the population in the region is usually tolerant to the lactose-containing products which create new avenues for lacrosse-free products. Furthermore, the rising concerns over child nutrition are projected to complement the milk consumption, thereby, propelling the market. Additionally, the region is rich with farmers that have milk trading as their main source of income owing to which the market is expected to witness the highest growth over the forecast period.
Key Developments in the Market