Milk Packaging Market

Increase in health awareness among consumers and rise in consumption of flavored milk are the factors that drive the growth of the milk packaging industry.

PORTLAND, OR, US, December 6, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Milk Packaging Market, by Packaging Type and Material: Global Opportunity Analysis and Industry Forecast", 2022–2031", The milk packaging market was valued at $40,012.10 million in 2020, and is estimated to reach $66.0 Billion by 2031, growing at a CAGR of 4.69% from 2022 to 2031.

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The pouch segment accounted for more than half of the global milk packaging industry in 2021. Milk packaging establishes an important link between milk manufacturer and consumer for systematic and secure delivery of milk through different stages of storage, transport, and distribution. Milk packaging has gained a prominent position in overall distribution process, owing to rapid growth in the global economy and improvements in the standard of living of people.

Packaging is a method of using components and containers to carry, protect, identify, and enable merchandising of products. It differentiates products of two distinct companies or competitors along with providing product safety and hygiene. Moreover, increase in demand for single-serve milk packs is expected to fuel growth of the global milk packaging market during the forecast period. In addition, several health and nutritional benefits associated with the use of packaging materials have fueled the demand for milk in recent years, which, in turn, is expected to drive the global market during the milk packaging market forecast period.

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Milk packaging is expected to witness the highest growth in the future, owing to high demand for flavored milk and rise in consumption of packaged food especially in the developing countries that will promote the milk packaging market share in food packaging industry. Furthermore, urbanization and surge in demand for eco-friendly milk packaging materials are expected to boost the market growth. The plastic segment accounted for around one-third of the global milk packaging market size, in terms of volume, in 2020. The demand for milk packaging increased in the recent years, due to response to perennial modifications in packaging industry. Thus, increase in requirement of high-tech milk packaging materials and rise in adoption of new & eco-friendly materials have fueled the demand for milk packaging across the globe.

Leading Key Players

The major companies profiled in the report include Tetra Pack, Amcor Limited, Indevco, Evergreen Packaging, Elopak, Ball Corporation, Clondalkin Group Holdings, Blue Ridge Paper Products, Crown Holdings, and CKS Packaging.

Region wise, Asia-Pacific accounted for more than 45% contribution in global milk packaging market share of in 2021, followed by Europe and North America. Developing countries in Asia-Pacific are anticipated to register gradual growth rate, owing to growth in overall economy. Moreover, heavy investments by key manufacturers supplement the milk packaging market growth.

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In addition, increase in the number of health-conscious consumers across the globe boosts the overall demand for milk, which is a source of minerals, calcium, protein, and vitamin D. Moreover, companies focus on expanding their product portfolio by serving flavored and specially packaged milk. This, in turn, is expected to fuel the overall demand for milk in the future. However, fluctuation in prices of materials, including plastic, paper, and aluminum and stringent government regulations regarding the use of nondegradable plastic pouches hamper the milk packaging market growth.

KEY FINDINGS OF THE STUDY

The milk packaging market analysis shows that paperboard segment is anticipated to grow at the highest CAGR of 5.25% during the forecast period.

Asia-Pacific is projected to maintain its dominant position in the global market from 2020 to 2031.

The pouch segment occupied more than half of the total market in 2021.

China occupied more than one-fourth of the Asia-Pacific market in 2021.

In terms of value, Italy is expected to grow at a significant CAGR of 4.37% during the forecast period.

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Check out more related studies published by AMR Research:

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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