Milk Packaging Market Outlook
The Milk Packaging Market size was USD 43.85 Billion in 2022 and is likely to reach USD 66.30 Billion by 2031, expanding at a CAGR of 4.7% during 2023 - 2031. Milk packaging consists of a variety of forms for transporting, identifying, protecting, and merchandising milk. Packaging milk makes it possible to extend its shelf life from a few hours to weeks and months.
Additionally, it protects microorganisms from light and moisture and other environmental factors. A milk package also plays a crucial role between the manufacturer and the consumer by ensuring that milk is delivered safely through different stages of production, storage, transportation, distribution, and marketing.Moreover, it can become a means of differentiating a manufacturer's product from the competition.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing demand for flavoured milk as well as advanced packaging methods to extend shelf life is estimated to spur the market growth.
- Growing health concerns among individuals and increasing demand for cost-effective packaging solutions in the milk industry are key factors driving the growth of the market.
- Expanding increased consumption of milk in developed and developing countries, increasing requirement for eco-friendly packaging, and growing environmental concerns are major factors that can foster the growth of the market.
- High cost of raw materials can restrain the market growth.
- The use of plastic packaging can create challenges for the market in the coming years.
- Ongoing technological developments by manufacturers can create revenue opportunities in the milk packaging market over the next few years.
Scope of Milk Packaging Market report
The report on milk packaging market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Milk Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2016 - 2021
Types (Tubs & Cups, Bottles, Cans, Pouches, and Others), Material Types (Glass, Plastic, Metal, Paperboard, and Others), End-users (Frozen Product, Milk, Butter, and Others)
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
Key Players Covered in the Report
Amcor Limited, Tetra Pack, Evergreen Packaging, Indevco, Ball, Elopak, Blue Ridge Paper Products, Clondalkin Group Holdings, CKS Packaging, Crown Holdings, Essel Propack, Consolidated Container, Fabri-Kal, Exopack Holdings, Global Closure Systems and Graham Packaging.
Milk Packaging Market Segment Insights
Bottles segment is projected to hold significant market share
In the terms of packaging types, the milk packaging market can be divided into tubs & cups, bottles, cans, pouches and others. The bottles segment is projected to hold significant market share in the projected timeline due to easy of handling. On the other hand, the pouches segment is estimated to grow at a steady rate in the coming years.
Paperboard segment is anticipated to account for a substantial share
Based on material types, the milk packaging market can be segmented into glass, plastic, metal, paperboard and others. The paperboard segment is anticipated to account for a substantial share. Increasing adoption of Tetra Pak carton packages manufactured mostly using paperboard and certain layers of polyethylene and aluminum foil is anticipated to fuel the growth of the market segment. Paperboard content in these cartons helps to provide stability, strength, and smoothness to the printing surface.
Milk segment is anticipated to grow at a significant pace in near future
On the basis of end-users, the milk packaging market can be divided into frozen product, milk, butter and others. Themilk segment is growing at a significant pace in near future due to increasing consumption of milk and milk-based drinks such as tea, coffee, hot chocolate, and protein shake. Consumers prefer milk in natural form owing to its key nutritional contribution to the diet. Milk is a main source of calcium; hence, it improves bone health.
Asia Pacific is expected to dominate the market
In terms of regions, the milk packaging market can be classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market due to increasing consumption of milk, demand for flavored milk, and presence of prominent players operating in countries in this region.
According to Global Agricultural Information Report, fluid milk production increased by 4% to 160 million metric tons (MMT) in comparison to previous year. On the other hand, the market in North America is estimated to grow at a steady pace during the forecast period.
By Packaging Types
- Tubs & cups
By Material Types
- Frozen Product
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
By Key Players
- Amcor Limited
- Tetra Pack
- Evergreen Packaging
- Blue Ridge Paper Products
- Clondalkin Group Holdings
- CKS Packaging
- Crown Holdings
- Essel Propack
- Consolidated Container
- Exopack Holdings
- Global Closure Systems
- Graham Packaging
Key players in the milk packaging market are Amcor Limited, Tetra Pack, Evergreen Packaging, Indevco, Ball, Elopak, Blue Ridge Paper Products, Clondalkin Group Holdings, CKS Packaging, Crown Holdings, Essel Propack, Consolidated Container, Fabri-Kal, Exopack Holdings, Global Closure Systems and Graham Packaging. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.