Sep 16, 2020 10:36 AM ET
iCrowd Newswire – Sep 16, 2020
According to forecasters at Zion Market Research, the global milk packaging market was capitalized at $38,697 million during 2019 and is projected to attain $54,860.40 million by the end of 2026, growing at a CAGR of over 5.6% during the forecast period 2020–2026. The packaging is a method of utilizing containers and components to carry, guard, identify, and facilitate merchandising of products. Aside from providing hygiene products and safety, it enables the delineation of products of two different competitors or companies. Furthermore, the surge in the demand for single-serve milk packs is predicted to boost the expansion of the global milk packaging market in the estimated period. Additionally, numerous nutritional & health benefits linked with the utilization of packaging materials have stimulated the demand for milk in the last couple of years, which is likely to drive the global milk packaging market.
Some of the leading players in the market are Stanpac Inc., Evergreen Packaging LLC, Tetra Pak International SA, Elopak AS, and Ball Corporation. These companies are continuously upgrading and innovating product offerings to serve to the augmenting market demand.
Surging Number Of Health Conscious Consumers To Boost The Global Milk Packaging Market
The development of the global milk packaging market is boosted by aspects like surging number of small households, owing to which customers opt for single-serve packs of end user goods, mainly for milk and other dairy items. Furthermore, the surging number of health-conscious customers in different countries is propelling the demand for milk as a source of vitamin D, calcium, minerals, and protein. The accessibility of various flavored milk items in the market is another aspect projected to fuel the growth of the market in the forecasted period. Additionally, the per capita disposable income and increasing population are anticipated to boost up sales of packaged milk items in the coming few years. Furthermore, various applications of milk for manufacturing food products are likely to drive the growth of the global milk packaging market from 2019–2025.
The global milk packaging market is bifurcated on the basis of packaging type, material type, and regional analysis. Based on the packaging type, the market is divided into bottles, tubs & cups, pouches, cans, and others. Based on the material type, the market is divided into plastic, glass, paperboard, metal, and others.
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Asia-Pacific Region To Register The Highest Growth In The Global Milk Packaging Market
Based on the geographical analysis, the global milk packaging market is divided into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The Asia-Pacific region has the highest prospective for lactose-free dairy products as healthy substitutes to lactose products, which are projected to balance the production of milk, in that way, boosting the market expansion. Additionally, the population across the region is typically forbearing of lactose-containing products, which generates new possibilities for lactose-free products. Moreover, the increasing concerns regarding child nutrition are estimated to complement milk intake, thus driving the market.
Browse the full “Milk Packaging Market – By Packaging Type (Bottles, Tubs & Cups, Pouches, Cans, and Others), By Material Type (Plastic, Glass, Paperboard, Metal, and Others), and By Region – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/milk-packaging-market
The global milk packaging market is segmented as follows:
Based on the packaging type:
- Tubs & cups
Based on the material type:
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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Keywords: Milk Packaging Market