Milk Packaging Market Forecast, 2022-2027
The Milk Packaging Market size is estimated to reach $29.2 billion by 2027, growing at a CAGR of 4.5% during the forecast period 2022-2027. Milk Packaging is vital to not only conserve the nutritive value and minimize wastage but also to enhance the marketability to accomplish superior returns. The milk packaging sector needs to distribute nutritious milk to the customer in the most affordable, hygienic, secure, and environment-friendly packaging format. Plastic milk containers include plastic containers for packing, transporting, and offering milk. Plastic bottles, sometimes termed jugs, have largely taken the place of glass bottles for home consumption. Glass bottles for milk have conventionally been reusable while light-weight plastic bottles are planned for single trips and plastic recycling. The soaring demand for milk is set to drive the Milk Packaging Market owing to milk being an abundant source of vitamins, minerals, proteins, and fatty acids. The surging R&D initiatives to launch innovative packaging solutions distinct from the traditional glass bottles are set to propel the growth of the Milk Packaging Market during the forecast period 2022-2027. This represents the Milk Packaging Industry Outlook.
Report Coverage
The report: “Milk Packaging Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Milk Packaging Market.
By Packaging Type: Cans, Bottles/Containers, Cartons, Pouches/Bags, Others.
By Material: Plastic, Paperboard, Others.
By Geography: North America (the U.S, Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).
Key Takeaways
- Geographically, Asia-Pacific Milk Packaging Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the existence of countries like India and China which are among the largest global producers and consumers of milk where plastic containers and plastic bottles may be utilized for milk packaging in the Asia-Pacific region.
- Milk Packaging Market growth is being driven by the trend of on-the-go intake, the usefulness of the effortless pour, and alluring packaging quality distinct from the traditional glass bottles utilized for milk delivery. However, all milk packaging needs to fulfill binding requirements for food security, and out of the numerous kinds of packaging, only some definite ones may be utilized for every kind of milk product and these are some of the major factors hampering the growth of the Milk Packaging Market.
- Milk Packaging Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Milk Packaging Market report.
Milk Packaging Market Challenges
Limitations Of Diverse Milk Packaging Techniques Present Challenges To The Growth Of The Milk Packaging Market:
Paper-based packaging is prone to dampness and tearing. Plastic containers are susceptible to becoming brittle at low temperatures and melting at soaring temperatures. While glass is at resistant, it is also heavy and breakable. Glass may be unsafe. The freshness of milk may decrease in glass bottles. Milk in plastic packets may be effortlessly adulterated. The quality of plastic utilized needs to be virgin polyethylene only (LDPE, LLDPE, HDPE, or EVA). Shelf life is short. It is required to store at a fixed temperature in cold chains consistently. The disadvantages of the different kinds of Milk Packaging are thus hampering the growth of the Milk Packaging Market.
Milk Packaging Industry Outlook
Agreements and mergers and acquisitions are key strategies adopted by players in this market. Milk Packaging top 10 companies include:
- INDEVCO
- Evergreen Packaging
- Stanpac Inc.
- Elopak AS
- Ball Corporation
- Ecolean AB
- Greiner Packaging International GmbH
- WestRock
- TETRA PAK
- Nampak Ltd.
Acquisitions/Product Launches:
- In November 2021, Tetra Pak introduced what it dubbed a “universal connected experience”, accessed through its smart packaging. The Tetra Pak Iberia connected experience, built in partnership with Appetite Creative, targets to assist brands in engaging directly with customers without the requirement for introductory digital development costs. It is accessible originally to brands in southern Europe, with more countries to follow.
- In September 2021, Tetra Pak introduced its Leap Accelerator Program, as per a press release. The firm will provide brands the assistance of its experts and contractor makers to formulate products and aim for novel consumption occasions, develop packaging and promotions, and assist with constancy and scalability. Certain products the accelerator program could back involve dairy- and plant-based foods, and beverages with soaring acidity, as per Pedro Goncalves, Tetra Pak's vice president of marketing for the U.S. and Canada.
- In November 2020, Tetra Pak introduced its earliest total processing line for feta-type white cheese products, with a completely automated and combined solution to guarantee the greatest standard of food security and speed to market. Influencing over 45 years of experience in cheese processing, Tetra Pak is introducing this excellent practice line to allow white milk manufacturers and conventional cheese makers to seek opportunities within white cheese. The entire processing line has been planned to generate a diverse series of white cheese products, using proven technologies, like ultrafiltration and high shear mixing, to expedite customer investigation of a novel market segment and boost prevailing production capacity.
Comments
Post a Comment