Pune, June 12, 2023 (GLOBE NEWSWIRE) -- A global research and business consulting firm, Maximize Market Research, has published a market intelligence report on the “Milk Packaging Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Milk Packaging Market from a local as well as a global point of view. Over the forecast period, Maximize Market Research expects the market to grow from USD 40.2 Bn in 2022 to USD 62.34 Bn in 2029 at a CAGR of 6.47 percent.
Milk Packaging Market Report Scope and Research Methodology
| Market Size in 2022 | USD 40.2 Bn. |
| Market Size in 2029 | USD 62.34 Bn. |
| CAGR | 6.47 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 276 |
| No. of Tables | 113 |
| No. of Charts and Figures | 112 |
| Segment Covered | Product, Material, Packaging, Distribution Channel |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Milk Packaging Market Overview
Key players operating in the market are constantly exploring innovative packaging designs and features to fascinate consumers that also include ergonomic shapes, improved pour spouts, and portion-controlled packaging. The milk packaging industry is subject to various regulations and standards to ensure food safety and product integrity. The regulations govern areas like labeling and hygiene practices during packaging. Within the greater packaging business, the milk packaging market is a significant subsector. It entails the manufacturing and supply of a range of packaging materials made especially for milk and dairy products. These methods of packaging milk are meant to keep it fresh, prevent contamination, and make it easier for consumers to use. Top brands and new entrances in the dairy industry are capturing a large consumer base with product lines and flavors to fulfill different tastes and needs. Innovation, including new product development, is a key component of market growth. Key players are continuously seeking to understand their consumers and develop products that address their desire for organic and alternatives to conventional dairy packaged foods.
Milk Packaging Market Dynamics
The general expansion of the dairy sector, which includes the production of milk, yogurt, and other dairy goods, is driving the demand for milk packaging. For consumption while on the go, consumers look for package alternatives that offer convenience, such as resealable or easy-to-open spouts. Milk products' shelf life is greatly increased by packaging, which shields them from contaminants including light, moisture, and bacteria. The strong market growth and improved margin opportunities have caught the attention of food companies, start-ups, and investors. It has also provided a ripe space for capital investment opportunities because of the consistent success of the risk of dairy products. Demand for dairy products is offering their conventional dairy counterparts for their economic strength. An increase in the adoption of dairy products from many drivers like the avoidance of dairy allergens, demand for clean label products, compatibility with vegetarian, vegan, and flexitarian lifestyles, and concerns about sustainability. Various microeconomic and macroeconomic factors like Demand & supply, disposable income, and consumer preference are influencing positively and negatively global medical wearable devices market.
Milk Packaging Market Regional Insights
The milk packaging market is well established in Europe, where innovation and sustainability are highly valued. The region has been at the forefront of implementing technology and packaging materials that are environmentally friendly. Recyclable products like paper-based boxes and biodegradable plastics are in high demand. In order to accommodate shifting consumer lives, there is also a growing trend towards portion-sized and on-the-go package options.
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The milk packaging industry is expanding quickly in the Asia-Pacific region Due to rising urbanization, population expansion, and shifting dietary practices. Although more convenient and hygienic solutions like Tetra Pak containers are becoming more and more popular, traditional forms like glass bottles and pouches continue to be widely used. Innovative and aesthetically pleasing packaging is required as the demand for premium and value-added milk products develops along with disposable income.
Milk Packaging Market Segmentation
By Product:
- Liquid milk
- Flavored milk
- Milkshakes
- Condensed milk
By Material:
- Plastic
- Glass
- Paperboard
- Metal
Paperboard is expected to drive the market growth
Globally, there has been tremendous growth in milk packaging due to rising awareness of environmentally friendly packaging materials. Due to its recyclable nature, paperboard is expected to increase at the highest rate among milk packaging materials. Because paperboard is recyclable, increasing environmental awareness is anticipated to benefit the paperboard packaging market.
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By Packaging:
- Bottles
- Cartons
- Pouches
- Cans
By Distribution Channel:
- Retail stores
- Online Stores
- Supermarket and Convenience Stores
Milk Packaging Key Competitors include:
- Tetra Pak
- Ball Corporation
- Amcor Limited
- Crown Holdings Inc.
- Graphic Packaging International
- SIG Combibloc Group Ltd.
- Smurfit Kappa Group
- Ardagh Group
- Alpla Werke Alwin Lehner GmbH & Co KG
- RPC Group
- Sealed Air Corporation
- Huhtamaki Oyj
- Nippon Paper Industries Co., Ltd
- Bemis Company Inc.
- Braskem
- Klabin SA
- Nampak Ltd.
- Elopak AS
- Mondi Group
- Alpha Packaging
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Key questions answered in the Milk Packaging Market are:
- What is Milk Packaging?
- What was the Milk Packaging Market Size in 2022?
- What is the expected Milk Packaging Market size during the forecast period?
- What are the global trends in the Milk Packaging Market?
- What are the major restraints for the Milk Packaging Market?
- Which segment dominated the Milk Packaging Market growth?
- What is the demand pattern for the Milk Packaging Market?
- What growth strategies are the players considering to increase their presence in Milk Packaging Market?
- What are the upcoming industry applications and trends for the Milk Packaging Market?
- Who are the leading companies and what are their portfolios in Milk Packaging Market?
- Which region dominates the largest market share in Milk Packaging Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Challenges
- Market Segmentation – A detailed analysis by Segment.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading research firm, has also published the following reports:
Oat Milk Market - Global Market size was valued at USD 2.55 Billion in 2022 and is expected to grow at a CAGR of 12.5% from 2023 to 2029, reaching nearly USD 6.20 Billion. An increase in awareness of health and wellness, the rise in lactose intolerance, the growing popularity of veganism, and the environmental concerns of consumers are some of the driving factors behind the market growth.
Blood Glucose Strip Packaging Market – Global market size was valued at USD 1.98 Bn in 2022 and the total Blood Glucose Strip Packaging revenue is expected to grow by 6.64 % from 2023 to 2029, reaching nearly USD 3.1 Bn. Growing Prevalence of Diabetes Driving the Blood Glucose Strip Packaging Market.
Sustainable Packaging Market - Global market size reached USD 281.42 Bn in 2022 and is expected to reach USD 406.66 Bn. by 2029, growing at a CAGR of 5.4 % during the forecast period. Huge investments in the food processing, personal care, and pharmaceutical sectors are creating opportunities for the growth of the sustainable packaging market.
Connected Packaging Market- Market was valued at nearly US$ 41.37 Bn. in 2021. Connected Packaging Market size is estimated to grow at a CAGR of 5.13% & is expected to reach US$ 61.73 Bn. by 2029. Growing demand for ready-to-eat & serve food products in the region as a result of changing lifestyles among the country's urban population is expected to boost sector growth over the forecast period.
Display Packaging Market - Display Packaging Market was valued at US$ 1.61 Bn in 2022 and is expected to grow at a CAGR of 4.5% through the forecast period. Population growth will drive the growth of the display packaging market.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include Healthcare, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
