Dublin, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The "Milk Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global milk packaging market has experienced substantial growth in recent years, with a market size of US$ 41.7 Billion in 2022. According to the latest report, the market is poised to reach US$ 53.7 Billion by 2028, exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period from 2023 to 2028.
Milk packaging involves the use of various containers to store, protect, and merchandise milk, extending its shelf life and safeguarding it against external factors such as microorganisms, light, and moisture. It plays a crucial role in ensuring the safe delivery of milk from production to consumption while enabling manufacturers to differentiate their products in a competitive market.
The rising demand for milk, known for its nutritional value, including vitamins, minerals, proteins, and fatty acids, is a significant driver for the global milk packaging market. Additionally, heightened environmental awareness has led to a preference for eco-friendly packaging materials, prompting manufacturers to invest in research and development (R&D) for innovative packaging solutions.
The increasing demand for single-serve milk packs is also anticipated to fuel market growth. Other growth factors include a growing global population, rising income levels, health-conscious consumers, versatile applications of milk in the food and beverage industry, and the availability of flavored milk variants.
Key Market Segmentation:
The report provides a comprehensive analysis of key trends in each sub-segment of the global milk packaging market, with forecasts at both global and regional levels from 2023 to 2028. The market is categorized based on product type and material type.
Breakup by Product Type:
- Cups
- Cans
- Bottles
- Pouches
- Others
Breakup by Material Type:
- Glass
- Plastic
- Metal
- Paperboard
- Others
Breakup by Region:
- Europe
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Competitive Landscape:
The competitive landscape of the market is robust, with notable packaging companies such as Amcor Limited, Indevco, Evergreen Packaging, Stanpac Inc., Elopak AS, Ball Corporation, Graham Packaging Company Inc., SF Holdings Group Inc., RPC Group Plc, Blue Ridge Paper Products, Crown Holdings, CkS Packaging, among others.
The latest report offers a comprehensive insight into the global milk packaging market, covering macro and micro aspects of the industry. The report includes recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, and more. It is an indispensable resource for industry players, investors, researchers, consultants, business strategists, and anyone considering involvement in the global milk packaging market.
Key Questions Answered in This Report:
- What was the size of the global milk packaging market in 2022?
- What is the expected growth rate of the global milk packaging market during 2023-2028?
- What are the key factors driving the global milk packaging market?
- What has been the impact of COVID-19 on the global milk packaging market?
- What is the breakup of the global milk packaging market based on the product type?
- What is the breakup of the global milk packaging market based on the material type?
- What are the key regions in the global milk packaging market?
- Who are the key players/companies in the global milk packaging market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $41.7 Billion |
| Forecasted Market Value (USD) by 2028 | $53.7 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/mer9hp
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