Research Nester has released its report titled “Milk Packaging Market: Global Demand Analysis & Opportunity Outlook 2020-2027” that delivers detailed overview of the global milk packaging market in terms of market segmentation by packaging, material and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global milk packaging market is predicted to grow at a noteworthy CAGR over the forecast period (2020-2027), owing to the growth in the global population and increasing per capita incomes of individuals in many parts of the world. Many health benefits such as improvement of bones and dental health that are associated with milk consumption are also driving the high demand for packaged milk among the world population.
The number of individuals who are migrating from rural to urban areas has been increasing significantly, owing to factors such as better economic opportunities and livelihood. Moreover, the preference of urban population to consume packaged milk is driven by their desire to remain healthy and protect against any weight gain or obesity. Additionally, consumption of packaged milk is also believed to be good for bone and dental health and also may aid in minimizing the chances of developing any diseases such as Type 2 Diabetes or any cardiovascular diseases.
However, milk packaging faces some drawbacks such as high variations in the prices of materials such as plastic and paper which are being used for packaging of milk. Additionally, concerns about the environment among the population regarding the emission of greenhouse gases that is involved during dairy farming production is increasingly anticipated to restrain the growth of the market over the forecast period.
The global milk packaging market consists of two segments which are segmented by packaging and by material. The paperboard forming part of material segment is anticipated to hold the largest market share, owing to growth in awareness among consumers on environment and its damaging effects. On the other hand, the products made of paperboard can be recycled which helps in ensuring the sustainability of the product. Plastic forming part of material segment is also anticipated to register significant growth, owing to the convenience it provides to the user as well as lower costs that helps the manufacturer in the reduction of end product costs.
This report also provides the existing competitive scenario of some of the key players of the global milk packaging market which includes company profiling of Tetra Pak, Inc., Amcor PLC (NYSE: AMCR), Indevco, Evergreen Packaging, Inc., Elopak, BV, Ball Corporation (NYSE: BLL), Clondalkin Group Holdings, Blue Ridge Paper Products, Crown Holdings, Inc. (NYSE: CCK) and CKS Packaging, Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global milk packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.