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The milk packaging market research report predicts the market to grow at a CAGR of around 3% by 2020. One of the primary drivers for this market is the growing demand for milk packaging from developing countries. The high consumption of milk and milk products in these countries will boost the growth of this market. By 2017, the milk industry is expected to witness a rapid increase in demand for rigid packaging and cartons for liquids, especially containers for packaging flavored milk. In addition, the growing demand for flavored milk from developing countries such as India, China, and Brazil will also propel the prospects for market growth until the end of 2020.
One of the latest trends gaining traction in this market is the increased use of eco-friendly materials like paperboard. Paperboard packaging holds the largest market share in the global milk packaging market as it takes less time to break down and decompose in nature. Also, the materials used for paperboard packaging take only five years to break down under natural conditions, which is much less than materials like metal cans and polyethylene terephthalate bottles. The growing preference for biodegradable and sustainable packaging will augment the demand for paperboard in the coming years.
During 2015, paperboard packaging segment dominated the milk packaging market and accounted for approximately 47% of the total market share. Paperboard packaging is highly preferred as it is easy to recycle. Besides, it also offers a strong barrier to the packaged products and shields them from any contamination. Vendors such as Elopak and PKL have come up with opening and closing fitments in the packages for easy use of consumers and better protection for the packed products.
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APAC is expected to be the fastest-growing region in the milk packaging market and is anticipated to post an impressive CAGR of more than 4% during the forecast period. China and India will be the key revenue contributors to the market as they are the major producers and consumers of milk. The consumption of milk in these countries has increased owing to its numerous health benefits.
This market is highly fragmented because of the presence of numerous local and international vendors. Several companies in this market are also present in other categories of packaging such as plastic bottle packaging and paperboard packaging, which in turn has intensified price wars among the vendors. In this market, the key players are entering into strategic agreements and are acquiring small local companies for expanding their product offerings and their geographical reach worldwide.
According to the milk packaging market analysis report, the key vendors in the market are -
The other prominent vendors in the milk packaging market are Blue Ridge Paper Products, CKS Packaging, Clondalkin Group Holdings, Consolidated Container, Crown Holdings, Essel Propack, Exopack Holding, Fabri-Kal, General Packaging Products, Genpak, Global Closure Systems, Graham Packaging, Graphic Packaging Holding, Huhtamaki, International Paper Company, Linpac Packaging, Nampak, Printpack, RPC Group, Saint-Gobain, Sealed Air, SF Holdings Group, SIG Combibloc Group, Stanpac and Winpak.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market opportunity assessment
PART 07: Market segmentation by material
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Appendix
PART 16: Explore Technavio
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