In-depth analysis of factors that drive and restrict the market growth is provided in the report.
Global Milk Packaging Market was valued at $36,157 million in 2016, and is expected to reach at $49,809 million by 2023, registering a CAGR of 4.6% from 2017 to 2023. Packaging is a method of using components and containers to carry, protect, identify, and enable merchandising of products.
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Apart from providing safety and hygiene of products, it enables differentiation of products of two distinct companies or competitors. Moreover, increase in demand for single serve milk packs is estimated to fuel the growth of the global milk packaging market during the forecast period.
In addition, several health & nutritional benefits associated with the use of packaging materials have fueled the demand for milk in the recent years, which is expected to drive the global market during the forecast period.
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The global milk packaging market is segmented based on packaging type, material, and geography. On the basis of packaging type, it is categorized into cups, cans, bottles, pouches, and others.
Based on material, it is classified into glass, plastic, metal, paperboard, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific accounted for more than 45% of share of the global revenue in 2016, followed by Europe and North America regions. The developing countries in Asia-Pacific are anticipated to register steady growth rate, owing to the growth in the overall economy.
Moreover, heavy inflow of investments by key manufacturers has supplemented the market growth.
The key market players have invested in R&D activities to develop advanced products to cater to the requirements of the market. The players operating in the industry include Tetra Pack, Amcor Limited, Indevco, Evergreen Packaging, Elopak, Ball, Clondalkin Group Holdings, Blue Ridge Paper Products, Crown Holdings, and CKS Packaging.
The other players in the value chain (profiles not included in the report) include DuPont (EI) de Nemours, Reynolds Group Holdings Limited, Alcoa Inc., Saint-Gobain S.A., Tetra Laval International S.A., Consolidated Container, Essel Propack, Fabri-Kal, Exopack Holdings, Global Closure Systems, Graham Packaging, International Paper Company, Printpack, SF Holdings Group, SIG Combibloc Group, Winpak, Stanpac, RPC Group, Huhtamaki, Linpac Packaging, Sealed Air, and others.
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