Milk Packaging Market boosting the growth through 2024

Growth of the global milk packaging market is driven by factors such as increasing number of small households – due to which consumers prefer single serve packs of consumer goods – particularly for milk and other dairy products. Moreover, increasing number of health conscious consumers in various countries is driving demand for milk as a source of calcium, minerals, vitamin D, and protein. Availability of various flavoured milk products in the market is another factor expected to stimulate growth of the global milk packaging market during the forecast period. In addition, increasing population and per capita disposable income is expected to drive sales of packaged milk products in future.

Moreover, various applications of milk for preparing food products is a factor expected to drive growth of the milk packaging market during the forecast period. However, price fluctuation of materials (aluminum, plastic, paper) used in milk packaging is expected to slightly hamper the sales of milk packaging. A significant trend gaining traction in the global milk packaging market is increasing awareness of eco-friendly materials. Among all material types used for milk packaging, paperboard segment is expected to account maximum growth in the near future, owing to its recyclable property.

Some key players in the global milk packaging market are Amcor Limited, Tetra Pack, Evergreen Packaging, Indevco, Ball, Elopak, Blue Ridge Paper Products, Clondalkin Group Holdings, CKS Packaging, Crown Holdings, Essel Propack, Consolidated Container, Fabri-Kal, Exopack Holdings, Global Closure Systems and Graham Packaging etc.

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The global milk packaging market is not consolidated in nature owing to presence of various local and international manufacturers, but the unorganized players also have strong presence. In the global milk packaging market, key players are entering into agreements and mergers and acquisitions with local manufacturers of milk packaging in order to increase their product offerings, and penetrate emerging countries.

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