Milk Packaging Market Share, Demand, Top Players, Industry Size, Future Growth By 2029

The global milk packaging market size can grow exponentially as it enhances the shelf-life of milk products. The highly protective nature of milk packages can also boost market growth. Fortune Business Insights™ mentions this information in its report, titled, "Milk Packaging Market, 2021-2028."

Milk packaging protects milk from getting spoilt from bacteria and impurities. It enhances shelf-life and improves sustainability against harsh environments. The adoption of attractive packaging is responsible for attracting consumers and improving sales. As per Pack Mojo, approximately 8.49% people are observed to purchase products that are attractively packaged. Further, the adoption of better quality materials such as bamboo enhances the protection of milk. Milk packaging is an eco-friendly alternative to plastic and can be recycled easily. Manufacturers such as Crown Holding, Blue Ridge Paper Products, Clondalkin Group Holding, Ball, Elopak, and Ever Packaging are focusing on developing innovative eco-friendly solutions such as paper-based and bamboo-based packaging. In addition, the rising demand for protein-based dairy products can enhance the demand for milk packaging. Therefore, these factors can improve the growth of the market. 

Impact of COVID-19

Rising Demand for Healthy Products to Propel Market Growth

This market is expected to be positively impacted during the COVID-19 pandemic because of the rising demand for healthy food products. The higher per-capita income and evolving lifestyle would also fuel the demand for milk products. The resumption of travel and production has led to the demand for milk packaging material. Additionally, the adoption of reduced capacity and part-time shifts can enable manufacturers to balance costs. Therefore, this factor is estimated to fuel market growth.

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Segments

By type, the market is segmented into pouch, bottle, can, and others. Based on material, it is divided into plastic, paper board and paper, and glass. As per end-use, it is classified into milk, frozen products, butter, and others. Geographically, it is grouped into Europe, North America, South America, Asia Pacific, and the Middle East & Africa. 

Highlights of the Report

It highlights the recent trends and the leading segments. It comprehensively discusses the impact of COVID-19 and the driving and restraining factors. Additionally, it observes the regional developments and the strategies devised by the market's key players.

Drivers and Restraints

Rising Demand for Milk Products to Propel Market Growth

The rising demand for milk products such as butter, cheese, ice cream, curd, and others can attract the demand for milk packaging. Increasing health concerns and the adoption of healthier food products can enhance the adoption of milk packaging products. The evolving consumer preferences and rising spending ability would lead to the adoption of attractively packaged products. The rising demand for transportable food packaging such as cans, cartons, pouches, bags, bottles, and other materials can foster the product's demand. Therefore, these factors can drive the milk packaging market growth.

However, the emergence of lactose intolerance and the adoption of vegan products can hamper market growth. 

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Regional Insights

Presence of Huge Food & Beverage Facility to Propel Market Growth in Asia Pacific

Asia Pacific is expected to dominate in terms of the milk packaging market share due to the presence of a huge food & beverage facility. In addition, the demand for healthy food products and evolving consumer preferences can foster market growth. 

In Europe and North America, the adoption of dairy products in food manufacturing and restaurants can propel the growth of the market. As per the Food and Agriculture Organization of the United Nations, Europe produced approximately 226.4 million tonnes of milk packaging in 2018. It is an approximately 8% growth compared to 2017. Therefore this factor can propel market growth.

Competitive Landscape

Prominent Companies Acquire Major Players to Enhance their Product Portfolios

Prominent companies operating in the market are acquiring major players in the market to enhance their product offerings. For example, Tetra Pak acquired Big Drum Engineering GmbH in April 2017. This acquisition enabled the company to enhance its product portfolio and expand its market reach. Further, the adoption of technologically advanced production technologies can enable companies to enhance their milk packaging product's quality, improve operational efficiency, reduce labor costs, and fulfill organizational goals. This strategy can refine the company's sales and improve annual revenues. 

Industry Development

• April 2019: Blackstone acquired the world's leading specialty packing company named Essel Propack. This acquisition boosted the company's shares to Rs 139 per share.

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List of Key Players Profiled in the Milk Packaging Market Report

• Tetra Laval International

• Fabri-Kal

• Consolidated Containers

• Alcoa Inc.

• Saint Gobain S.A.

• Essel Propack

• Graham Packaging

• Exopack Holdings

• Global Closure Holdings

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