The global milk packaging market is projected to grow at a CAGR of over 4% during the forecast period. The key factors that encourage the growth of the market include various applications of milk for the preparation of several food items. Further, milk is also considered as a source of calcium, minerals, vitamin D, and protein. Besides, the availability of milk in the form of flavoured drinks and others is also driving the growth of the global milk packaging industry over the forecast period.
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Some other key trends contributing to the growth of the global milk packaging market include the shift of consumers towards the eco-friendly packaging. Consumers are increasingly making purchases of products that possess eco-labels and are labeled as locally grown and produced. Ecolabels are a voluntary labeling system that identi?es a good or service as having a reduced environmental impact relative to comparable goods and services. Such trends are encouraging eco-friendly packaging based dairy products.
Further, Amcor PLC, Mondi Group, Ball Corp., Ardagh Group, TetraPak International S.A., and Stanpac Inc., and others are some of the key players contributing towards the growth of the milk packaging market. New product launches & developments, partnerships, agreements, and acquisitions are some of the key strategies adopted by the players to sustain in the competitive market. For instance, in March 2019, Tetra Pak unveiled the “factory of the future” with digital technology with human and AI collaboration in order to enhance the way of manufacturing plants.
In September 2018, a2 Milk announced to switch from plastic to carton to sell its product in 100% recyclable FSC-certified paper-based cartons. The company is focusing on shifting towards the use of paper-based cartons that utilizes 80% less plastic than bottles and carry the Forest Stewardship Council label.
In April 2018, Crown Holdings acquired the provider of transit packaging systems and solutions named Signode Industrial Group Holdings Ltd. from The Carlyle Group. The total acquisition was done for $3.9 billion.
In March 2018, Amcor PLC partnered with SIG for Aluminum sourcing. Both the company collaborated intending to ensure the supply chain of aluminum foil meets the Aluminum Stewardship Initiative (ASI).
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Global Milk Packaging Market – Segmentation
By Material
- Plastic
- Paper & Paperboard
- Others
By Packaging Type
- Rigid Packaging
- Flexible Packaging
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
