Milk Packaging Market Is Expected To Grow At A CAGR Of 4.3% Over The Forecast Period From 2018 To 2026: Increasing Demand For Flavored Milk Is Driving The Market Growth
The latest market report published by Credence Research, Inc. “Milk Packaging Market, By Type (Paperboard Cartons, Cans, Bottles, Pouches and Others), Application (Glass, Plastic, Metal, Paperboard and Others) and Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Growth, Future Prospects and Competitive Analysis, 2018 - 2026,” the global milk packaging market is expected to grow at a CAGR of 4.3% over the forecast period from 2018 to 2026
One of the key factors driving the global milk packaging market is the rising demand for packaged milk owing to modernization in lifestyles. The high demand for milk and milk products especially bottled and flavored milk will fuel the overall growth of the market. Over the past few years, the milk packaging industry has witnessed a significant increase in demand for cartons and rigid packaging especially for packaging flavored milk.
Also, increasing usage of packaged milk especially from small households since consumers desire for single serve milk packs is another major aspect driving the market growth. Furthermore, rising number of health conscious consumers is driving the overall demand for milk owing to several health benefits associated with milk as well as introduction of packaged milk with added nutrients are some other major aspects propelling the overall growth.
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The global milk packaging market is witnessing a steady growth owing to increasing number of new market entrants coupled with rapid growth of the global paperboard packaging industry. Some of the major players operating in the global milk packaging market include Reynolds Group Holdings Limited, Saint-Gobain S.A., Alcoa Inc., , Tetra Laval International S.A., , Essel Propack Pvt. Ltd., Global Closure Systems, Exopack Holdings Corp., , Graham Packaging Company Inc., SF Holdings Group Inc., and RPC Group plc among others.