Global Milk Packaging Market to Grow at 3.35% CAGR through 2020

Research and Markets, Dublin, Ireland, has announced the addition of the Global Milk Packaging Market 2016-2020 report to its offering. The global milk packaging market is projected to grow at a CAGR of 3.35% during the period 2016-2020. Amcor, Evergreen Packaging, and Tetra Pak are some of the prominent vendors in this market.

The report covers the current scenario and the growth prospects of the global milk packaging market for the period 2016-2020. To calculate the market size, the report takes into account the total revenue generated by regular milk and flavored milk packaging vendors from different geographical regions. The report also includes a discussion of the key vendors operating in this market.

The rise in the number of small households has led to increased demand for single serve packs of consumer products in the mass consumption branded category. This preference for single serve packs fuels opportunities for brand switching, as consumers are not committed on consuming large volumes at a time but rather buy products regularly. 

Another factor of increased market for single serve is that merchants opt for packaged products that use less shelf space to stack more items. They also prefer attractive packaging to spur sales. The introduction of single-serve milk packaging is providing tremendous opportunities for milk manufacturers to reach a larger market. Therefore, the growing demand for single serve milk packs will drive the global milk packaging market.

According to the report, one of the major factors driving the growth of the milk packaging market is the growing demand for milk from developing countries. The rate of milk consumption is high in the developing economies in APAC such as India and China, which is driving the growth of the market.

Further, the report states that the fluctuation in the price of raw materials such as aluminum, plastic, and paper is expected to restrict the growth of the milk packaging market during the forecast period.

More information is available online.