Milk is the most valuable protein food that widely consumed by people all over the world.
The milk plants include the fluid milk production, cheese production, yogurt production, ice cream production to make the huge variety of milk products like cheese, butter, cream, skimmed milk, yogurt, toned milk or double toned milk and much more. The milk processing industry in India will rise at an overall compound annual growth rate (CAGR) of 20.5%, and will be worth USD 53.17 billion by 2020.
Increasing urbanization, rising incomes, and the proliferation of food and grocery retail outlets across tier 2 and tier 3 cities has led to an increasing accessibility and demand for processed milk products in India. However, the Indian milk processing industry is yet to achieve its full potential due to challenges such as gaps in the supply chain, insufficient cold storage and distribution facilities, and lack of quality feed.
The U.S. market by was valued at USD 792.0 million in 2016 and is predicted to grow at a CAGR of 6.1% from 2017 to 2025. The U.S. dairy industry has experienced some major change over the past few years as the consumption of processed milk products is increasing significantly and production of the same is declining. Moreover, reduction in cow number and increasing per capita consumption of milk are some of the major challenges witnesses by the country.
The milk packaging market is expected to register a CAGR of 2.77 % during the forecast period (2018-2023). The rise in production of milk across the globe is expected to have a positive impact on the market growth over the forecast period. Furthermore, the correct choice of packaging material in accordance with the weather conditions helps in ascending shelf life of the product which is likely to boost the utilization.
Apart from providing safety and hygiene of products, it enables differentiation of products of two distinct companies or competitors. Moreover, increase in demand for single serve milk packs is estimated to fuel the growth of the global milk packaging market during the forecast period. In addition, several health & nutritional benefits associated with the use of packaging materials have fueled the demand for milk in the recent years, which is expected to drive the global market during the forecast period.
The global milk packaging market is segmented based on packaging type, material, and geography. On the basis of packaging type, it is categorized into cups, cans, bottles, pouches, and others. Based on material, it is classified into glass, plastic, metal, paperboard, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
