Market Trends of Milk Packaging Industry
Paperboard to Witness Significant Demand
- Increasing awareness about eco-friendly packaging materials created significant traction in milk packaging worldwide. The paperboard segment is projected to be the fastest-growing milk packaging material due to its recyclable properties. Growing awareness associated with the environment is expected to include a positive impact on the paperboard packaging segment, owing to its recyclable features.
- It offers extra protection to the stored product and increases shelf life. Moreover, the information imprinted on the packaging is clear and highly visible, likely to propel market growth.
- In addition, it omits the option of plastic or any other packaging, which can harm the environment. The abovementioned factors are projected to fuel the utilization of paperboard packaging for milk over the forecast period. Paperboard production for packaging is increasing worldwide due to its benefits, like its recyclability and decomposable property.
- Major companies are opting for paperboard packaging in line with the increasing adoption of paperboard packaging. For instance, in August 2022, Liberty Coca-Cola launched Coca-Cola in KeelClip paperboard packaging, replacing traditional plastic rings to hold the beverages together.
- The German paper packaging business is expanding, as seen by the rise in revenue from EUR 13.6 billion (USD 14.5 billion) in 2017 to EUR 16 billion (USD 17 billion) in 2022, according to Statistisches Bundesamt. Paper packaging is frequently considered more ecologically friendly than other packaging materials, such as plastics. The need for eco-friendly packaging options like milk paper packaging is set to increase as sustainability becomes a bigger issue for both consumers and companies.
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Asia-Pacific to Witness the Highest Growth
- The Asia-Pacific region includes a high potential for lactose-free dairy products as healthy alternatives to lactose products, which will likely complement milk production, propelling the market growth.
- In addition, the population in the region is usually tolerant of lactose-containing products, which creates new avenues for lactose-free products. Also, the growing concerns over child nutrition are projected to complement milk consumption, thus propelling the market.
- The rising availability of packaged dairy products through various retailing channels owing to the rising population with an increasing consumer preference towards protein-based products are some of the factors helping the adoption of dairy-based packaging in the APAC region. It is also expected to contribute to the market growth.
- Increasing disposable incomes and population fuels the demand for staple food in the region. Increased consumption of dairy products is prominent in enhancing child nutrition and boosting the lives of farmers in the region.
- Furthermore, the increased standard of living and aging population further increase these markets' popularity. Higher disposable income in developing countries such as India and China increases the purchasing power of customers. Hence, consumer dependence on processed, pre-cooked, and packed foods will likely increase. Such customer spending and preferences changes are expected to contribute to market growth.
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