The increasing global population and dairy demand is projected to drive the global milk bottle market's growth during the forecast period. The Asia-Pacific region is predicted to witness prominent growth by 2032.
WILMINGTON, Del., April 19, 2024 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Milk Bottle Market Size, Share, Competitive Landscape and Trend Analysis Report by Capacity, By Application, By Material, By Closure Type: Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global milk bottle market generated $3,580.1 million in 2022, and is anticipated to generate $5,718.7 million by 2032, rising at a CAGR of 5.1% from 2023 to 2032.
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Prime Determinants of Growth
The growing population across the globe coupled with the growing demand for dairy and the rapid expansion of e-commerce & online grocery shopping due to on-the-go lifestyle are the factors expected to drive the growth of the global milk bottle market in the forecast period from 2023 to 2032. However, the rising raw material costs may limit market growth in the coming future. On the contrary, increasing emphasis on eco-friendly packaging and technological advancements and the innovations in design & functionality of milk bottles are expected to offer remunerative opportunities for the expansion of the milk bottle market during the forecast period.
Report Coverage & Details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2022 | $3,580.1 million |
Market Size in 2032 | $5,718.7 million |
CAGR | 5.1 % |
No. of Pages in Report | 290 |
Segments covered | Capacity, Application, Material, Closure Type, and Region |
Drivers | Growing global population and dairy demand Rapid expansion of e-commerce and online grocery shopping |
Opportunities | Increasing emphasis on eco-friendly packaging Innovations in design and functionality of milk bottles |
Restraints | Rising prices for essential raw materials |
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Capacity: 200 ML to 500 ML Sub-segment to Hold Major Market Share by 2032
The 200 ML to 500 ML sub-segment accounted for the largest global milk bottle market share of 35.1% in 2022 and is expected to hold major share by 2032. This significant growth is mainly because these bottles are perfect for city dwellers with limited storage, offering a compact solution that fits neatly in smaller refrigerators. Innovations such as resealable caps and ergonomic designs enhance functionality and user experience, appealing to those who prioritize convenience and efficiency in their busy urban lives.
Application: Milk Store Bottle Sub-segment to Flourish Immensely During the Forecast Period
The milk store bottle sub-segment held the largest market share of 58.9% in 2022 and is predicted to grow at the highest CAGR of 5.9% during the forecast period. This is mainly because glass milk storage bottles are particularly celebrated for their recyclability and durability. These bottles reduce waste and environmental impact significantly. In addition, their superior insulation properties help maintain milk freshness and extend shelf life by effectively shielding contents from light and air. Moreover, these bottles offer dairy companies an opportunity to enhance their brand recognition and consumer connection through creative designs and customized labeling, standing out in a competitive market.
Material: Glass Sub-segment to be the Most Dominant During the Forecast Period
The glass sub-segment accounted for the largest global milk bottle market share of 53.7% in 2022 and is anticipated to rise at the highest CAGR of 5.9% during the forecast period. This significant growth is mainly due to its non-reactive nature, ensuring milk retains its freshness and flavor without influence from external odors. Glass bottles are also highly durable and recyclable, supporting repeated use and sustainability, which aligns with the growing consumer demand for environmentally friendly packaging solutions. In addition, the aesthetic appeal of glass bottles enhances brand differentiation and consumer attraction by conveying quality and authenticity.
Closure Type: Screw Cap Sub-segment to Witness Substantial Growth by 2032
The screw cap sub-segment held the largest market share of 42.0% in 2022 and is predicted to grow significantly during the forecast period. This is primarily owing to the airtight sealing ability of screw cap, which preserves the milk's freshness and flavor. Screw caps are user-friendly, reducing spillage and enhancing ease of use, which appeals to a broad consumer base. Besides, their adaptability allows for distinctive branding opportunities, helping dairy businesses differentiate their products and enhance consumer loyalty through customizable packaging designs.
Region: Asia-Pacific Market to be Most Prominent During the Forecast Period
The milk bottle market in the Asia-Pacific region accounted for the largest share of 42.7% in 2022 and is predicted to continue to maintain its dominance and rise at the highest CAGR of 6.1% during the forecast period. This growth is mainly owing to the fueled by economic growth and rising disposable income of people, which has increased consumer spending on quality dairy products. Enhanced cold chain infrastructure has significantly supported the dairy sector, ensuring quality preservation during distribution. Moreover, innovative packaging designs in milk bottles provide effective branding opportunities, allowing dairy firms to enhance visibility and consumer engagement, thereby driving market growth.
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Leading Players in the Milk Bottle Market:
- Longshen Industrial
- bormioli rocco
- Huhtamaki
- Kadolta Packaging
- Meadwestvaco
- Amcor
- WWP Direct
- Gerresheimer
- tupperware brands
- Maharashtra Industries
The report provides a detailed analysis of the key players of the global milk bottle market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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