Newark, NJ, July 22, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global aseptic packaging market is expected to grow from USD 38.16 billion in 2019 and to reach USD 81.22 billion by 2027, growing at a CAGR of 9.9% during the forecast period 2020-2017.
The aseptic packaging market is witnessing significant growth from the past years. This growth is attributed to shift in consumer preference against the use of food preservatives. For instance, in 2017, Uflex a India-based flexible packaging manufacturer invested more than USD 85 in aseptic packaging business. However, the changing lifestyle of the customer in emerging economies has increased demand for aseptic packaging. Thus, the increase in demand for food and beverage industry and rise in demand for ready-to-eat food has increased the demand for aseptic packaging market.
A specialized manufacturing process in which pharmaceutical, food, or other contents are sterilized separately from packaging is known as aseptic packaging. Aseptic packaging is growing its popularity in the manufacturing industry. This method requires extremely high temperature so that it maintains the freshness of the contents and also ensures that it is not contaminated with microorganisms. It is used for various food products like soups, milk, pudding, tomatoes, and many others. It is used in the pharmaceutical industry to ensure that the medications are not polluted with harmful bacteria. Thus, the increasing need for aseptic packaging is boosting the market growth.
Global aseptic packaging market is expected to witness significant growth, owing to increased urbanization and growth of packaging industry, increase in demand for food and beverage industry, rise in demand for ready-to-eat food, cake mixes, dairy products, snacks and others. Increasing consumption of low-calorie food, healthy food, and dairy products among individuals from all age groups is expected to propel the market growth. Strict government regulation on packaging plastic in several countries is a challenging factor that affects the growth of global aseptic packaging market.
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Key players operating in the global aseptic packaging market include Tetra Pak International S.A., Reynolds Group Holdings Limited, SIG Combibloc Group AG, Greatview Aseptic Packaging Co., Ltd., ELOPAK Group, SIG Combiboc Obeikan, Amcor Limited, Sealed Air Corporation, and Molopak. To gain the significant market share in the global aseptic packaging market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Greatview aseptic packaging co. ltd., IMA S.P.A, and Scottish AG are some of the leading manufacturers of aseptic packaging market.
- For instance, in February 2017, Tetra Pak invested around USD 25.3 million for its plant for packaging closure in Southeast Asia. This was done to help the company to expand its business in developing the Asian market.
- In December 2016, Detmold Flexibles was acquired by Amcor for USD 500 million. This acquisition has enabled Amcor’s flexible packaging business to improve the customer value in packaging market.
Bottles and cans dominated the market and held the largest market share in the year 2019
On the basis of type, the global aseptic packaging market segment is classified into bottles and cans, cartons, and bags and pouches. Bottles and cans dominated the market and held the largest market share of 11.76% in the year 2019. This is attributed to its usage in the food and beverages sector, and increasing demand for cartons from milk and dairy industry.
Beverage segment dominated the market and held the largest market share of 35.17% in the year 2019
On the basis of application, the global aseptic packaging market segment is classified into beverage, food, and pharmaceuticals. Beverage dominated the market and held the largest market share of 35.17% in the year 2019. This is attributed to growth of daily beverage market, and rising demand for convenience and quality of food product.
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Regional Segment of Aseptic Packaging Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global aseptic packaging market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific region accounted for the major market share of 53.61% in the year 2019. The growth is mainly due to rising demand for packaged food and beverages, change in consumer lifestyle, and rising demand for natural products with no additives such as flavoured milk, juices, and liquor.
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About the report:
The global aseptic packaging market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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