Aseptic Packaging Market size to exceed $70 billion by 2024
Published Date: September 9, 2019 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights, Inc., the aseptic packaging market size may exceed USD 70 billion by 2024.
Aseptic packaging enhances the shelf life and minimalize the loss of aroma of the packed edible products. It keeps dairy products pure and safe from exposure to contaminants, preserving freshness and quality with extended shelf life. It helps cut down costs by eliminating costly cold chain logistics. Thus, this packaging format is gaining prominence among dairy products manufacturers and suppliers.
Automation and digitalization are also going to greatly impact the aseptic packaging process in the coming years. New digital solutions will enable to enhance manufacturers efficiency, ensure food safety, cut down cost and boost aseptic packaging market growth. For instance, Tetra Pak is piloting remote monitoring technology provided by Microsoft’s HoloLens and provides future ready services such as real time data access through apps and E-beam for packaging, sterilization and more.
Aseptic carton packing maintains the nutritional values, quality and taste over time as well as protects the content from exposure to contaminants. New multilayer carton structure has emerged over time which is specifically designed to guarantee a protective barrier for the filled products, structural integrity to the package and excellent sealing properties. For instance, Tetra Pack aseptic cartons are made of 6 layers that together result in a very efficient, safe and light-weight package. This aseptic packaging market segment will grow at CAGR close to 8% during the forecast timespan.
Browse key industry insights spread across 298 pages with 397 market data tables & 26 figures & charts from the report, “Aseptic Packaging Market By Product (Bottles, Cartons, Vials & Prefilled Syringes & Ampoules, Bags & Pouches), By End-user Industry (Food, Dairy, Beverage, Pharmaceutical), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Dairy is a prominent application segment in global aseptic packaging market share due to growing milk production in Asia and rising demand for hygienic packaging will drive this segment. Other end-user segments which includes cosmetics, agricultural chemicals, etc., shall have substantial CAGR during the forecast timeframe. The product is used in personal care products such as hand sanitizer, lotion, soap etc. to maintain their freshness and purity.
North America is an important food & beverage sector which accounted for more than 15% share in global retail value sales in 2016. Awareness about the benefits of consuming fresh food items has also led to rising demand for fresh packaged food products such as meat, dairy products, fish, etc. This would result in high aseptic packaging market demand in the region as it does not include preservatives and elongates the shelf life of the products.
A highly mature U.S. pharmaceutical manufacturing industry will also be a growth enabler for the aseptic packaging market. For instance, global healthcare spending in 2015 accounted for USD 7.07 trillion. Out of which U.S. spent the highest which accounted to be USD 3.3 trillion whereas Middle East and Africa spent USD 112.7 billion. Hence, medical industry in North America is a potential market for the product.
Canada’s market growth will be chiefly fueled by the flourishing medical sector in the country. The country’s healthcare spending in 2016 was more than one-tenth of its total GDP. These factors will fuel product demand in the coming years.
The prominent players operational in aseptic packaging industry share include Sealed Air Corporation, Scholle IPN, Amcor Limited and Tetra Laval International S.A. Product portfolio expansion, mergers & acquisitions are strategies adopted by companies in this industry to maximize their customer reach and deepen market penetration. For instance, Amcor Limited expanded its product portfolio in 2017 by launching a series of PET bottles and preforms for dairy, aseptic and HPP liquid beverages.