Aseptic Packaging Market Size Worth Over $90.53 billion by 2027
Published Date: July 1, 2021 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights Inc., the Aseptic Packaging Market size is forecast to exceed USD 90.53 billion by 2027.
Aseptic packaging is one of the widely used packaging types. It is used in a wide range of industries including food & beverage, dairy, personal care, and pharmaceutical, among others. It offers versatile properties such as high tensile strength, excellent impact resistance, good stiffness, and resistance toward moisture, oxygen, and light. Owing to its excellent features, it is beneficial for packaging food products such as fruits & vegetables, baby food, frozen food, fast food, dried & granule food, etc. Additionally, it is also used for packaging fresh food products such as fish and meat.
The growing dairy industry in various regions of the world will enhance the product demand over the coming years. Rising awareness about the nutritional benefits of dairy products, mainly milk, is the main factor driving this market.
Asia Pacific is the largest market in the global packaging industry. It is due to the major players shifting their manufacturing bases to the developing countries including China, South Korea, and India due to the easy availability of land and low labor costs. For instance, several European companies such as DSM Smith, SIG Combibloc Group, Tetra Pak, and Ecolean have marked their presence in the region through direct sales & production facilities and even technological partnerships with local players.
The rising demand for high-performance barrier packaging in the pharmaceutical industry will support the aseptic packaging industry growth. The product can be used for packaging medicinal pills, surgical instruments, syringes, and other medical accessories. A highly mature U.S. pharmaceutical manufacturing industry will also be a positive growth enabler for the aseptic packaging market. For instance, the global healthcare spending accounted for USD 7.07 trillion, out of which, the U.S. spent the highest, which was USD 3.3 trillion in 2015.
However, the stringent government policies regarding the use of plastics are likely to hamper industry growth. Nevertheless, technological developments in production processes of aseptic packaging solutions are likely to offer new growth opportunities to the overall aseptic packaging industry.
Browse key industry insights spread across 195 pages with 157 market data tables & 22 figures & charts from the report, “Aseptic Packaging Market Size, By Product (Bottles, Cartons, Vials & Prefilled Syringes & Ampoules, Bags & Pouches), By End-User (Food, Dairy, Beverage, Pharmaceutical), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
Surging application of cartons in food & beverage industry
The cartons segment is projected to witness the fastest growth during the forecast and will reach around 28% of market share by 2027. Aseptic carton packaging maintains the quality, taste, and nutritional value of the packaged product. Over time, a new multilayer carton structure has arisen that is specifically designed to provide a protective barrier for the filled products as well as package structural integrity and superior sealing capabilities. For instance, Tetra Pack aseptic cartons are made up of six layers that work together to create highly efficient, safe, and light packaging. The rising demand for beverages and dairy products across the Asia Pacific region would propel the sale of cartons over the forecast timeframe.
Growing dairy and dairy products industry across the globe
The dairy segment is projected to grow at a CAGR of 7.0% and reach around 27% of volume share by 2027. Dairy is an industry with unique requirements due to the perishable nature of its products. Aseptic packaging solutions keep dairy products pure and safe from exposure, preserving freshness and quality with extended secondary shelf life. As milk is the ruling product in the dairy market, global milk production also makes a huge change in the aseptic packaging market. The total supply of milk worldwide was reported to be 828.5 million tons in 2018 directly up by 16.7 million tons from 2017, registering one of its peak growth rates since 2014.
Europe to exhibit steady growth during the forecast period
Europe is the second largest market in the global aseptic packaging industry. In 2020, the region held around 26% of share in terms of revenue and is expected to grow at a CAGR of 4.9% during the assessment period. The Europe aseptic packaging market is majorly driven by the surging food & beverage industry within the region.
The European food & beverage industry turnover was above USD 1.4 trillion in 2020. Small & medium-sized enterprises accounted for around 49% of the total turnover and 62% of the employment in the food & beverage sector. France, Germany, the UK, and Russia are the key food & beverage markets in the region, accounting for approximately 67% of the overall market in 2020.
Some of the top players in the aseptic packaging industry include Amcor Limited, Krones AG, DowDuPont Inc., Agropur Cooperative, Scholle IPN, Ecolean Lamican International Oy, Tetra Laval International S.A., AB International Oy, Sealed Air Corporation, Goglio S.P.A, IPI SRL, and Printpack Inc. among others.
Major participants in the global aseptic packaging market are mainly focusing on expanding their product offerings and regional presence to maintain their position in the market. For instance, in June 2017, with the introduction of a new range of crystal-clear polyethylene terephthalate (PET) stock bottles and preforms, Amcor expanded its dairy, HPP, and aseptic packaging portfolios.