The global aseptic packaging market analysis 2020 offers a steady compound annual growth rate (CAGR) from 2017 to 2023, making a high market valuation. This growth report has been stated by Market Research Future.
Top Market Contenders
The top players in the global Aseptic Packaging market report are Tetra Pak International S.A. (Switzerland), Amcor Limited (Australia), SIG Combiboc Obeikan (Switzerland), Greatview Aseptic Packaging Co., Ltd.(China), ELOPAK Group (Norway), Reynolds Group Holdings Limited (U.S.), Molopak LLC (Russia), Sealed Air Corporation (U.S.), and SIG Combibloc Group AG (Switzerland).
Key Drivers Barriers
The global aseptic packaging market size has shown remarkable growth in support of factors such as rising demand for transportation for longer distances. This is creating a need for extending the shelf life of the product. Also, the growth in the milk and dairy products markets worldwide is creating ample opportunities for the growth of the market for the forecast period.
The growth aspects in the aseptic packaging market are also driven by the ability of the packaging to cater to the need for high and uniform product quality, downgauging of packaging, call for higher nutrient retention, and to avoid the bisphenol A (BPA) controversy. Aseptic packaging has also been able to meet all these demands while escalating the shelf-life of selected products by an approximate time of six to twelve months without refrigeration.
Aseptic packaging, in the current time, has become a sturdy substitute to canning and the use of preservatives for rising shelf-life. There is a requirement for high initial investment for material and packaging machinery that are exact to this process, the ROI achieved owing to the reduced cost of cold chain logistics and distribution, as well as preservatives, has allowed manufacturers to reap benefits within three to five years. These factors have also been impulsive towards the growth of the global aseptic packaging.
MRFR, in its study, has also mentioned that the beverage industry has acquired the largest market share, driven by factors such as dairy, high consumption of milk, and RTD beverages, particularly from the Asia-Pacific region, which has proposed a significant augment in adopting aseptic cartons and pouches. In fact, the trend has been augmented by favorable consumption in ready-to-drink premium wellness beverages and product differentiation advantages for beverage packaging across the globe.
The Asia Pacific region leads the global aseptic packaging market, and it is anticipated to observe the highest growth throughout the estimated period. Mounting demand for packaged food, emphasis on product safety, and changes in the food manufacturing industry has been driving the market growth to a great extent. In fact, the rising population and changing food habits are more factors driving demand for aseptic packaging. Also, rising liquid food and dairy beverage applications and mounting consumption of ready-to-eat food are creating demand for aseptic food further in the Asia Pacific region.
The auction of aseptic packages proliferated in China, by registering a sales volume of about 80 billion units over the period 2013-2016. As per the USDA, China’s demand for imported dairy products is likely to rise. However, China’s disciplinary tariffs on the US dairy products are anticipated to make it complex for US dairy companies to take advantage of this situation, thus, opening up an opportunity for local vendors.
Segmentation of Market: Aseptic Packaging
The global Aseptic Packaging market has now studied among various segments, such as material, type, and application.
Among the material segment, the market has included metal, plastic, paperboard, and glass.
Among the type segment, the market has included bottles cans, cartons, ampoules, bags pouches, and others.
The application segment has included beverages, pharmaceuticals, food, and others. The market is analyzed across the Americas, Europe, Asia-Pacific, and the Middle East Africa.
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