Aseptic Packaging Market to Reach $85.47 Billion by 2024

The global aseptic packaging market is expected to reach $85.47 billion by 2024, according to a new report by Grand View Research Inc., San Francisco, Calif., USA. Aseptic packaging allows the end -users to meet the consumer demand for sterile and safe food and pharmaceutical products. The technology offers extended shelf stability at ambient temperature, which eliminates the need for refrigeration. As a result, aseptic packaging is expected to witness high demand from the food service entities and retailers.

 

Aseptic packaging manufacturers supply their product either in the form of rolls or blanks. The roll-fed filling technique dominates the market and has been adopted by the major manufacturers such as Tetra Pak, whereas, companies such as Elopak and SIG have adopted the blank filled systems. These two technologies are not interchangeable since the process and equipment associated with these two methods are different. As a result, buyers are unable to switch from one process to the other. High capital investment is likely to be a key restraining factor for the industry.

Investment, divestment, capacity expansion, and new product development are the key strategies adopted by the major players to strengthen their position in the market. The industry players are likely to invest more on R&D and innovation due to continuously changing demand from end-users in terms of product quality, performance, and appearance. The major manufacturers are likely to adopt acquisition strategies to meet the rising consumer demand and cope with the new technologies.

The full research report with TOC on Aseptic Packaging Market Analysis by Product (Cartons, Bottles, Bags, and Pouches, Prefilled Syringes, Vials and Ampoules), by Application (Food, Beverage, Pharmaceuticals) and Segment Forecasts to 2024 can be viewed online. 

 

Key findings from the report suggest: 

• Food was the key application segment for the industry and is expected to grow at a CAGR of more than 11% during the next eight years. The process is carried out at lower temperatures. Thus the texture, appearance, flavor, and nutritional value of the products remains unaffected. In addition, lightweight and recyclability offered by aseptic packaging are expected to have a positive impact on the industry growth during the forecast period.
• Prefilled syringe demand in the industry was valued at more than $4.5 billion in 2015 and is expected to grow at a CAGR of more than 11% from 2016 to 2024. Advances in biotechnology and rising demand for biologics is anticipated to drive demand during the eight years. The technology offers safety against drug degradation and contaminants. Furthermore, it eliminates the need for refrigeration and thus lowering the cost associated with the maintenance of the product.
• Asia Pacific is expected to be the fastest growing market due to rapid growth of the food and beverage packaging sector in the region. China was the largest market for aseptic packaging in Asia Pacific and accounted for more than 50% of the regional demand in 2015. Increasing consumer disposable income and changing dietary habits in countries such as India, China, Japan, and Korea are expected to raise demand for packaged ready-to-eat meals, frozen meat, and juices, which is anticipated to have a positive impact on industry growth during the projected period.
• Key players in the industry include Robert Bosch GmbH, Tetra Pak International S.A., Greatview Aseptic Packaging Co., Schott AG, SIG Combiboc Obeikan, Reynolds Group Holdings, and Agropur Inc.