The
global
aseptic packaging market
is expected to see a healthy growth in the forthcoming years,
according to a recent report by Transparency Market Research (TMR).
The global market consists of competitive vendors that are focusing
on multiplying their production capacities, due to surge in consumer
demand. Players are investing heavily towards research and
development in this sector, in order gain an edge over their
competitors. They are seen adapting their product in order to meet
consumer’s changing inclinations, and upgrading their product
portfolio ion terms of quality, performance and appearance, in order
to fortify their market position.
The vendors may have to a moderate
capital in order to keep up with the technological aspects demanded
by the industry, which is constantly evolving. Additionally, some
regulations adopted by government that require the use of
‘biodegradable’ raw materials in order to ensure that the
packaging is ecologically sustainable, may hamper the entry of new
players to some extent.
However, the rising health
awareness among consumers are encouraging players in introducing
innovative products in the arena of aseptic packaging. The market’s
competitive landscape is currently consolidated, with the presence
handful number of global players. Some of the prominent vendors
operating in the global aseptic packaging market are Greatview
Aseptic Packaging Company, Schott AG, Elopak, Tetra Pak, and SIG
Combibloc.
TMR projects the global aseptic
market to expand at a 10.0% CAGR over the forecast period 2017 to
2024. Based on the revenue, the market is envisaged to reach US$80.49
bn by 2024, from an estimated US$41.31 in 2017. The report predicts
that among the end-use industries, the segment of pharmaceutical is
prognosticated to emerge as the prominent segment. Geography-wise,
the region of Asia Pacific is forecasted to be the most promising
regional market over the forecast period, projected to hold nearly
40% of the global market revenue.
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Burgeoning
Demand from Food and Beverage Industries to Fuel Market
There is an augmented need for
aseptic packaging solutions in the food and beverage industry on
account of the growing demand for packaged foods, which are rich in
nutrients and promote health and wellness among consumers. Moreover,
curtailed distribution costs has ensnared the preference for aseptic
packaging in the F&B sector, which is likely to boost the overall
growth prospects for the global aseptic packaging market in the
following years. Additionally, the need to improve the product’
shelf-life and preserve product’s quality without using
preservatives are key factors fuelling the growth of the global
aseptic packaging market.
Increased Food Safety
Awareness to Provide Rich Market Opportunity
A key trend gaining traction in
the food and beverage sector shows that ‘sustainable’ packaging
and manufacturing practices are being adopted across the industry.
The growth of tea, healthy juices, and dairy-based drinks requires
alternative technologies in place of traditional hot fill based
approaches that limit the flavor of the product. Additionally,
aseptic packaging is influenced by shifts in preferred package
formats and food processing advances that enable flash pasteurization
and continued the rise of single-serve bottle-based packaging.
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