The aseptic packaging market size was valued at USD 53.77 billion in 2020. The market is projected to rise from USD 59.06 billion in 2021 to USD 121.96 billion by 2028 at a 10.9% CAGR during the forecast period 2021-2028. Fortune Business Insights™ has deep-dived into these insights in its latest research report, titled, “Aseptic Packaging Market, 2021-2028.”
According to the analysis, aseptic packaging solutions will gain traction to prevent contamination across the end-use sectors, including food beverage and pharmaceuticals. Some of the factors, such as thermal stability, chemical resistance and lower level of contamination, are likely to augur well for the business outlook.
COVID-19 Impact
Shutdown of Manufacturing Facilities to Dent Industry Outlook
The COVID-19 pandemic had a massive toll on the expansion of aseptic packaging materials across developing and developed countries. The penetration of packaging technologies witnessed a dip, partly due to moderate demand from the food beverage sector. That said, strong demand for sterilized packaged food products encouraged investments in the landscape. Industry players expect the healthcare industry to exhibit profound demand for packaging technology.
Segments
In terms of material, the market is segregated into metal, plastic, paper paperboard, glass, and others.
Based on type, the market is segmented into bags pouches, cartons, bottles cans, vials ampoules, and others.
With respect to application, the market is fragmented into pharmaceutical, food, beverages, and others.
On the basis of region, the market includes North America, Asia Pacific, Europe, the Middle East Africa, and Latin America
Report Coverage
The report highlights top-down and bottom-up approaches to offer a holistic view of product mapping of both emerging players and well-established companies. Besides, primary sources, including interviews with major stakeholders and opinion leaders, have also been used in the report-making. The report includes secondary sources, such as SEC filings, press releases and website reports, fostering the veracity of the report. The report includes qualitative and quantitative analysis to provide a comprehensive view of the global market.
Drivers and Restraints
Trend for Natural Food Beverage Products to Bolster Industry Forecast
Millennials and the Gen Z population are slated to exhibit traction for organic and natural food products in the ensuing period. The palpable shift towards natural food beverage products has prompted the development of quality packaging that can keep food fresh. Stakeholders expect the solution to boost shelf life, fostering the aseptic packaging market growth. Moreover, soaring demand for pharmaceutical drugs has fared well for leading companies vying to bolster their footfall.
Meanwhile, potential environmental impact, as well as the high cost of packaging, could impact the adoption of the packaging materials.
Regional Insights
Stakeholders Tap Asia Pacific Market to Gain Strategic Hold from Pharmaceutical Sector
Leading companies are likely to explore potential growth opportunities across China, Japan, Australia and India, largely due to the demand from the pharmaceutical sector. Burgeoning population across the emerging economies could provide promising opportunities in the ensuing period. Besides, the growing footprint of bread confectionary and cosmetics will trigger investments across Asia Pacific.
The North America aseptic packaging market share will witness a commendable gain during the forecast period, partly attributed to investments in the healthcare sector. At the time when the demand for better healthcare has peaked in the U.S. and Canada, packaging technologies will continue to receive impetus.
Stakeholders predict the Europe market outlook to be strong on the back of soaring demand for alcoholic and non-alcohol beverages. In a bid to prevent contamination, end-users are likely to seek aseptic packaging materials. Advanced packaging solutions will be sought-after across the U.K., France and Germany in the ensuing period.
Competitive Landscape
Leading Companies Emphasize Strategic Approaches to Bolster Footfall
Both well-established players and new entrants are likely to invest in product launches, mergers acquisitions, technological advancements and RD activities. Prevailing trends indicate leading companies are slated to focus on geographical expansion during the forecast period.
Key Industry Development
- July 20201 – Tetra Pak and Stora Enso entered into an agreement to triple the recycling capacity of beverage cartons in Poland. The two companies will partner to provide circular solutions to the market with total investment is USD 32.8 million. The line will triple the annual recycling capacity of used beverage cartons in Poland from 25 KT to 75 KT tons.
Major Players Profiled in the Market Report:
- Amcor Limited (U.K.)
- Tetra Laval S.A. (Switzerland)
- Greatview Aseptic Packaging Co., Ltd. (China)
- IMA Group (Italy)
- SCHOTT Glass India Pvt. Ltd. (India)
- DS Smith (U.K.)
- Elopak Group (Norway)
- SIG Combibloc Group Ltd. (Switzerland)
- Printpack (U.S.)
- Sealed Air Corporation (U.S.)
- Other Key Players
Information Source:
https://www.fortunebusinessinsights.com/aseptic-packaging-market-106589
