The global aseptic packaging market is foreseen to gain a large impetus due to the need to preserve the quality and longevity of pharmaceutical, dairy, and food and beverage products.
There is a massive demand for packaging techniques that could help achieve this goal without having to add any preservatives, and one of them is aseptic packaging. Companies have been launching new offerings to draw a high demand in the market. The recently released Tetra Fino Aseptic 100 Ultra MiM packaging allows the conversion of juice and dairy drinks into frozen dessert products such as ice cream.
A report by Transparency Market Research (TMR) has prognosticated the global aseptic packaging market to expand at a 9.9% CAGR between 2016 and 2024 to reach a valuation of US$80.49 bn by 2024 end. In 2015, the market held a valuation of US$34.42 bn.
Asia Pacific Outpaces Most Regions with China at Forefront
The world aseptic packaging market is envisaged to be pampered by the faster growth of Asia Pacific anticipated to show face during the aforementioned forecast period. This region could also earn a staggering revenue in the market as it accounted for a 32.0% stronger share in 2015. It is prophesied to gain prominence on the back of a prospering demand in sectors such as food and beverage and pharmaceutical. China could be a larger country-wise segment, heavily contributing to the growth of the Asia Pacific market. Besides the regional market, China is foretold to hold a vital position in the world market on the part of key application areas, the manufacture of low-cost product varieties, and the presence domestic producers.
Nonetheless, there could be growth opportunities birthing in other countries as well, including Argentina, Chile, and Brazil. Manufacturers could expect high returns in these countries in the coming years. However, developed regions such as Europe and North America are projected to exhibit a stagnant growth in the near future.
Pharmaceutical Banks on Amplified Consumption to Rank Ahead
Over the forecast horizon, the pharmaceutical sector is envisioned to display a greater demand for aseptic packaging, particularly in Asia Pacific. Across the world, the consumption of medical consumables has increased considerably, resulting into an augmented growth in the international aseptic packaging market. The dairy sector could be another medium of growth where vendors could cash in on the lucrative prospects created with the stable rise in the consumption of a variety of aseptic packaging therein. The food and beverage sector is forecast to offer ample of opportunities while riding on an extended variety of packaged beverages available and expanding product portfolio of beverages manufacturers.
The international aseptic packaging market could also achieve growth with the increasing global consumption of packaged and ready-to-eat food products. In developing economies, such types of food products are prophesied to attain a significant demand due to the busy lifestyle of urban dwellers. In comparison with polyethylene terephthalate (PET) and glass bottles, aseptic packaging is studied to be more environment-friendly, which could fortify its prominence in the packaging industry. Emissions considered harmful for the environment are released in relatively smaller quantity during the manufacture and disposal of aseptic packaging.
Companies such as SIG Combibloc Group AG, Ecolean AB, Sealed Air Corporation, ELOPAK Group, and Greatview Aseptic Packaging Co., Ltd. could make a mark in the worldwide aseptic packaging market. In 2015, Tetra Pak secured a 65.0% share in the market.