March 15, 2019
Aseptic Packaging Market will exceed USD 70 billion up to 2024.Growing demand from consumers for convenience foods and ready-to-eat meals will increase aseptic packaging market over the forecast period. Consumer demand for sterile and safe food has positively influenced several food service entities and retailers to use aseptic packaging products. This factor will drive industry growth owing to an increase in applications by end-user industries.
The aseptic packaging market is driven by end-user industries in developing economies due to rapid industrialization. For instance, rising public and private investments in food and beverages manufacturing unit accompanied by the growing GDP in Asia Pacific region, especially in China, India, Vietnam, and Nepal, will boost aseptic packaging market.
One of the driving factors promoting market growth is increasing the preference for eco-friendly packaging by consumers. Regardless of the challenges faced by eco-friendly packaging in the context of fatal sterilization, the demand for convenience food from end-user industries is positively growing the market. Moreover, aseptic allows a longer product life, which will benefit the market to generate demand from the dairy industry by the preserving the food nutrition value of milk.
The cost of initial investment is high owing to the implementation of new equipment and modern technology in manufacturing units, which will restrict the market growth. The cost of aseptic packaging product can be higher than conventional packaging product due to the growing research and development cost, which is one of the factors that will restrain the market growth.
In 2016, aseptic cartons accounted for over 26% of the global aseptic packaging market. The carton product market gains will be favored by their wide applications in the milk packaging industry. Other factors driving the market are the increasing consumption of liquid food and dairy products with favorable consumption trends in beverages industry such as ice-tea and soy milk.
Rising product applications in the beverages industry owing to sustainable properties of aseptic packaging, such as protection from deterioration of perishable beverages by minimizing the risks in un-refrigerated trucks at different ambient temperatures, will foster growth in the market. Gains in the food industry will be supported by growing applications in liquid, low-particulate, and pumpable food products, replacing conventional packaging products and driving the market over the forecast timeframe.
Asia Pacific will witness rapid growth owing to the growing end-user industry such as food, beverage, and dairy packaging sector in the region. In 2016, China alone will account for over 24% of the global aseptic packaging market value. Followed by North America, the market will exhibit a significant growth in the beverage industry due to high beverage consumption in the region.
Key market share contributors are DuPont, Amcor Limited, Tetra Laval, Scholle IPN, Krones AG, Lamican International, Sealed Air, Ecolean AB, Goglio, Printpack, Agropur, and IPI.