Global Aseptic Packaging Market: Increasing Consumption of Packaged Meals Ups Demand, Says TMR
The competitive landscape in the global aseptic packaging market is quite consolidated. Transparency Market Research states that Tetra Pak alone held a dominant share of about 65% in the global market in 2015. However, several players are focusing on the potential of emerging economies that offer cheap labor and low cost of raw materials to set up manufacturing units.
According to the research report, the global aseptic packaging market is expected to reach a valuation of US$80.49 bn by the end of 2024 as compared to US$34.42 bn in 2015. Between the forecast years of 2016 and 2024, the global market is projected to expand at a CAGR of 9.9%. The steady growth of the global aseptic packaging market will be attributable to the emergence of pharmaceutical industry that is focusing on the need better packaging methods of products.
Asia Pacific Emerges as Key Regional Segment as Food and Beverages Industry Flourishes
In terms of end user, the global aseptic packaging market is segmented into pharmaceutical, beverages, dairy, food, and others such as personal care. Analysts expect that the pharmaceutical industry will be the key user of the aseptic packaging in the coming years as the sales of medical consumables continues to be on the rise. The emergence of the pharmaceutical industry in Asia Pacific is also expected to fuel the soaring sales of aseptic packaging products in the coming years. Analysts believe that the dairy industry is also likely to be a key end user segment in the global aseptic packaging market.
Geographically, the market is fragmented into Europe, Asia Pacific, North America, and the Middle East and Africa. Presently, Asia Pacific is the key consumer of the aseptic packaging products in the global market. As of 2015, this region accounted for about 32% share in the global market. The regional market is predominantly being driven by the booming food and beverages industry in the region along with the flourishing pharmaceutical industry. Analysts expect that China will lead the regional market to newer heights in the coming years as the emerging economy is focused on production and manufacturing of various products.
Improved Shelf-life of Products Augments Demand for Aseptic Packaging Products
The growing awareness amongst consumers about the benefits of aseptic packaging is the primary growth driver for the global market. Aseptic packaging primarily allows consumers to maintain the quality of food items for a longer period of time. The ability of this packaging method to enhance the shelf-life of the items has boosted the market’s growth in the past few years. Analysts predict that the increasing consumption of ready-to-eat meals and other packaged food items will drive the global market in the coming years, especially amongst the urban population.
The market will also be fueled by the increasing sales of cartons, which are being preferred over glass packaging materials as they are easy to dispose. The report estimates that the demand for cartons is estimated to escalate as their production releases lesser amount of emissions in the environment as compared to production of PET products.
Capital-intensive Nature of Manufacturing Setups to Restrain Market Growth
Despite the steady growth drivers, the global aseptic packaging market is likely to be challenged by a few factors. The complicated process of manufacturing aseptic packaging products is the key restraint in the global market. The high capital investment required to setup production plants and manufacturing units is expected to act a major restraint in the global market.
This review is based on Transparency Market Research’s report, titled “Aseptic Packaging Market (Product - Bottles (Glass, Plastic), Cartons, Vials, Prefilled Syringes & Ampoules, Bags & Pouches; End-user - Food, Dairy, Beverages, Pharmaceutical) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
For this study, the market has been segmented as follows:
Aseptic Packaging Market - Product Analysis
- Bottles (Glass, Plastic)
- Vials, Prefilled Syringes & Ampoules
- Bags & Pouches
- Others (Cups)
Aseptic Packaging Market - End-user Analysis
- Others (Personal Care, etc.)
Aseptic Packaging Market - Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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