The market for Aseptic Packaging is expected to reach US$ 42.93 Bn in 2028.
The global aseptic packaging market is increasing substantially, projected to expand at a CAGR of 11.3% during the estimated period from 2019 to 2027, starting from US$ 42.93 Bn in 2018. The global aseptic packaging market volume is growing significantly, anticipated to expand at a CAGR of 5.5% throughout the projected period from 2019 to 2027, starting from 355 Bn units in 2018.
The growing beverage industry and changing consumer lifestyles worldwide are anticipated to drive market growth. The global non-alcoholic beverage industry volume worldwide in 2018 was around 990.0 Bn liters and is expected to reach more than 1.3 Tn liters by 2025. Electronic logistics processing and consumer shift against food preservatives are other key factors projected to enhance market growth over the forecast period. In addition, aseptic packaging has numerous benefits such as reducing the probability of germs presence, e-tracking friendly, convenience, strong efficiency, protection nutritional content, and no refrigeration required, which is expected to support the market growth during the forecast period.
The rising packaging industry and new product development by key market players are some other major factors expected to boost the market demand in years to come. For instance, in April 2019, Amcor launched a unique, high-barrier flexible packaging AmLite Ultra Recyclable packaging product. The Amite Ultra Recyclable product can reduce carbon footprint by up to 64%, which is expected to provide more sustainability to products and can be used for packaging food, pharmaceutical, and personal care products, among others. However, the need for greater technological understanding and high capital investment are some restraints expected to hinder the market growth over the forecast period. In addition, different environmental mandates across nations and high research & development are some challenges that are anticipated to be overcome by the market players during the forecast period.
In 2018, the beverage segment was dominant in revenue and volume in the global aseptic packaging market. The aforementioned segment has nearly 40% global market revenue share and nearly 45% sales volume share in the same year. Worldwide growth in the beverage industry and increased demand for quality & convenience products are the major factors for the segment's dominant position in 2018. The global beverage industry in 2018 was valued at more than US$ 1.6 Tn and is expected to reach over US$ 1.9 Tn by 2023 with a CAGR of around 3.5%.
The rising demand for ready-to-drink beverages such as energy drinks, flavored water, vegetable juices, smoothies, and others is expected to further enhance the segment growth in future years. In addition, the growing disposable income and launch of new ready-to-drink products by major market players are some other prominent factors anticipated to drive the segment demand over the forecast period. For instance, in the U.S., in 2018, with the North American Coffee Partnership (NACP), PepsiCo and Starbucks expanded their ready-to-drink portfolio with the launch of new products such as Starbucks Doubleshot Coffee Smoothies. Therefore, the beverage segment is projected to continue its dominance throughout the forecast period.
The Asia Pacific accounted for the largest share of the aseptic packaging market in 2018. The Asia Pacific contributed to over 1/3rd of the market share globally in the same year and more than 40% of the market share in volume terms. The region's rising consumer spending and growing food & beverage industry are the major factors for the dominant position of the region. According to a recent report, the Asia Pacific eating out average growth rate was 9.8% during 2006-2016 and is expected to show an average annual growth rate of 7.5% over the forecast period. A surge in stringent government regulations and the growing adoption of technology are other major factors driving regional growth over the forecast period. In addition, the increasing concern for product safety and shelf life is one of the promising factors anticipated to enhance regional growth further.
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
o Dairy Foods
o Processed Foods, Fruits and Vegetables
o Soups and Broths
o Baby Food
o Meat & Sea Food
o Fruits & Vegetables
o Rest of the Food Industry
o Milk and Other Dairy Beverages
o Ready-to-Drink Beverages
o Fruit Beverages
o Prefilled Syringes
o Bottles
o Vials and Ampoules
o Iv Bags
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the overall aseptic packaging market better. The global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.
The market for Aseptic Packaging is expected to reach US$ 42.93 Bn in 2028.
The Aseptic Packaging market is expected to see significant CAGR growth over the coming years, at 11.3%.
The report is forcasted from 2019-2027.
The base year of this report is 2021.
SCHOTT AG, Greatview Aseptic Packaging Co., Ltd., Amcor PLC,Reynolds Group Holdings Limited, Tetra Laval International S.A., Robert Bosch GmbH, DuPont de Nemours Inc., Sealed Air Corporation, SIG Combibloc Group AG, Coveris Holdings S.A. are some of the major players in the global market.