Global aseptic packaging market expected to generate revenue of around USD 79.48 billion by the end of 2024, growing at a CAGR of around 10.5% between 2018 and 2024. Growing demand for disposable equipment in the healthcare industry is expected to increase demand for aseptic packaging products which will positively impact the industry growth over the forecast period.
Sarasota, FL -- (SBWIRE) -- 09/07/2018 -- Zion Market Research has published a new report titled "Aseptic Packaging Market by Type (Cartons, Bottles & Cans, Bags & Pouches, and Others), by Material (Paperboard & Paper, Metal, Glass, Plastic, and Wood), and by Application (Beverage and Food): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024". According to the report, global aseptic packaging market was valued at approximately USD 39.51 billion in 2017 and is expected to generate revenue of around USD 79.48 billion by the end of 2024, growing at a CAGR of around 10.5% between 2018 and 2024.
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Growing demand for disposable equipment in the healthcare industry is expected to increase demand for aseptic packaging products which will positively impact the industry growth over the forecast period. Aseptic packaging enables products to remain stable for a longer duration and its technology is different from conventional food processing techniques. Furthermore, increasing preferences for processed and packaged food would increase the demand for cartons, which will further drive the aseptic packaging market growth over the forecast timeframe. Aseptic processing and packaging have some advantages over competing methods of food preservation. Aseptic packaging materials are required to be sterilized before UHT (Ultra High Temperature) for packaging of food and beverages. It ensures packaged products have a shelf life of around six months. Packaging material and machinery need to be sterilized with the solution of hydrogen peroxide before the process of packing.
Packaging plays an important role in the food manufacturing process. It makes food more convenient and provides greater safety for food from microorganisms, chemical, and biological changes as well as provides a longer shelf life. Moreover, increasing demand for processed food with long shelf life and various novel methods are used for packaging in the food processing industry thus driving the growth of the aseptic packaging market. Aseptic packaging involves the filling and sealing of microbiologically stable product into sterilized containers under conditions that prevent microbial contamination of the product, containers, and their closures. Aseptic packaging is the technology of continuous food sterilization and packaging which is majorly adopted in the U.S. and European food industries. Aseptic packaging is used for packaging of various products such as milk, wine, juice, mineral water, drinks, tea, nutritional beverages, dairy, sauces, and tomato products. It also offers several benefits to the consumer and distribution channels which are expected to escalate the industry growth in the coming years.
The aseptic packaging market is segmented on the basis of type into bags & pouches, cartons, bottles & cans, and others. Cartons segment accounted for the highest revenue share in 2017. Increasing demand for cartons from dairy & milk industry is expected to drive segment growth over the forecast period. Cartons offer benefits such as easy stacking of products; it is available in various shapes and sizes and also has a longer shelf life. It also offers excellent barrier properties for the product.
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Based on material, the aseptic packaging market has been segmented as paperboard & paper, metal, glass, plastic, and wood. The plastic segment contributed to a significant revenue share in 2017. The growth is attributed due to its low cost, easy availability, and versatility. Plastic packaging is used in various applications. It is used in packaging of food & beverages as it protects them from oxidation and also provides longer shelf life.
Based on application, aseptic packaging market is segmented as beverage and food. Beverage segment is expected to grow at the highest growth rate due to increased demand for dairy and milk products packaging as it provides protection for the product and offers extended shelf life.
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are regional segments of the global aseptic packaging market. The Asia Pacific accounted for the highest market share in 2017. The growth is attributed due to growing population and large customer base for FMCG products and consumer durables. North America aseptic packaging market held a substantial revenue share in 2017, due to the presence of major industry players.
Some of the key players operating in the aseptic packaging market include Robert Bosch GmbH, Becton Dickinson, and Company, E.I. Du Pont De Nemours and Company, Industria Macchine Automatiche S.P.A, Tetra Laval International S.A., Reynolds Group Holding, Greatview Aseptic Packaging Co., Ltd., Bemis Company, Inc., Amcor Limited and Schott AG, among others.
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This report segments the global aseptic packaging market as follows:
Global Aseptic Packaging Market: Type Segment Analysis
Bottles & Cans
Bags & Pouches
Global Aseptic Packaging Market: Material Segment Analysis
Paperboard & Paper
Global Aseptic Packaging Market: Application Segment Analysis