Aseptic Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2024
Albany, NY -- (SBWIRE) -- 05/16/2018 -- An up to date business intelligence report compiled at the headquarters of Transparency Market Research (TMR) has detected that the aseptic packaging market is still in nascent stage and currently, the global shares are considerably consolidated among a handful of players. Complexity of the manufacturing process is another factors that is enabling major players.
Going forward, the analyst of the report has foreseen product innovation in sync with the ecofriendly trend and decreasing cost of bulk production as a few strategies that the major vendors will be indulging in to maintain their stronghold over the global aseptic packaging market.
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As per the projections provided in the TMR report, the demand in the global aseptic packaging market will increment at a notable CAGR of 10.0% during the forecast period of 2017 to 2024. Revenue-wise, the opportunities in the aseptic packaging market, worldwide, is estimated to translate into US$80.49 billion by the end of 2024, swelling up from the market's evaluated worth of US$41.31 billion as of 2017. Based on product type, the report has rated the segment of vials, prefilled syringes, and ampoules to be most profitable, generating a demand worth of US$26,899.9 million.
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The global aseptic packaging market is primarily driven by high demand for aseptic packaging in flexible packaging, especially in the application segments such as food, dairy, and beverages. Low cost and recyclability of aseptic cartons act as key drivers of the aseptic packaging market.