According to a new report published by Allied Market Research, titled, "Aseptic Packaging Market by Type, Material, and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global aseptic packaging market size was valued at $35.7 billion in 2018, and is projected to reach $74.5 billion by 2026, growing at a CAGR of 9.5% from 2019 to 2026. The beverage segment is anticipated to hold over three-fifths of the global aseptic packaging market share in 2018 and is anticipated to witness substantial growth during the study period.
The global aseptic packaging market is expected to be driven by the growth in the adoption of aseptic packaging in the beverage industry and rise in demand from the healthcare industry. The key market players aim to discover new technologies and products to encounter growing customer demands. Business expansion and product launch are anticipated to allow them to enlarge their product portfolios and enter into various geographic regions. Emergent countries offer remunerative opportunities to the global aseptic packaging market players for development and expansion. For instance, in July 2019, Stora Enso in collaboration with EloPak developed a range of aseptic cartons and launched Pure-Pak. Pure-Pak is made from natural brown board wood fiber, which is a renewable material. The use of natural brown board wood fiber reduces the carbon footprint during production and also reduces the weight of the carton.
Many major players in the global aseptic packaging industry are designing their products considering the convenience factors to increase their sales. For instance, Tetra Pak a subsidiary of Tetra Laval, based in Sweden, which has designed its Tetra Gemina aseptic cartons in three different shapes, which are square, crystal, and leaf. Each shape allows 360 degrees of graphic design space and is attached with a pouring cap, named, HeliCap 27 or StreamCap 1000, which is resealable and is fixed at an angle such that it provides an optimal flow of beverage. Moreover, the caps are manufactured using bio-based plastics, which makes the product 100% recyclable. All such factors provide convenience to customers during usage and to the manufacturers as it is easy to recycle.
The Asia-Pacific region dominated the global aseptic packaging market, in terms of revenue throughout the study period, accounting for around 39.6% share of the global market. In terms of material, the paper & paperboard segment accounted for the highest share in the total global aseptic packaging market in 2018 and is anticipated to witness substantial development during the forecast period.
Key Findings of the Study:
- Based on packaging material, the paper & paperboard segment dominated the global aseptic packaging market, in terms of revenue in 2018, and is projected to grow at a CAGR 9.8% during the forecast period.
- By type, the cartons segment is projected to grow at a CAGR of 9.1% during the forecast period.
- Based on the end-use industry, the food segment is projected to grow at a CAGR of 10.5% during the forecast period of 2019 to 2026.
- LAMEA is expected to register the highest growth rate in the coming years.
- U.S. accounted for over 60% of the share of the North America aseptic packaging market in 2018.
- The key market players within the aseptic packaging market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the aseptic packaging industry.
- The report provides an extensive analysis of the aseptic packaging market trends and its emerging opportunities.
- In-depth aseptic packaging market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
- The global aseptic packaging market forecast analysis from 2019 to 2026 is included in the report.
The key market players profiled in the report include Amcor plc, DS Smith Plc, Mondi plc, Reynolds Group Holdings Limited, SIG Combibloc Group AG, Sonoco Products Company, Smurfit Kappa Group plc, Stora Enso Oyj, Tetra Laval International S.A., and UFlex Limited.