Aseptic Packaging Market is Flourishing due to Rising Emergence of Food Industry Drives Growth by 2028
WILMINGTON, DELAWARE, February 13, 2024 /EINPresswire.com/ — The global aseptic packaging market is expected to be driven by growth in adoption of aseptic packaging in the beverage industry and rise in demand from healthcare industry. Key market players aim to discover new technologies and products to cater to growing customer demands. Business expansion and product launch are anticipated to allow them to enhance their product portfolios and enter into various regions. The beverage segment held over three-fifths of the global aseptic packaging market share in 2020, and is anticipated to witness substantial growth during the forecast period.
The global aseptic packaging market size was valued at $15.4 billion in 2020, and is projected to reach $32.3 million by 2028, growing at a CAGR of 9.8% from 2021 to 2028.
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Drivers:
Emerging 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. Use of natural brown board wood fiber reduces carbon footprint during production and reduces weight of cartons.
One of the major factors that stimulate growth of the global aseptic packaging market is surge in demand for recycled and affordable packaging products. However, uncertain prices of raw material is anticipated to hinder growth of the global aseptic packaging market.
On the basis of end-use industry, the beverage segment secured largest share in the global aseptic packaging market in 2020, and the food segment is anticipated to grow at the highest CAGR during the forecast period.
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Many major players in the global aseptic packaging industry are designing their products considering 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, caps are manufactured using bio-based plastics, which makes the product 100% recyclable. All such factors provide convenience to customers during usage and to manufacturers as it is easy to recycle.
Top Players:
The major players profiled in the aseptic packaging market 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.
Key Findings Of The Study –
By packaging type, the carton segment was the highest revenue contributor in 2020.
By material, the paper and paperboard segment generated the highest revenue in 2020.
By end-user industry, the beverage segment generated the highest revenue in 2020.
By region, Asia-Pacific generated the highest revenue in 2020.
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