North America Aseptic Packaging Market size was $5,115.7 million in 2021, and is expected to reach $11,425.4 million by 2031, with a CAGR of 8.2% from 2022-2031
WILMINGTON, DELAWARE, UNITED STATES, February 22, 2024 /EINPresswire.com/ — The North America Aseptic Packaging Market accrued $5.11 billion in 2021, and is predicted to garner $11.42 billion by 2031, registering a CAGR of 8.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Key drivers of the North America aseptic packaging market include rise in government spending on healthcare activities, low plastic costs, and enhanced recycling packaging rate. Furthermore, rise in acceptance of automation in manufacturing of aseptic packaging will boost the market growth. Contrarily, oscillation in raw material costs will hinder growth of the market. However, rise in e-commerce activities globally will open new opportunities of growth for the market.
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COVID-19 Scenario:
The North America aseptic packaging market growth was hindered due to lockdown, resulting in shutdown or restrictions in retail food and beverages outlets.
Restaurants, cafes, and hotels were closed to prevent the spread of the COVID-19, thereby leading to decline in consumption of food and beverages that are packed by using aseptic packaging.
The report offers detailed segmentation of the North America aseptic packaging market based on packaging type, application, and material.
Based on packaging type, the carton segment contributed towards the largest market share in 2021, accounting for nearly three-fifths of overall share of the North America aseptic packaging market. Nonetheless, the bags & pouches segment is projected to register the highest CAGR of nearly 9.9% from 2022 to 2031.
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Based on application, the beverage segment accounted for the largest share of the market in 2021, contributing to more than four-fifths of overall share of the North America aseptic packaging market. However, the food segment is predicted to record the highest CAGR of about 9.5% from 2022 to 2031.
Based on material, the paper & paperboard segment contributed for the largest share of the North America aseptic packaging market in 2021, contributing more than half of overall share of the North America aseptic packaging market. Moreover, this segment is set to record the highest CAGR of about 9.0% from 2022 to 2031. The report also analyzes the segments including plastics, metal, and glass.
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Key Players:
Key players profiled in the North America aseptic packaging market research report are Smurfit Kappa Group plc, Amcor plc, Tetra Laval International, DS Smith plc, Stora Enso Oyj, Mondi PLC, Sonoco, SIG, Greatview Aseptic Packaging Company Ltd., and UFlex Limited.
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