- Rise in government expenditure on healthcare, improved recycling rates for packaging, and low cost of plastics propel the growth of the global Aseptic packaging market
PORTLAND, Ore., Sept. 21, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Aseptic packaging Market Analysis by Type (Carton, Bags & Pouches, Bottles & Cans, and Vials, Prefilled Syringes, & Ampoules), Material (Glass, Metal, Plastic, and Paper & Paperboard), and End-Use Industry (Food, Beverage, and Healthcare): Global Opportunity Analysis and Industry Forecast, 2018–2026." According to the report published by Allied Market Research, the global Aseptic packaging market was estimated at $35.71 billion in 2018 and is expected to hit at $74.47 billion by 2026, registering a CAGR of 9.5% from 2019 to 2026.
Key determinants of the market-
Rise in government expenditure on healthcare, improved recycling rates for packaging, and low cost of plastics propel the growth of the global Aseptic packaging market. In addition, surge in adoption of automation in the production of aseptic packaging fuels the market growth. Conversely, uncertain prices of raw materials curtails down the growth to some extent. Nevertheless, rise in e-commerce sales globally and growth opportunities in the emerging markets are expected to create lucrative opportunities in the near future.
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- The initial phase of covid-19 has impacted the manufacturers in aseptic packaging market due to supply chain disruptions for raw materials.
- However, the demand for the packaging has been increased by the end-using sectors including food, beverages, and pharmaceuticals.
The paper and paperboards segment dominated in 2018 -
Based on material, the paper & paperboard segment contributed to more than half of the global aseptic packaging market revenue in 2018. In addition, the segment is expected to maintain its dominance by the end of 2026. The same segment would also portray the fastest CAGR of 9.8% during the study period. This is owing to plastic pollution concerns, rise in investment for product development related researches to implement use of paperboard in packaging of beverages other than dairy products and juices.
The cartons segment to lead throughout 2026-
Based on type, the cartons segment held the major share in 2018, garnering more than two-fifths of the global aseptic packaging market. This is owing to its features such as they are 100% recyclable and low carbon footprint of cartons. However, the vials, prefilled syringes, and ampoules segment would grow at the fastest CAGR of 10.6% throughout the forecast period. This is owing to the growth of the healthcare industry and increase in spending in the healthcare sector.
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Asia-Pacific to rule the roost in terms of revenue, North America to grow at a significant pace-
Based on region, Asia-Pacific accounted for nearly two-fifths of the global aseptic packaging market revenue in 2018, and is anticipated to maintain the lion's share till 2026. Emerging countries, increased consumer disposable income, urbanization, and rise in consumption of beverages and food products in this regions drives the market growth. On the other hand, the region across LAMEA is anticipated to manifest the fastest CAGR of 10.6% from 2019 to 2026. Countries in this province have become a promising market for aseptic goods seeking to leverage the region's low-cost labor markets, rich natural resources, and expanding consumer markets. This drives the market growth in LAMEA. Moreover, the North America region is anticipated to grow at a CAGR of 9.0% from 2019 to 2026.
Key players in the industry-
- Sonoco Products Company
- Smurfit Kappa Group plc
- Stora Enso Oyj
- Tetra Laval International S.A.
- UFlex Limited
- Amcor plc
- DS Smith Plc
- Mondi plc
- Reynolds Group Holdings Limited
- SIG Combibloc Group AG
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