Acumen Research & Consulting, Recently Published Report on "Global Aseptic Packaging Market Size, Share, Growth, Sales, Consumption and Forecast, 2019 - 2026"
LOS ANGELES, Feb. 10, 2020 /PRNewswire/ -- The Aseptic Packaging Market size is poised to worth around US$ 74.78 billion by 2026 with rising CAGR of around 9.4%.
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Asia-Pacific dominated the global aseptic packaging market in the year 2018. Different huge purposes behind the predominance of Asia-Pacific are the increasing demand for aseptic packaging in China and India and the growing food & beverage industry in these countries. The urbanized population is shifting toward packaged foods due to the increasing income. Rising income and a dynamic lifestyle will also lead to the growth of the market in this region. Asia-Pacific is one of the fastest-growing aseptic packaging markets, as a result of the huge adoption of the technology, coupled with increasing issues relating to product safety and shelf-life. China is also rising as one of the dominating countries, even at the global level. The sale of aseptic packages proliferated in China, registering a sales volume of regarding 80 billion units over the period 2013-2016. According to the USDA, China's demand for imported dairy products is expected to increase. However, China's retaliatory tariffs on us dairy products are expected to make it difficult for US dairy companies to take advantage of this situation, thus, opening up an opportunity for local vendors. China has invested more in the development of aseptic packaging technology and equipment. Guangdong, Beijing, Shanghai, Wenzhou, and Ningbo produce aseptic packing machines of paper boxes, plastic cups, equipment, and packaging materials of ultra-high temperature sterilization. China has remained one of tetra Pak's major markets. However, with local enterprises entering into the sterile packaging industry, Tetra Pak's shares in the Chinese market have reduced.
North America is expected to register the highest CAGR during the forecast period. The increasing demand for transportation across long distances is creating a need to prolong shelf life to unprecedented levels. The increasing distances between manufacturing sites and end-users need packaging to increase its levels of endurance and protective abilities. The culture of packaged and readymade foods across prevalent across North America is responsible for the increasing adoption of aseptic packaging.
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Beverage is estimated to be the largest application business of aseptic packaging. The aseptic packaging market is driven by factors like a rise in the demand for convenience and quality food products, and the growth of the dairy beverages market. Rising markets, like the Asia-Pacific region, have contributed to a rise in the application of aseptic packaging in beverage products. Cost-to-benefit ratio to small manufacturers and high research & development investment are the restraining factors for the aseptic packaging market.
Bottles and cans have dominated the offering segment in the year 2018 and the segment is projected to maintain its dominance over the forecast period. The increasing demand from the food and beverage packaging industries is driving the usage of bottles & cans within the aseptic packaging market. The growth of this market is attributed to the increasing demand for beverages, particularly from the dairy and juice packaging market. The cans segment is influenced by the growth of tinned meat, seafood & fruit products, and ready-to-serve markets. Cans are sealed with a double seam and are airtight and tamperproof to ensure that food is preserved, has a long shelf life, and remains fresh.
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Some of the key manufacturing companies include in the global aseptic packaging market are E.I. du Pont de Nemours and Company, Robert Bosch GmbH, Tetra Laval International S.A., Reynolds Group Holdings Limited, Amcor Limited, Becton, Dickinson and Company, Bemis Company, Inc., Greatview Aseptic Packaging Co., Ltd, IMA S.P.A, and Schott AG.
Some of the key observations regarding global aseptic packaging industry include:
- In December 2016, Amcor acquired Detmold Flexibles (Australia) for USD 500 million. This acquisition enabled Amcor's flexible packaging business to similarly improve the customer fee proposition in the packaging marketplace.
- In December 2015, Bemis Company, Inc. obtained Emplal Participações S.A. (Brazil), a manufacturer of rigid plastics for meals and consumption applications. The acquisition improved the company's position in South America and reinforced its product portfolio.
- In March 2015, Bosch Packaging Technology set up a regional service hub for South America in Sao Paulo, Brazil. This hub offers a comprehensive support for pharmaceutical, meals, and processing equipment.
- In September 2014, DuPont announced its plans to growth its ethylene copolymer property at its Texas manufacturing centers to fulfill the growing market demand. Its plans blanketed an investment of USD one hundred million and expected to be completed in the next three years.
- In February 2017, Tetra Pak introduced a funding of USD 25.three million for its plant for packaging closure in Southeast Asia. The funding would assist the organization to enlarge its business within the emerging Asian market.
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