Aseptic Packaging Market is Growing at 9.9% CAGR to Exceed $70 Billion by 2024
Tuesday, August 13, 2019
Press release from the issuing company
According to a new research report by GMI, Aseptic Packaging Market worth over USD 70 billion by 2024. Global aseptic packaging market is envisaged to be phenomenally influenced by the increasing demand for packaged food with minimum contamination risk and longer shelf-life. In developing economies, the demand is claimed to be significantly high, subject to the sedentary lifestyles of urban dwellers. For instance, Asia Pacific is one of the prominent regions inclining heavily toward ready-to-eat products, snacks, cake mixes, frozen meals, and dairy items, a factor that has parallelly opened up lucrative business opportunities for aseptic packaging industry market players.
As per estimates, APAC belt procured a major chunk of the overall aseptic packaging market share in 2016 and is slated to be one of the prominent growth avenues for the overall business space in the coming years. Furthermore, the fact that this particular packaging solution is deemed to be eco-friendlier than its other counterparts, might fortify aseptic packaging industry prominence in major end-use domains.
Aseptic packaging market, as claimed by experts, ever since its inception, has highly relied on innovating newer and advanced products. Specifically, one of the recent developments in the business sphere is HTST (high-temperature-short time), which allow the food products to get exposed to heat for a considerably lower time. As per the sources, sterilization process of HTST for aseptic packaging is not only thermally efficient but also maintains the highest quality of the products, including color, natural flavor, nutritive quotient and the like.
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Speaking of its immense potential, it is prudent to mention that aseptic processing technology sterilizes the food product by destroying harmful pathogenic microorganisms and bacteria through a controlled thermal process. It amalgamates the sterile product with the sterile packaging material in a sterile environment, making the product shelf-stable that requires no refrigeration. The predominance of food sectors over other end-use domains of aseptic packaging industry is quite vividly coherent from the estimates that claim food applications to record a y-o-y growth of 8% over 2017-2024.
Tetra Pak, one of the most acclaimed India based mammoths, has recently taken a leap to stand its stance in aseptic packaging market. The company recently launched Tetra Fino® Aseptic 100 Ultra MiM, an absolutely state-of-the-art packaging concept that would allow manufacturers to produce and distribute dairy and juice drinks in small pouches, and subsequently commercialize them as frozen products
Allegedly, this breakthrough technology comes on the heels of Tetra Pak’s plan to tap the expanding the ice cream market which presently is worth more than USD 70 billion, without any additional investment in chilled distribution system and production equipment. Experts have been already raving about this new concept and are expecting that this groundbreaking model would prove to be disruptive for the overall aseptic packaging industry. The overall business space, as estimated by research analysts, held a valuation of USD 36 billion in the year 2016.
The profitability quotient of the entire business space is claimed to be directly proportional to the expanding end-use domains. Pertaining to the wide application scope of packaging across food, beverage, dairy, and pharmaceutical sectors, the global demand for safe high-quality packaging solutions have witnessed a steady rise lately-which has had a substantial impact on the growth curve of aseptic packaging market.
In addition, these aforementioned sectors, over the recent years, have been increasingly demanding environmentally viable solutions, in order to comply with the mandatory regulations on environmental safety. This has pushed aseptic packaging market players to come up with advanced innovative solutions amidst the competitive landscape.
All in all, despite the high cost associated with setting up the unit and R&D investment, the aseptic packaging business space is set to experience a global popularity in the ensuing years, subject to its immense potential of bringing a dynamic transformation in conventional packing model with regards to product sterility, longer shelf life, and reliability. In terms of revenue, Global Market Insights, Inc. forecasts the overall aseptic packaging industry size to exceed a valuation of USD 70 billion by 2024.
Browse key industry insights @ https://www.gminsights.com/industry-analysis/aseptic-packaging-market
Aseptic Packaging Market Product by End-user
Bottles (Glass, Plastic)
Vials, Prefilled Syringes & Ampoules
Bags & Pouches
Others (Cups, etc.)
Aseptic Packaging Market by End-user
Others (Personal care, etc.)
The above information is provided on a regional and country basis for the following:
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