COVID-19 Economic Impact Report: Global Aseptic Packaging Market- Exclusive Report by MarketsandMarkets™

2022-06-20 08:47:32 UTC | Packaging
COVID-19 Economic Impact Report: Global Aseptic Packaging Market- Exclusive Report by MarketsandMarkets™

The Aseptic Packaging Market is projected to grow from USD 39.6 billion in 2017 to USD 66.5billion by 2022, at a CAGR of 10.89% during the forecast period. The aseptic packaging market is witnessing high growth, owing to the rise in demand for ready-to-eat food products. Increased urbanization and growth of the packaging industry have led to an increase in demand for aseptic packaging, particularly in the emerging economies of Asia Pacific and South America.

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The cartons segment is expected to be the largest segment by 2022. The cartons segment is estimated to account for the largest share in the aseptic packaging market by 2022. Increasing consumption of food & dairy products is expected to drive the segment growth. Cartons are made using polyethylene, aluminum foil, and paperboard. They are used widely for packaging a wide variety of liquid processed food such as juices, white & flavored milk, soups, sauces, broths, fruit toppings, syrups, and tomato purees.

The plastic segment is projected to grow at the highest rate during the forecast period.

Plastic provides the product with outstanding visibility and appealing packaging along with safety. Plastic packaging is used in a variety of applications due to its low cost, versatility, and easy availability. It is mainly used in the packaging of food & beverage products, as it protects them from oxidation and also extends the shelf life of the product.

The Asia Pacific is projected to be the largest market during the forecast period.

Asia Pacific accounted for the largest share among all the regions in 2016, and this trend is projected to continue till 2022. This growth is attributed mainly to 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 owing to the increasing disposable income. Rising income and changing lifestyle will also lead to the growth of the market in this region.

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The major players include E.I. du Pont de Nemours and Company (US), Robert Bosch GmbH (Germany), Tetra Laval International S.A. (Switzerland), Reynolds Group Holdings Limited (New Zealand), Amcor Limited (Australia), Becton, Dickinson and Company (US), Bemis Company, Inc. (US), Greatview Aseptic Packaging Co., Ltd. (China), IMA S.P.A (Italy), and Schott AG (Germany). These companies have implemented strategies such as new product developments, expansions & investments, mergers & acquisitions, agreements & joint ventures to strengthen their position in the market.

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