Aseptic Packaging Market to Reach Whopping Valuation of US$ 80.49 billion by 2024, Rapid Uptake in Pharmaceutical and Dairy Industries: TMR
- Array of benefits including preservation from environmental contamination and convenience spur the popularity of aseptic packaging for numerous industries, notably food and dairy, market to clock CAGR of 10.0% during 2017 - 2024
- Pharmaceutical industry is key application segment where the packaging prevents reinfection, the segment is projected to touch valuation of ~ US$28.11 Bn
ALBANY, N.Y., Oct. 14, 2020 /PRNewswire/ -- Aseptic packaging find extensive use in food and beverages industry, and its popularity has spiraled on the back of the several benefits they offer to brands. Food are packaged in a sterile condition, preventing infections and leading to better preservation. This is especially important for dairy products that undergo rapid degradation. Medical consumables such as pharmaceuticals are also witnessing rapid use of aseptic packaging to maintain their shelf-life for longer duration.
A number of products and technologies have emerged in the aseptic packaging market, notably including cartons, vials, prefilled syringes & ampoules, and bags and pouches.
TMR analysts project the aseptic packaging market to clock CAGR of 10.0% from 2017 to 2024. Rise in investments by packaging manufacturers will help the valuation of the market to climb from US$ 41.31 billion in 2017 to US$ 80.49 billion by the end of 2024.
Pharmaceutical and dairy product manufacturers are primary end users
Dairy industry projected to generate a demand of US$24,616.6 million by 2024
Among the various products, vials and prefilled syringes and ampoules are the prominent segment
In 2017, the aforementioned segment constituted the demand for US$13,972.1 million
Asia Pacific to be the most lucrative region throughout the forecast period
China led the global market
By the end of 2024, Asia Pacific aseptic packaging market is expected to be worth US$31,488.9 million
Europe and North America projected to be the next lucrative geographies in the global market
Explore 149 pages of top-notch research, incisive insights, and detailed country-level projections on Aseptic Packaging Market (Product - Bottles (Glass & Plastic), Cartons, Vials, Prefilled Syringes & Ampoules, Bags & Pouches, and Cups; End Use Industry - Food, Dairy, Beverages, and Pharmaceutical) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2024 at https://www.transparencymarketresearch.com/aseptic-packaging-market.html
Aseptic Packaging Market: Key Driving Factors and Promising Avenues
Cost-effectiveness, eco-friendliness, and consumer convenience are some of the benefits that aseptic packaging offers to industries. Most prominently, the packaging helps preserve the shelf life for long period by ensuring sterile conditions.
The strides being made by packaged diary industry is a key factor spurring the popularity of aseptic packaging and technologies. Rising consumption of yogurt, milk, and cheese in urban regions of the world is key underpinning to the demand.
Sheer pace of urbanization in developing regions over the past few decades has spurred the uptake of aseptic packaging.
Rising adoption of the packaging in the pharmaceutical sector has been offering a robust momentum to the expansion of revenues in the aseptic packaging market.
Growing awareness of the benefits of the aseptic packaging in handling is stoking the demand for such packaging.
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Aseptic Packaging Market: Competitive Assessment
Stakeholders in the aseptic packaging market have to grapple with the high cost of end-products, mainly due to the use of costly packaging equipment in manufacturing units. Industry are thus slow to adopt the packaging in cost-sensitive markets. However, as prospective consumers will become aware of the benefits of such a packaging, market players will see broadening of avenues.
On the other hand, the new packaging materials that work well with various aseptic packaging technologies favors the growth dynamics in the aseptic packaging market.
On the regional front, Asia Pacific accounted for a large majority of share in the global aseptic packaging market. This is due to the fact that China is at the forefront of the global market and is a major worldwide manufacturing hub of such a packaging. Further, India and Thailand are witnessing vast uptake of aseptic packaging in the food and beverages, personal care, and pharmaceuticals applications.
The Asia Pacific market as a whole is expected to account for a global share of 39.1% by the end of 2024.
The Aseptic Packaging market has been segmented as follows:
Bottles (Glass, Plastic)
Vials, Prefilled Syringes & Ampoules
Bags & Pouches
Rest of the World
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