LONDON, May 2, 2017 /PRNewswire/ -- Highlights
The aseptic processing market is classified into two parts, namely, packaging market and equipment market.
· The equipment market has grown rapidly in the last few years and is projected to reach USD 12.24 billion by 2022, growing at a CAGR of 3.8% from 2017, in terms of value.
· The packaging market is projected to reach USD 77.25 billion by 2022, growing at a CAGR of 10.6% from 2017, in terms of value.
· Dairy & beverages is the fastest-growing sub-application of the equipment market
Increase in preferences for eco-friendly packages, improved equipment and technologies in the packaging industry, growth in demand for pharmaceutical supplies, rise in demand for convenience & quality food products, and growth of the dairy beverage market are the factors driving the demand for aseptic processing market. However, higher initial capital investment involved in equipment and need for higher technological understanding than other packaging forms restrain the growth of the market.
"Dairy & beverages is the fastest-growing sub-application of the equipment market"
In 2015, the dairy & beverage subsegment of the food & beverages application, accounted for the largest share in the equipment market in terms of value, and is projected to grow at a higher CAGR from 2017 to 2022. The various dairy products that undergo aseptic processing and packaging include UHT milk, creams, fermented dairy products, concentrated and condensed milk, flavored & formulated dairy products, and other dairy products. Beverage products include, fruit juices, carbonated drinks, tea, coconut water, and energy drinks.
"Paper & paperboard segment is growing at the highest CAGR in the packaging market"
In 2015, the paper & paperboard material segment accounted for the largest share in the packaging market in terms of value, which is also projected to grow at the highest CAGR from 2017 to 2022. Paperboard is easy to cut and process and is both, lightweight and strong, which makes it ideal for packaging. Paperboard packaging is available in several different grades that possess unique characteristics. Different grades are chosen based on the packaging requirements and needs. These features are expected to accelerate the growth of the packaging market in the forecast period.
"Emerging economies: The future of the aseptic processing industry"
Emerging economies such as China, India, Brazil, Argentina, and Russia are expected to account considerably to the global growth for aseptic processing (packaging and equipment) market in the upcoming years. Growth in these countries is mainly driven by the favorable demographics, rise in household incomes, and busy lifestyles of consumers, inclining them toward ready meals, particularly processed foods.
Equipment manufacturers and suppliers are attempting to offer innovation in their equipment categories with integrating processing equipment in the filling or packaging equipment. Packaging manufacturers and suppliers are pursuing growth strategies in emerging economies by diversifying their product offerings and strengthening their distribution base. These companies can increase their presence by serving their customers in untapped regions such as Asia, Latin America, the Middle East, and Africa. Growth in these developing regions over the next few years will result in opportunities for business expansion.
Break-up of Primaries:
- By Company Type: Tier 1 – 46 %, Tier 2 – 26%, and Tier 3 – 28%
- By Designation: C level – 57%, Manager level –24%, and Others* – 19%
- By Region: North America – 25%, Europe – 18%, Asia-Pacific – 36%, and Row** – 21%
*Others include sales managers, marketing managers, and product managers.
**RoW includes Latin America, Africa, and the Middle East.
The leading players in the aseptic processing market are Robert Bosch GmbH (Germany), E.I. Du Pont De Nemours and Company (U.S.), Tetra Laval International S.A. (Switzerland), SPX FLOW, Inc. (U.S.), IMA S.p.A (Italy), Becton, Dickinson and Co (U.S.), Amcor Limited (Australia), GEA Group (Germany), Greatview Aseptic Packaging Co., Ltd (China), and JBT Corporation (U.S.).
The aseptic processing market is classified into two parts, namely, packaging market and equipment market. The segments considered for the packaging market are based on the types of aseptic packages, the material used, the applications and regions these packages are used in. The types of aseptic packages studied include cartons, bottles & cans, bags & pouches, pre-filled syringes, vials & ampoules, and others. The segmentation based on material used consists of plastics, glass & wood, metal, and paper & paperboard. The final segment, that is, region, consists of North America, Europe, Asia-Pacific, and Rest of the World (RoW).
The segments considered for the equipment market are type, application, and region. The types of equipment include processing and packaging. The segmentation based on application consists of food & beverage (further subsegmented as bakery & confectionery; dairy & beverages; poultry, seafood & meat products; convenience food; fruit & vegetable ingredients; and others) and industrial (further subsegmented as pharmaceuticals and cosmetics). The final segment, that is, region, consists of North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Key Benefits of Buying the Report:
- To get a comprehensive overview of the global aseptic processing market with specific reference to the packaging and equipment markets
- To understand the equipment used in aseptic packaging
- To gain a wide range of information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights of the major regions/countries in which the aseptic processing industry is flourishing
Download the full report: https://www.reportbuyer.com/product/4606007/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/equipment-market-is-projected-to-reach-usd-1224-billion-by-2022-300450126.html