The competitive landscape in the global aseptic
packaging market is quite consolidated. Transparency Market Research
states that Tetra Pak alone held a dominant share of about 65% in the
global market in 2015. However, several players are focusing on the
potential of emerging economies that offer cheap labor and low cost
of raw materials to set up manufacturing units.
According to the research report, the global aseptic
packaging market is expected to reach a valuation of US$80.49 bn by
the end of 2024 as compared to US$34.42 bn in 2015.
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Between the forecast years of 2016 and 2024, the
global market is projected to expand at a CAGR of 9.9%. The steady
growth of the global aseptic packaging market will be attributable to
the emergence of pharmaceutical industry that is focusing on the need
better packaging methods of products.
Asia Pacific Emerges as Key Regional Segment as
Food and Beverages Industry Flourishes
In terms of end user, the global aseptic packaging
market is segmented into pharmaceutical, beverages, dairy, food, and
others such as personal care. Analysts expect that the pharmaceutical
industry will be the key user of the aseptic packaging in the coming
years as the sales of medical consumables continues to be on the
rise. The emergence of the pharmaceutical industry in Asia Pacific is
also expected to fuel the soaring sales of aseptic packaging products
in the coming years. Analysts believe that the dairy industry is also
likely to be a key end user segment in the global aseptic packaging
market.
Geographically, the market is fragmented into Europe,
Asia Pacific, North America, and the Middle East and Africa.
Presently, Asia Pacific is the key consumer of the aseptic packaging
products in the global market. As of 2015, this region accounted for
about 32% share in the global market. The regional market is
predominantly being driven by the booming food and beverages industry
in the region along with the flourishing pharmaceutical industry.
Analysts expect that China will lead the regional market to newer
heights in the coming years as the emerging economy is focused on
production and manufacturing of various products.
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Improved Shelf-life of Products Augments Demand
for Aseptic Packaging Products
The growing awareness amongst consumers about the
benefits of aseptic packaging is the primary growth driver for the
global market. Aseptic packaging primarily allows consumers to
maintain the quality of food items for a longer period of time. The
ability of this packaging method to enhance the shelf-life of the
items has boosted the market’s growth in the past few years.
Analysts predict that the increasing consumption of ready-to-eat
meals and other packaged food items will drive the global market in
the coming years, especially amongst the urban population.
The market will also be fueled by the increasing
sales of cartons, which are being preferred over glass packaging
materials as they are easy to dispose. The report estimates that the
demand for cartons is estimated to escalate as their production
releases lesser amount of emissions in the environment as compared to
production of PET products.
Capital-intensive Nature of Manufacturing Setups
to Restrain Market Growth
Despite the steady growth drivers, the global aseptic
packaging market is likely to be challenged by a few factors. The
complicated process of manufacturing aseptic packaging products is
the key restraint in the global market. The high capital investment
required to setup production plants and manufacturing units is
expected to act a major restraint in the global market.
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This review is based on Transparency Market
Research’s report, titled “Aseptic Packaging Market (Product -
Bottles (Glass, Plastic), Cartons, Vials, Prefilled Syringes &
Ampoules, Bags & Pouches; End-user - Food, Dairy, Beverages,
Pharmaceutical) - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024.”
For this study, the market has been segmented as
follows:
Aseptic Packaging Market - Product Analysis
- Bottles (Glass, Plastic)
- Cartons
- Vials, Prefilled Syringes & Ampoules
- Bags & Pouches
- Others (Cups)
Aseptic Packaging Market - End-user Analysis
- Food
- Dairy
- Beverages
- Pharmaceutical
- Others (Personal Care, etc.)
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