The Report Titled on “Global Aseptic Packaging Market – Segmented by Material, Product (Carton Boxes,Bags and Pouches,Cups and Trays,Bottles and Jars, Metal Cans, Plastic Cans, and Composite Cans),End-user Industry, and Region – Growth, Trends, and Forecast (2019 – 2023)”, Delivers Information studies of the current situation (with the base year being 2019) and the growth prospects of global Aseptic Packaging Forecast market 2019-2023.
“Aseptic Packaging Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Aseptic Packaging Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
The Key Players covered in this study:-
Amcor Ltd, Bemis Company, Krones Inc., Robert Bosch GmbH, CFT SpA, and Coesia SpA
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Overview of Aseptic Packaging Market Report:
The aseptic packaging market was valued at USD 39.38 billion in 2017, and is expected to reach a value of USD 69.68 billion by 2023 at a CAGR of 9.56 %, over the forecast period (2019 – 2023). The regions considered under the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Evolving consumer preferencefor packaged and processed food and increasing acceptance for various beverages are expected to drive the market, over the forecast period. Thus, the growing application of aseptic packaging in the food & beverage and dairy industries will positively impact the market, as it prevents the deterioration of products and increases their shelf life. This is primarily because of its excellent properties, such as resistance to physical and chemical deterioration, and resistance to high temperature. Moreover, increasing demand for disposable instruments in the healthcare industry is expected to increase the demand for vials and pre-filled syringes and ampoules, which will positively affect the aseptic packaging market, over the projected time frame. Aseptic packaging helps the product to stay stable for a long time, and its technology is different from the conventional food processing techniques. Furthermore, shifting the focus toward processed and packaged food, increases the demand for cartons, propelling the growth of the market over the forecast period.
However, high research and development and high initial investment cost are expected to restrain the market growth, owing to the cost of installing new packaging equipment and innovative packaging technology.
Rising Focus on the Use of Products with Longer Shelflife to Propel the Market Growth
The rising demand of consumers for products that have extended shelf life and are easy to use, necessitated the companies to develop alternate packaging solutions. Shelf life can be increased by protecting the products from potential deteriorating agents, such as moisture, oxygen, and microbes. In order to protect the contents, companies need a cost-effective packaging solution , which can also provide sufficient protection from the microbes. For instance, flexible packaging has superior barrier capabilities and can effectively protect the product from moisture and oxygen. In the recent past, food consumption has witnessed a high growth, which created a demand for the packaged food products with an extended shelf life and sterility. The United States accounts for a significant share in the demand for packaged food, owing to the busy scheduleof the citizens, which compel them to purchasepackaged ready-to-eat food items, instead of the conventional meals.
Moreover, growing incidences of diseases and the consequent dependence on medical devices and various diagnostic tools are increasing the sales of sterilized pouches. Various new technologies and raw materials are finding their way into the flexible packaging manufacturing units, to increase the shelf life of products. Research and development is focused on improving the physical and chemical properties of packaging materials. Nano packaging technologies that are gaining popularity, are inducing modified atmosphere packaging system to increase sustainability. Moreover, packaging industries are inclined toward using active, intelligent, and antimicrobial packaging systems, to increase the durability and future consumption.
Pharmaceutical Industry is expected to have a Huge Demand for Aseptic Packaging
In aseptic pharmaceutical manufacturing, packaging for parenteral-packaging components is essential for ensuring proper sterilization and utilization. The importance cannot be overstated. Ineffective component packaging can potentially affect a patients safety, and may result in significant financial loss. With the significant growth of pharmaceutical packaging market, the global aseptic packaging market is accelerating. The advent of novel injectable therapies, due to research and advancements in the field of biotechnology, is also augmenting the market. Moreover, strict government regulatory frameworks and industry standards for pharmaceutical packaging are encouraging the growth of aseptic packaging in developed countries, like the United States, Germany, etc. This made companies, such as Gerresheimer, which offers a broad portfolio of highly-competitive pharmaceutical ampoules in pharma glass, to invest in efficient pharmaceutical packaging.
Asia-Pacific is expected to dominate the Aseptic Packaging Market over the Forecast Period
The Asia-Pacific region accounted for the largest share among all the regions and is also projected to grow at a significant rate from 2019 to 2023, owing to the increasing demand for aseptic packaging in China and India, coupled with the growing food & beverage industry in these countries. With the increasing disposable incomes, the urbanized population is shifting towards healthy and safe packaged and processed foods. Therefore, rising income and consumption level will also lead to the growth of the aseptic packaging market in this region. Moreover, the market is expected to grow in countries, such as Australia, Indonesia, etc., over the forecast period, due to variations in consumer preferences.
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Market Segment by Regions, regional analysis covers
- North America (the United States, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and Italy)
- Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America (Brazil, Argentina, Colombia, etc.)
- The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)