New York, Oct. 21, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Aseptic Packaging Market’ for the forecast period, i.e. 2023 – 2033 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Aseptic Packaging Market Size:
The global aseptic packaging market is estimated to gain a revenue of ~USD 35 Billion by the end of 2033 by growing at a CAGR of ~10% over the forecast period. Further, the market generated a revenue of ~USD 16 Billion in the year 2022. The growth of the market can be attributed to the increasing demand for aseptic packaging to prevent infectious diseases. It was noticed that nearly 1 million deaths are caused by antimicrobial resistance every year.
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In addition to this, trends in the global aseptic packaging market, including the rapidly expanding demand for aseptic packaging in the pharmaceutical and chemical industries, are anticipated to favorably impact market expansion over the forecast period. For instance, it was predicted that the worldwide chemical sector will make roughly USD 5 trillion in total revenue by 2021. The increasing need for aseptic packaging to preserve medicine's efficacy for a long time is also anticipated to boost the market's expansion over the course of the projected period.
Global Aseptic Packaging Market: Key Takeaways
- Asia Pacific region gains the largest portion of the revenue
- Plastic segment to dominate the revenue graph
- Food & beverage sub-segment remains prominent in the application segment
Growing Demand in Food & Beverage Industry and Increasing Investment in Research and Development to Boost Market Growth
In the modern time, people are living fast and stressful lives and have no time for proper meals, in the case the up surged inclination of the global population can be observed. There are numerous businesses that provide packed and ready-to-eat meals that are simple to make and eat. As a result, there is a market requirement for the sterilization of these sorts of foods, which is met by aseptic packaging and which in turn is predicted to boost the market growth during the forecast period. The food and beverage sector is anticipated to earn approximately USD 0.75 billion in total revenue by 2022.
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Furthermore, the growing expenditures in the field of research and development have accelerated the creation and production of medical products. For instance, around USD 1.5 trillion was spent on medical research and development worldwide in 2021. Since it prevents bacteria from getting inside the product during or after packaging, aseptic packaging is crucial. Therefore, over the course of the forecast period, all these factors are expected to boost the market growth over the forecast period. Additionally, rising investment by key market players in manufacturing, packaging, and effective supply chain of medicines across the world is estimated to propel market growth.
Global Aseptic Packaging Market: Regional Overview
The global aseptic packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Demand for Ready-to-Eat Meals to Drive Growth in the Asia Pacific Region
By the end of 2033, the market in the Asia Pacific region is anticipated to hold the largest market share. The region's market is anticipated to expand as a result of both the food and beverage industry and the increasing demand for aseptic packaging. For instance, it was predicted that in 2022, the ready-to-eat meals market in Asia will earn over $300 billion in total revenue. Over the course of the forecast period, increasing industrialization and urbanization are also anticipated to boost market expansion in the region.
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Growing Consumption of Fast Food to Drive Growth in the North America Region
On the other hand, the market in North America region is anticipated to grow significantly over the forecast period as a result of the region's rising fast food consumption. Further, over one-third of American adults, or 36.6 percent of all adults, or around 85 million people, have been found to consume fast food every day, including pizza and greater percentages, were seen in the 40–59 age group (44.9%) in the 20–39 age group (44.9%). Additionally, the increasing consumer interest in ready-to-eat meal packs and online food ordering are also predicted to fuel market expansion in the area over the forecast period.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Aseptic Packaging Market, Segmentation by Application
- Food & Beverage
- Pharmaceuticals
- Chemicals
- Others
Out of these, the food & beverage segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be attributed to the increasing consumer pool and the growing food industry across the world. For instance, in 2022, the total revenue generated by the food segment is projected to reach USD 15 billion. Further, the growing urban population, rising packaged food demand, and rise in online food ordering are also anticipated to propel segment growth.
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Global Aseptic Packaging Market, Segmentation by Materials
- Glass
- Paper & Paperboard
- Plastic
- Metals
- Others
Among these, owing to its widespread use in containers, wraps, pouches, tubs, and other items, the plastic segment is expected to increase at a notable rate over the projected period. Additionally, qualities including flexibility, spill resistance, cost-effectiveness, and lightweight are other benefits that make plastic a top choice for usage in food packaging. The Environmental Protection Agency (EPA) of the United States reports that 14.5 million tons of packaging and plastic containers were produced in 2018.
Global Aseptic Packaging Market, Segmentation by Packaging Type
- Bags & Pouches
- Bottles & Cans
- Vials & Ampoules
- Carton
- Others
Few of the well-known market leaders in the global aseptic packaging market that are profiled by Research Nester are Sealed Air Corporation, Amcor Limited, UFlex Limited, DS Smith Plc, Stora Enso Oyj, International Paper Company, Smurfit Kappa Group, WstRock Company, Bemis Company, Inc., Sonoco Product Company, and others.
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Recent Developments in the Global Aseptic Packaging Market
- In September 2022, The eComPack automatic packaging device was introduced by Mondi plc and Heiber + Schröder in order to automate the packing of its EnvelopeMailer for e-commerce operations.
- In May 2022, Together with Taco Bell, Berry Global Inc. launched an initiative to make plastic cups using post-consumer recycled plastic. In the later half of 2022, Taco Bell plans to test the new clear polypropylene (PP) cup in a few U.S. locations.
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