NEWARK, Del, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Over the course of the forecast period, the worldwide aseptic processing market is anticipated to grow at a moderate rate of 6.13%. In 2023, the aseptic processing market is expected to be worth US$95.63 Bn. Demand for aseptic processing is anticipated to peak at US$ 173.37 billion by 2033.
One of the main factors driving the global aseptic processing market is the constantly expanding food and beverage sector, which is caused by the rise in demand for dairy and other ready-to-drink beverages worldwide.
The global aseptic processing market is expected to grow significantly over the forecast period because of factors such as expanding urbanization, the essential rise in discretionary spending, and the emergence of new economies.
Furthermore, the growing demand for innovative biotechnology-based injectable pharmaceuticals is driving rapid expansion in the pharmaceutical industry, which in turn is expected to unleash a wave of unprecedented freedom for the global aseptic processing hardware market. Demand for aseptic processing equipment is also driven by technological advancements in sterile pharmaceutical production.
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However, the market is hindered by the ever-changing costs of packaging materials such as polymer, board, paper, glass, aluminum, and steel. In contrast, opportunities in developing countries emerging markets and the expected gradual increase in global e-commerce sales during the forecast period are seen as growth factors for the aseptic processing market.
Key Takeaways
- The United States, Canada, Japan, China, and Europe are the primary contributors to the 4.2% CAGR forecast for the worldwide Bottles & Cans market.
- At the end of the forecast period, the sum of these regional markets, which accounted for $5.9 Bn in 2022, is expected to rise to US$7.9 Bn.
- The Chinese market is likely to continue to be one of the fastest expanding in this group of regional economies.
- Market size in Asia-Pacific is expected to reach US$15.1 Bn by 2033, driven by nations like Australia, India, and South Korea, while growth in Latin America is anticipated to reach 5.6% CAGR during 2018-2033.
Competitive Landscape
The aseptic processing industry is a crowded one, with many formidable competitors. In 2023, a small group of corporations is expected to control most of the sales of aseptic processing. These industry frontrunners have already established a solid foundation and are now focusing on expanding their global clientele.
These companies are attempting to increase their customer base and profits by working together. Some major companies in the market are buying up aseptic processing startups to expand their research and development.
Recent Developments
- Tetra Pak and Poka, a worker platform provider based in Canada, have begun working together strategically as of October 2021. According to Tetra Pak, this is expected to give factory workers the knowledge and experience to speed up the process of going waste-free in the food production industry. As part of a new training and support package, this is Tetra Pak's first globally scaled connected workforce offering.
- In September of 2021, Saputo, Inc. purchased Carolina Aseptic and Carolina Dairy. Based in Troy, North Carolina, Carolina Aseptic is committed to creating, producing, packing, and dispersing aseptic shelf-stable food items and beverages. Meanwhile in Biscoe, North Carolina, Carolina Dairy products, packages, and distributes spouted packets of chilled yogurt. Saputo would be better able to meet the rising demand for aseptic dairy-based nutritional snacks after acquiring both companies.
- Packaging companies like Nestle are working with SIG to find more environmentally friendly alternatives by May 2020. This fits well with Nestle's objective to reduce plastic waste. Sustainable packaging materials research received CHF 5 million from the corporations, Logitech, and other industry partners for 10 years, starting in May 2020.
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Key Segments in the Aseptic Processing Market
By Type:
- Processing
- Packaging
By Application:
- Food & Beverages
- Industrial
By Material:
- Paper & Paperboard
- Plastics
- Metal
- Glass
Region:
- North America
- Latin America
- Asia Pacific
- MEA (Middle East and Africa)
- Europe
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
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