Portland, OR, March 11, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global aseptic packaging market accounted for $35.71 billion and is expected to reach $74.47 billion by 2026, growing at a CAGR of 9.5% during the forecast period.
Rise in government expenditure on healthcare, improved recycling rates for packaging, low cost of plastics coupled with surge in adoption of automation in the production of aseptic packaging have boosted the growth of the global aseptic packaging market. However, rise in e-commerce sales across the globe and untapped potential in the developing market are expected to create lucrative opportunities in the near future.
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The global aseptic packaging market is segmented on the basis of type, material, end-use industry, and geography. Based on type, the market is categorized into carton, bags & pouches, bottles & cans, and vials, prefilled syringes, & ampoules. The carton segment held the largest share in 2018, accounting for more than two-fifths of the market. On the other hand, the vials, prefilled syringes, and ampoules segment is expected to register the fastest CAGR of 10.6% during the forecast period.
On the basis of material, the market is bifurcated into glass, metal, plastic, and paper & paperboard. The paper & paperboard segment. The paper & paperboard segment is projected to manifest the fastest CAGR of 9.8% during the forecast period. Moreover, the segment dominated the market in 2018, accounting for more than half of the market.
Based on end-user industry, the market is segmented into food, beverage, and healthcare. The food segment would showcase the highest CAGR of 10.5% during the forecast period. However, the beverage segment held the largest share in 2018, contributing to nearly three-fourths of the market.
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The global aseptic packaging market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across LAMEA is expected to register the fastest CAGR of 10.6% during the forecast period. However, the market across the Asia-Pacific region contributed the highest share in 2018, accounting for nearly two-fifths of the market.
The global aseptic packaging market report includes an in-depth analysis of the major market players such as DS Smith Plc, Amcor plc, Reynolds Group Holdings Limited, Mondi plc, Sonoco Products Company, SIG Combibloc Group AG, Stora Enso Oyj, Smurfit Kappa Group plc, UFlex Limited, Tetra Laval International S.A.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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