Selbyville, Delaware, July 06, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global Aseptic Packaging Market was estimated at $50.86 billion in 2020 and is slated to exceed $90.53 billion by 2027, registering a CAGR of 8.7% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
The growing demand for aseptic packaging with excellent features in the food, beverage, and dairy industries will positively contribute to the overall industry. Key players, such as Amcor and DowDuPont Inc., are majorly focusing on expanding their product range. For instance, in October 2017, DuPont Protection Solutions introduced DuPont Tyvek40L medical packaging, a new class of Tyvek designed for medical packaging applications that offer cost-effective options to protect lightweight and low-risk devices.
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Increased use of aseptic packaging in the pharmaceutical industry is likely to boost industry growth. The major packaging material used for medical purposes is glass, followed by plastic and metals. Prefilled syringes, vials, and ampoules are largely used to fill pharmaceutical products to protect them from contamination until they are used.
The bottles segment was the largest segment that accounted for around 36% volume share in 2020 and is projected to grow at a CAGR of over 7.1% from 2021 – 2027. The segment is majorly driven by increasing applications in the food & beverage sector. The high barrier properties, various designs, and user-friendly features are the major factors driving the demand for bottles in the food & beverage industry.
Polyethylene terephthalate, polypropylene, high-density polyethylene, etc. are some of the major types of plastic used in aseptic packaging products, depending on their functional attributes. Bottles that have been aseptically filled are easier to handle and have a longer shelf life. They are ideal for preserving perishable liquids such as milk, juices, and other foods.
The pharmaceutical segment will grow significantly and account for around 13% volume share by 2027. Demand for aseptic in pharmaceutical applications is anticipated to increase at a steady rate as it is extensively used for packing products such as prefilled syringes, vials, and ampoules. This is due to the good barrier, resistance to puncture, and good temperature resistance features. The global healthcare industry is expected to grow in the coming year and would cross USD 1 trillion in terms of revenue. This would drive the aseptic packaging market in the coming years as the product is used for packaging pipettes plates, culture dishes, and test tubes.
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In 2020, Asia Pacific held the highest market share in the aseptic packaging market owing to the large size of its food and beverage sector. The region is likely to grow at a CAGR of 8.4% during the forecast period. China occupied the largest market share in the aseptic packaging market, followed by Japan and India. China generated the highest revenue in the alcoholic drinks market of USD 293 billion in 2019, out of which the beer segment was the largest. This would increase the demand for aseptic packaging in the Chinese beverage market in the coming years.
The global market is highly fragmented owing to the presence of large & small manufacturers in the Asia Pacific and Europe. There is a moderate threat for new entrants due to strict government regulations pertaining to food safety.
The key industry players are primarily focused on expanding their product range and regional presence in emerging countries to hold a market share in the industry. Some of the major market manufacturers in the aseptic packaging industry Amcor Limited, Krones AG, DowDuPont Inc., Agropur Cooperative, Scholle IPN, Ecolean Lamican International Oy, Tetra Laval International S.A., AB International Oy, Sealed Air Corporation, Goglio S.P.A, IPI SRL, and Printpack Inc. among others.
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