“Changing consumer lifestyle worldwide will enhance the market growth”
The global aseptic packaging market is increasing substantially, projected to expand at CAGR of 9.3% during the estimated period from 2023 to 2030, starting from US$ 54.90 Bn in 2021. The global aseptic packaging market volume is growing significantly, anticipated to expand at CAGR of 5.5% throughout the projected period from 2023 to 2030, starting from 413.5 Bn units in 2021.
The growing beverage industry and changing consumer lifestyles worldwide is anticipated to drive the market growth. The global non-alcoholic beverage industry volume worldwide in 2018 was around 990.0 Bn liters and expected to reach more than 1.3 Tn liters by 2025. The development of electronic logistics processing and consumer shift against food preservatives are some other key factors projected to enhance market growth over the forecast period. Aseptic packaging has numerous benefits such as reduce the probability of germs presence, e-tracking friendly, convenience, strong efficiency, protect nutritional content, and no refrigeration required among others, which is expected to support the market growth during the forecast period.
“New product development will boost market growth”
The rising packaging industry along with new product development by key market players are some other major factors expected to boost the market demand in years to come. For instance, in April 2019, Amcor launched a unique, high-barrier flexible packaging AmLite Ultra Recyclable packaging product. The AmLite Ultra Recyclable product can reduce carbon footprint by up to 64% which is expected to provide more sustainability to products and can be used for packaging of food, pharmaceutical, and personal care products among others. However, the need for greater technological understanding and high capital investment are some restraints expected to hinder the market growth over the forecast period. In addition, different environmental mandates across nations and high research & development are some challenges which are anticipated to overcome by the market players during the forecast period.
“Expansion of the beverage industry to spur the segment growth”
In 2021, the beverage segment was dominant in the global aseptic packaging market in terms of revenue and volume. The aforementioned segment has nearly 40% global market revenue share and nearly 45% sales volume share in the same year. Worldwide growth in the beverage industry and increased demand for quality & convenience products are the major factors for the dominant position of the segment in 2021. The global beverage industry in 2018 was valued at more than US$ 1.6 Tn and expected to reach over US$ 1.9 Tn by 2023 with a CAGR of around 3.5%.
“Growing demand for ready-to-drink beverages anticipated boosting the segment revenue”
The rising demand for ready-to-drink beverages such as energy drinks, flavored water, vegetable juices, smoothies, and others are expected to further enhance the segment growth in years to come. The growing disposable income and launch of new ready-to-drink products by major market players are some other prominent factors anticipated to drive the segment demand over the forecast period. For instance, in the U.S., in 2018, with the North American Coffee Partnership (NACP), PepsiCo and Starbucks expanded their ready-to-drink portfolio with the launch of new products such as Starbucks Doubleshot Coffee Smoothies. Therefore, the beverage segment is projected to continue its dominance throughout the forecast period.
“Growing consumer spending is expected to enhance the Asia Pacific growth”
Asia Pacific accounted for the largest share in the aseptic packaging market in 2021. Asia Pacific contributed to over 1/3rd of the market share globally in the same year and more than 40% market share in volume terms. The rising consumer spending and growing food & beverage industry in the region are the major factors for the dominant position of the region. According to a recent report, Asia Pacific eating out average growth rate was 9.8% during 2006-2016 and expected to show an average annual growth rate of 7.5% over the forecast period. A surge in stringent government regulations coupled with the growing adoption of technology are some other major factors driving regional growth over the forecast period. The increasing concern for product safety and shelf life is one of the promising factors anticipated to further enhance regional growth.
Key Industry Developments:
List of Companies Covered:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Aseptic Packaging market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
