Global Aseptic Packaging Market: Restricted Entry of New Vendors to Reflect Negatively on Market’s Growth, Says TMR
With a clear dominance of Tetra Pak, the global market for aseptic packaging demonstrates a highly consolidated competitive landscape, finds a new study by Transparency Market Research (TMR). In 2015, Tetra Pak, alone, held a share of more than 65% in the overall market. The highly complex production process of aseptic packaging and the need for high initial investments has created an intense entry barrier for new players. However, companies looking to venture into this market can gain a foothold in emerging markets by introducing cost-efficient product varieties as their entry strategy. SIG Combibloc, Greatview Aseptic Packaging Co., Schott AG, and Elopak are some of the other prominent participants in this market.
As per TMR, the global market for aseptic packaging held an opportunity of US$34.4 bn in 2015. Experts project it to report a healthy CAGR of 9.90% between 2016 and 2024 and increase to US$80.4 bn by the end of the forecast period. The pharmaceutical industry has emerged as the key end user of aseptic packaging. In 2015, the segment accounted for a share of more than 35% in the total demand for aseptic packaging.
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With China Emerging as Key Contributor to Global Market, Asia Pacific to Retain Lead
The report has also presented an analysis of the global market for aseptic packaging on the basis geographical segments. Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa are the key regional market for aseptic packaging across the world. Driven by the growing demand for aseptic packaging across a number of industries, such as pharmaceuticals and food and beverages, Asia Pacific has been leading the global market since the last few years. The region held a share of more than 32% in the overall market in 2015.
With China emerging as a key contributor to the global market for aseptic packaging, thanks to the presence of a large pool of manufacturers, who are capable of producing low-cost varieties, the Asia Pacific market is expected to retain its position throughout the forecast period. The regional market is also projected to benefit from the rising application of aseptic packaging in various end-use industries in countries such as Thailand, India, and Pakistan in the near future, states the report.
Demand for Aseptic Packaging Driven by Growing Awareness about its Capability to Retain Food Freshness Longer
“The growing awareness among consumers pertaining to the benefits of aseptic packaging and its ability to keep food items fresh for a longer period without using additional preservatives has been fueling the usage of aseptic packaging significantly all over the world,” says an analyst at TMR.
Nowadays, the consumption of ready-to-eat and packaged food has increased remarkably. On account of the longevity aseptic packaging provides, food product vendors are increasingly applying this packaging on their products. Since ready-to-eat and packaged foods are likely to become the most preferred categories of food products for busy urban consumers in the near future, the demand for aseptic packing is projected to increase at a faster rate in the coming years, notes the study.
Global Aseptic Packaging Market to Face Dearth of Product Varieties due to Complicated Production Procedure
The global market for aseptic packaging is mainly hindered by two challenges, the highly complicated procedure of the production of aseptic packaging and the intense loyalty of consumers towards specific brands.
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Many enterprises have refrained from entering this market due to the complicated manufacturing procedure as well as the need for a large sum to setup the manufacturing units. Along with the consumer preference for the products of a few specific brands, this factor leads to a lack of product varieties, which in turn, will limit the growth of this market in the long run.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Aseptic Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
The global aseptic packaging market has been segmented as follows:
Bottles (Glass, Plastic)
Vials, Prefilled Syringes & Ampoules
Bags & Pouches
By End User
Others (Personal Care, etc.)
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