Global Aseptic Packaging Market to Reach $32.30 Billion by 2028, States the Report by Allied Market Research
Allied Market Research published a research report on the aseptic packaging market. The findings of the report states that the global market for aseptic packaging is expected to reach $32.30 billion by 2028, manifesting a CAGR of 9.8% from 2021 to 2028. The report provides valuable data on changing market dynamics, key segments, top investment pockets, and competitive scenario for market players, new entrants, investors, and shareholders.
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“Growth of the aseptic packaging market is majorly driven by urbanization in developing countries and increasing adoption of sustainable products. On the basis of packaging type, the carton segment dominated the aseptic packaging market growth in 2020. Moreover, on the basis of material, the paper and paperboard segment dominated the market. In addition, on the basis of region, the Asia-Pacific region dominated the market and is expected to continue this trend during the forecast period.” Stated Rohit Sawant, Industry Analyst for Construction & Manufacturing at Allied Market Research
The report provides detailed information based on the key determinants of the market to assist market players in devising growth strategies. Increase in government expenditure on healthcare, improved recycling rates for packaging, and rise in adoption of automation in the production propel the growth of the global aseptic packaging market. On the other hand, variations in raw material prices impede the market growth. However, rise in e-commerce sales and untapped potential in emerging economies present lucrative opportunities in the coming years.
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The report offers an in-depth scenario of impact of the Covid-19 pandemic on the aseptic packaging market globally. This helps the investors, market players, and new entrants to strategize according to impacts by the outbreak of the pandemic. The initial phase of the Covid-19 pandemic led to the decreased demand for aseptic packaging due to limitations imposed on hotels and retail industry. However, the demand started recovering as the food and beverage industry was considered among essential service category. Production activities, furthermore, were restrained during initial stages of the lockdown as supply chain got disrupted and shortage of raw materials occurred. However, the production is gaining speed after the relaxations over restrictions got announced.
The report offers detailed segmentation of the global aseptic packaging market on the basis of packaging type, material, end-user industry, and region. These insights are helpful for the new entrants as well as current market players to capitalize on the fastest growing and highest revenue generating segment to accomplish growth in the coming years.
Based on packaging type, the carton segment dominated with the largest market share, accounting for nearly three-fifths of the total market share in 2020, and is expected to maintain its dominance in terms of revenue throughout the forecast period. In addition, this segment is projected to showcase the largest CAGR of 10.2% from 2021 to 2028.
Based on material, the paper & paperboard segment accounted for the highest share in 2020, with nearly three-fifths of the global aseptic packaging market, and is estimated to continue its leadership status during the forecast period. Furthermore, this segment is expected to cite the highest CAGR of 10.1% from 2021 to 2028.
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Based on region, the market across Asia-Pacific region accounted for the highest market share in 2020, holding nearly two-fifths of the total share, and is expected to maintain its lead position in terms of revenue by 2028. However, LAMEA region is expected to witness the fastest CAGR of 11.2% during the forecast period. The other two province studied in the report include Europe and North America.
Leading players of the global aseptic packaging market analyzed in the research include Smurfit Kappa Group plc, Sonoco Products Company, Tetra Laval International S.A., Stora Enso Oyj, Amcor plc, Mondi plc, DS Smith Plc, SIG Combibloc Group AG, Reynolds Group Holdings Limited,and UFlex Limited.
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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 domains.
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