Press release
The Global Aseptic Packaging Market to Propel at CAGR of 9.24% by 2028
Global Aseptic Packaging Market
Triton's research report indicates that the global aseptic packaging market is likely to display growth in revenue by 9.24% of CAGR during the anticipated phase of 2021-2028.
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Aseptic packaging is a process wherein the package and its contents are sterilized in a separate environment. This packaging method is adopted by several industries, such as healthcare, food & beverage, and others.
The growing preference for plastics due to low cost, along with the adoption of advanced tools for aseptic packaging, are key elements generating new opportunities for the studied market. Several manufacturers are adopting automation and the Internet of Things in the food & beverage industry. The implementation of such advanced technologies helps overcome several issues, such as mislabeling and tempering of packages, and tracking products through the supply chain.
However, the volatile cost of raw materials and complications in the manufacturing process are impeding the overall development of the aseptic packaging market.
The Asia-Pacific is expected to become the fastest-evolving in the aseptic packaging over the considered period. The growing adoption of aseptic packaging can be attributed to the rising disposable income, urbanization, and surge in demand for food products. Additionally, the increase in aseptic packaging in the food & beverage industry offers multiple growth opportunities for the studied market in the upcoming years. Therefore, as stated above, these factors are responsible for widening the scope and growth of the aseptic packaging market in the APAC region.
The renowned companies involved in the aseptic packaging market are DS Smith Plc, Sonoco Products Company, Stora Enso Oyj, Tetra Laval International SA, Reynold Group Holdings Plc, SIG Combibloc Group AG, Sealed Air Corporation, Bemis Company Inc, Amcor Plc, Uflex Limited, Elopak AS, Schott AG, Smurfit Kappa Group Plc, and Mondi Plc.
In the studied market, the new players must gain regulatory approval, along with high initial capital to set up business operations. Here, the new entrants may lack the ability to adhere to several regulations, which can largely restrict their entry within the market. Simultaneously, the existing players are expanding their business through partnerships and alliances. Additionally, the high cost of equipment surges the barriers to exit. Therefore, the threat of new entrants and competition among existing players is probable to remain at a moderate level.
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