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Hot Fill Packaging Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region
Hot Fill Packaging Global Market Report 2024
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According to The Business Research Company's, The hot fill packaging market size has grown strongly in recent years. It will grow from $57.84 billion in 2023 to $60.80 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to microbial safety, shelf life extension, consumer demand for convenience, growing food industry and food safety laws, and economic efficiency.
The hot fill packaging market size is expected to see strong growth in the next few years. It will grow to $74.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to consumer demand for convenience, health and wellness trends, technological advancements, regulatory standards, regulatory sustainability concerns, sustainability concerns, and market expansion. Major trends in the forecast period include sustainable materials, lightweight packaging, enhanced barrier properties, smart packaging, aseptic hot fill, and custom packaging solutions.
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Market Drivers and Trends:
Increasing consumption of beverages is expected to propel the growth of the hot fill packaging market going forward. The consumption of beverages is rising due to the increasing global population, urbanization, and the growing demand for convenience and variety in diets. Hot-fill packaging in beverages extends shelf life by sterilizing both the product and container at high temperatures, ensuring safety and preserving quality without the need for preservatives. For instance, in March 2022, according to the Australian Bureau of Statistics, an Australia-based government statistical agency, in the 2020-21 period, supermarkets, grocery stores, convenience stores, specialty food stores, and fresh food markets in Australia collectively sold 14.7 million metric tons of food and non-alcoholic beverages. This marked a 1.4% increase (equivalent to 204,100 metric tons) compared to the preceding 12 months (2019-20). Therefore, the increasing consumption of beverages is driving the growth of the hot fill packaging market.
Major companies operating in the hot fill packaging market are developing innovative products, such as hot-fill sauce bottles, to sustain their position in the market. Hot-fill sauce bottles are containers specifically designed to withstand the high temperatures of the hot-fill process used for packaging sauces. For instance, in June 2022, Berry Global Group Inc., a US-based packaging company, launched Nova, a new line of hot-fill sauce bottles. These bottles are designed to have an appealing appearance on the shelf and offer maximum consumer convenience. Nova bottles come in 250- and 500-ml sizes, are made from clear polypropylene (PP), and feature a modern curved design. They are suitable for both top-down and upright use and have a large label area for impactful product branding. The bottles are manufactured using a multilayer structure of polypropylene, ethylene vinyl alcohol, or polypropylene, which extends their shelf life and makes them appropriate for cold and hot filling up to 95 °C. The top-down design and easy squeezability help reduce product waste by ensuring precise dispensing and maximizing product evacuation.
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Major Key Players of the Market:
Amcor plc, Berry Global Inc., DS Smith, Borealis AG, Sonoco Products Company, Silgan Holdings Inc, ALPLA Werke Alwin Lehner GmbH & Co KG, Klöckner Pentaplast, Graham Packaging Company, Pretium Packaging, RESILUX NV, Placon, Gualapack S.p.A, Pipeline Packaging, United States Plastic Corp, MJS Packaging, Kaufman Container, Ya YA Foods Corp., LOG Plastic Products Company Ltd., Imperial Packaging, Constar International LLC
Hot Fill Packaging Market 2024 Key Insights:
• The hot fill packaging market size is expected to see strong growth in the next few years. It will grow to $74.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
• Rising Beverage Consumption Fuels Growth In Hot Fill Packaging Market
• Innovative Trends In Hot-Fill Sauce Bottle Design And Packaging
• North America was the largest region in the hot fill packaging market in 2023
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