Introducing Latest Industry Aseptic Packaging Market 2019 – 2024

According to a new research report by Global Market Insights, Inc. Aseptic Packaging Market size will exceed USD 70 billion by 2024. Amplifying demand for dairy and other edible products is expected to escalate aseptic packaging market growth over 2017-2024. Product has found wide ranging application in dairy products or food and beverages segment. Milk production across the world has reached 843 million tons in 2018 up by 2.2% from 2017.  Increasing milk production is mainly driven by countries like India, Turkey, EU, Argentina, USA, and Pakistan with rising demand for fresh and processed dairy products.

Aseptic carton packing preserves quality, taste, and nutritional values over time and prevents content exposure from contaminants which contributes substantially to the growth of aseptic packaging industry share. Latest multilayer carton structure has significantly developed over time which is particularly designed to ensure structural integrity to package, excellent sealing properties, and protective barrier for filled products. For example, Tetra Pack has aseptic cartons that have 6 layers which results in a safe, lightweight, and very efficient package. Aseptic packaging market forecast report estimates that carton packing segment will grow at a CAGR of nearly 8% over 2017-2024.

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Aseptic bags are manufactured by cutting, vacuum packing and sanitizing from polyethylene in a hygienic environment. These bags have found expansive application in auxiliary pharmaceutical materials, solid aseptic raw materials, and other areas and expanded aseptic packaging industry outlook. Expanding usage of the product can be attributed to its sterility, non-toxicity, temperature resistant properties, and excellent chemical stability which in turn has helped in improving aseptic packaging market trends.

Dairy is one of the major application segments in aseptic packaging industry owing to soaring milk production in Asia. The growth can also be attributed to intensifying demand for hygienic packaging in dairy segment as products in this segment are perishable. A few other end-user segments are agricultural, chemicals, cosmetics, etc. which are predicted to witness substantial CAGR by 2024. Aseptic packaging has application in personal care products including lotion, hand sanitizer, soap etc. to maintain purity and freshness.

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In 2016, North America emerged as a key contributor in food & beverage sector which held over 15% share in global retail value sales. Escalating awareness about advantages of consuming fresh food products has resulted in growing demand for fresh packaged food items like dairy products, meat, fish, etc. North America has observed high product demand which will enhance aseptic packaging market trends.

Lucrative pharmaceutical manufacturing sector in the U.S. will emerge as a supportive growth enabler for aseptic packaging industry outlook. For example, in 2015, global healthcare expenses accounted for around $7.07 trillion. Out of this, highest expenditure was noted by the U.S., accounting for almost $3.3 trillion whereas Africa and Middle East spent $112.7 billion. Thus, medical sector in North America is a potential growth ground for aseptic packaging. Canada aseptic packaging market size will be majorly driven by advancing medical sector. In 2016, healthcare spending in Canada accounted for over one-tenth of its entire GDP, a factor that will fuel aseptic packaging industry size in the country in the coming years.

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Aseptic packaging market rivalry is quite high due to presence of several small and large players in the business landscape. Key participants contributing in aseptic packaging industry include Scholle IPN, Sealed Air Corporation, Tetra Laval International S.A., and Amcor Limited. Aseptic packaging market forecast report predicts the market value to surpass revenue share of more than $70 billion by 2024.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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