The global aseptic packaging market is expected to register a CAGR of 7.07% during the forecast period and is expected to hit USD 75,548.7 billion by 2027.
The global aseptic packaging market is driven by factors such as growing demand from the food & beverage industry, proliferation of the packaging industry, and need to extend the shelf life of products. However, fluctuation in raw material prices is expected to restrain the market growth. Increasing demand in emerging economies are expected to create opportunities for the market players.
The global aseptic packaging market is mainly segmented into material, type, and application. On the basis of material, the aseptic packaging market has been sub-segmented into plastic, paper & paper board, metal, and glass. On the basis of type, the aseptic packaging market has been segmented into cartons, bottles & cans, bag & pouches, vials & ampoules, and prefillable syringes. On the basis of application, the aseptic packaging market has been segmented into food, beverages, and pharmaceuticals.
The global aseptic packaging market has been segmented on the basis of region into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The North American market is further divided into the US, Canada, and Mexico. The European aseptic packaging market has been segmented into Germany, France, the UK, Italy, and the rest of Europe. The aseptic packaging market in Asia-Pacific has been segmented into China, India, Japan, and the rest of Asia-Pacific. The Middle East & Africa aseptic packaging market includes the UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa. The South America aseptic packaging market includes Brazil, Argentina, and Rest of South America.
The North America aseptic packaging market is predicted to witness robust growth during the forecast period. The growth can be attributed to the global market players that are expanding their presence in the region, along with strategic developments between the raw material suppliers. For instance, in 2018, Hoffmann Neopac AG, a Switzerland-based manufacturer of primary packaging for the Aseptic l and cosmetics industries, established a new manufacturing plant in the US. Moreover, Bormioli Pharma S.p.A., an Italian glass and plastic packaging company catering to the global pharmaceutical market, strengthened its services operations in North America.
Europe is projected to witness significant growth during the study period owing to the new directives set by the European Union (EU) authorities for pharmaceutical packaging on false medicines in 2017. The EU authorities have introduced anti-counterfeiting technologies, such as overt technology, covert technology, and forensic technology for pharmaceutical packaging, further contributing to the ongoing development of packaging methods and techniques by the pharmaceutical packaging companies in the region.
Key Findings of the Study