Aseptic Paper Packaging Market Opportunities to reach US$13,611.0Mn by 2025 End, Several Benefits offered in Eco-friendly Packaging accentuating Demand
The global aseptic paper packaging market features a fairly fragmented landscape owing to the marked presence of several players vying with other for higher share of the market, notes Transparency Market Research (TMR). The market is intensely competitive due to relaxed entry barriers for new entrants. Over the years, the low entry barrier will raise the level of threat for incumbent firms’ profits and revenue, thereby making the market more competitive, observes TMR.
TMR also notes that a growing number of companies are likely to focus on industrial end-users and enter into long-term contracts with them for supplying materials for aseptic paper packing. Over the years, prominent players are expected to develop aseptic packaging with higher storage capacity. Some of the top players operating in the aseptic paper packaging market include Mondi Ltd., Polyoak Packaging Group (Pty) Ltd., SIG Combibloc Obeikan (South Africa) (Pty) Ltd., Refresco Gerber N.V., Nampak Ltd., Nippon Paper Industries Co., Ltd., and Tetra Pak International S.A.
The global aseptic paper packaging market stood at US$8,894.8 million in 2017. Expanding at 5.5% CAGR during the forecast period of 2017–2025, the market is prognosticated to reach a worth of US$13,611.0 million by the end of this period.
The key paper types used in aseptic packaging encompasses coated unbleached and bleached paperboard. Of the two, the former holds the leading share of over 60% in the global market in 2017. The segment is expected to rise at a higher CAGR that that of the overall market over the assessment period.
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On the regional front, Asia Pacific is projected to rise at the most promising CAGR of 6.2% during 2017–2025. The regional market is estimated to churn out the highest absolute opportunity amounting to US$5,247.6 million by the end of this period. The growth is driven by extensive demand for this type of packaging in the rapidly rising food and beverages sector.
Attractive uptake of Aseptic Paper Packaging in Food and Beverage Sector accentuating Market
The aseptic paper packaging market is driven by the substantially rising demand for this type of hygienic packaging in the food and beverages industry. The proliferating uptake of aseptic paper packaging for the packing of dairy products world over is a notable factor accentuating the revenue of the market. The application of aseptic processing helps dairy manufacturers in creating shelf-stable products that don’t need refrigeration for preserving their efficacy.
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The demand for aseptic paper packaging is gaining traction in the packaging of food and pharmaceutical products as this does away with the need for refrigerating the entire packaging. The marked convenience imparted by aseptic packaging to on-the-go consumer segment is catalyzing the growth of the global market. The use of aseptic paper packaging incurs less cost, is easier to produce, and allows disposability. The substantial demand for lightweight convenient packaging options for yogurts, alcoholics, and fruit juices is booting the market.
Easier Availability of Alternate Packing tough Challenge for Market Players
The rise in demand for aseptic paper packaging for ready-to-drink products is catalyzing the growth of the market. Robust strides being made by convenience food sector in several parts of the globe is also propelling the demand for aseptic paper packaging. However, the demand is hampered by the presence of equally attractive alternate packaging solutions such as those made by plastics and glass.
Nevertheless, the market is likely to reap significant gains from the advent of eco-friendly and sustainable packaging. Moreover, the practicality of aseptic paper packaging in reducing the cost and hassles in product transportation is bolstering its popularity.