With Tetra Pak alone accounting for a share of over 65%, the
competitive landscape of the global aseptic packaging market features
a markedly high level of consolidation and intense entry barriers for
new vendors, reports Transparency Market Research in a recent report.
The highly complex manufacturing process and requisition of high
initial investments have also refrained many companies from venturing
into the market for aseptic packaging so far.
However, even though intense entry barriers exist on the global
level, new vendors could make a mark by introducing cost-effective
product varieties as their entry strategy, especially in the highly
lucrative emerging markets. In the next few years, the vast growth
opportunities in the global aseptic packaging market are likely to
attract new companies.
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Low cost of raw material and relatively cheaper labor in developing
regions will naturally be the most promising locations for
establishing manufacturing units. Other key vendors operating in the
global aseptic packaging market include SIG Combibloc, Schott AG,
Greatview Aseptic Packaging Company, and Elopak.
Rising
Demand across Food and Beverages, Dairy Industries to Fuel Growth
The rising consumer awareness about the benefits of aseptic packaging
and its capability of keeping food products in their original form
for a long duration, without the need for added preservatives to
ensure longevity and sustained quality is boosting the usage of
aseptic packaging across industries such as food and beverages and
dairy products. The rising global consumption of ready-to-eat and
packaged food products is also fueling the demand for aseptic
packaging in these industries. In the next few years, ready-to-eat
and packaged foods are expected to be the most preferred category of
food products for busy urban dwellers, especially in emerging
economies. The trend will substantially enhance the overall growth
opportunities of the global aseptic packaging market.
The market is also expected to benefit from the fact that aseptic
packaging products such as cartons are environmentally safer when
compared to glass bottles and PET products. Studies have demonstrated
that manufacturing and disposal of aseptic packaging products results
in the release of relatively lower amount of emissions considered
harmful for the environment. Their manufacturing also consumes lesser
fossil resources as compared to glass bottles and PET products. These
factors are expected to have a massive impact on the future
development of the global aseptic packaging market as the rising
awareness regarding environment preservation among consumers will
compel consumers to switch to eco-friendly products.
Complex
Manufacturing Process and Preference for Known Brands to Restrain
Growth
The highly complex process of manufacturing aseptic packaging and
preference of consumers to products from renowned brands are two of
the key challenges that the global aseptic packaging market presently
faces. Owing to the complex manufacturing process and
capital-intensive setup of manufacturing units, not many companies
have ventured into the market, leading to a dearth of product
varieties.
Also, the consumer has largely been biased towards the most prominent
brands available in the market, leading to a highly polarized market.
New vendors wishing to enter the market are required to focus on ways
of value addition to their offering for product differentiation.
These factors are collectively having a massive negative impact on
the overall development of the global aseptic packaging market,
limiting its expansion prospects across a larger consumer and
application base.
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Asia
Pacific to Retain Dominant Positions
The global aseptic packaging market is expected expand at an
excellent 9.9% CAGR over the period between 2016 and 2024. Expanding
at this pace, the market will rise from a valuation of US$34.42 bn in
2015 to US$80.49 bn by 2024. The pharmaceutical industry is presently
the key end-use industry, accounting for a share of over 35% in the
global market in 2015. Geography-wise, Asia Pacific accounted for a
dominant share of 32% in the global market in the same year. Both
these segments are expected to retain their dominance in their
respective categories in the global aseptic packaging market over the
forecast period as well.
This review is based on a recent market research report published by
Transparency Market research, titled “Aseptic Packaging Market -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2016 - 2024.”
For
this study, the market has been segmented as follows:
Aseptic
Packaging Market - Product Analysis
- Bottles (Glass, Plastic)
- Cartons
- Vials, Prefilled Syringes & Ampoules
- Bags & Pouches
- Others (Cups)
Aseptic
Packaging Market - End-user Analysis
- Food
- Dairy
- Beverages
- Pharmaceutical
- Others (Personal Care, etc.)
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