Aseptic packaging a $85.47 billion market by 2024

ASEPTIC packaging continues to be in high demand from food service entities and retailers. The technology extends product shelf life at ambient temperature, therefore eliminating the need for refrigeration. With it end-users can meet demand for safe and sterile food and pharmaceutical products.

In a new report, Grand View Research, Inc. says that the market for this packaging will reach US$85.47 billion by 2024. The US-based market research and consulting company says food remains the key application segment for aseptic packaging, which will grow at a CAGR of 11 percent over 2017-2024.

In food, the aseptic process is carried out at lower temperatures, so the texture, appearance, flavor and nutritional value of food products remain unaffected. In addition, lightweight and recyclability offered by aseptic packaging have a positive impact on the industry growth over the forecast period.

Aseptic packaging comes in the form of rolls or blanks. The roll-fed filling technique dominates the market and has been adopted by the major manufacturers such as Tetra Pak. Companies such as Elopak and SIG have adopted the blank filled systems. These two technologies are not interchangeable since the process and equipment associated with these two methods are different. As a result, buyers are unable to switch from one process to other. High capital investment is likely to be a key restraining factor for the industry.

In this sector, investment, divestment, capacity expansion and new product development are strategies to strengthen market position, says Grand View. Major players will also be investing more on R&D and innovation to fulfill changing demands in product quality, performance, and appearance.