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Albany, New York, June 27, 2019 (GLOBE NEWSWIRE) -- The key players in the global aseptic packaging market are focusing on the expansion of production capacities of the aseptic packaging, TMR analyzed. For instance, recently in 2019, Ecolean, a Sweden-based company engaged in lightweight packages and filling systems announced a collaboration with Alpura. Through this collaboration, the Ecolean will be adding the aseptic flexible packages to Alpura’s production capabilities. As the demand for the improved packaging is growing, the key players are investing largely in the research and development for products advancements.
Weaving the Eco-friendly Nature of Raw Materials Benefits the Market Growth
Additionally, in order to gain a competitive edge, the key players are focusing on the products innovation to meet up the swiftly changing consumer preferences. This is paving a way for the better performing and appearing products, which is estimated to fortify the market growth and help to strengthen their foothold in the market.
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Further, growing inclination toward the use of biodegradable material is slowing the growth of the market; however, the players in the aseptic packaging market are estimated to add the focus on the use of biodegradable raw material to ensure the ecological sustainability of packaging. For instance, one of the key players, Tetra Pak is swiftly changing the use of raw materials while manufacturing the aseptic packaging since 2018.
The company has weaved the use of eco-friendly or the biodegradable raw material as one of the strategy. Thanks to these kinds of initiatives, TMR estimates that the global aseptic packaging market is likely to reach at US$80.49 bn by 2024 by exhibiting a CAGR of 10.0% from US$41.31 bn as of 2017.
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Robust development and technological evolution happening in the developing regions such as China and India is leading to make Asia Pacific a dominant region in the aseptic packaging market. The region is estimated to accumulate the value of US$31,488.9 million and expansion at a CAGR of 39.1% during the forecast period till 2024. Thus, the market is featuring the consolidative vendor landscape due to the strong presence of handful of companies. Greatview Aseptic Packaging Company, Elopak, Schott AG, SIG Combibloc, and Tetra Pak are some of the players having a strong presence in the global aseptic packaging market.
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The market is segmented along the following lines:
Global Aseptic Packaging Market - Product Analysis
Global Aseptic Packaging Market - End-user Analysis
Global Aseptic Packaging Market - Regional Analysis
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