by Market Overview:
The global Aseptic Processing Market is estimated to be valued at US$ 92.82 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Aseptic processing is a technique used for sterilizing and packaging food and beverage products. It involves applying high heat briefly to the product to kill microorganisms and then packing it in pre-sterilized containers under aseptic conditions before sealing. This technique helps extend shelf life of products without needing refrigeration. It is widely used for packaging milk, fruit juices, sauces and other food items. The need for convenient and long shelf life food packaging is driving the adoption of aseptic processing worldwide.
Market key trends:
One of the major trends in the aseptic processing market is the rising demand for packaged milk and fruit juices. Consumers are increasingly opting for packaged milk owing to advantages such as freshness and longer shelf life. Likewise, juices packaged through aseptic processing are gaining traction. Another trend is the innovation of new products like dairy blends that require aseptic packaging. Growing popularity of ready-to-consume packaged beverages is also propelling the market growth. Lastly, shift towards eco-friendly packaging solutions by key players is expected to determine the future course of this market.
Porter’s Analysis
Threat of new entrants: The aseptic packaging market requires high capital investments in setting up aseptic processing units, aseptic packaging equipment, and following strict regulations. This poses high entry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of numerous global and regional players offering similar products in this market.
Bargaining power of suppliers: The suppliers have moderate bargaining power owing to availability of substitute components from different suppliers and ease of switching.
Threat of new substitutes: Limited threat from substitutes such as modified atmosphere packaging and barrier films packaging as they cannot provide long shelf life of perishable products as provided by aseptic packaging.
Competitive rivalry: High as major players compete on the basis of product offerings, pricing, innovation, and strong distribution network.
Key Takeaways
The Global Aseptic Processing Market Size is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing demand for canned food and long shelf-life beverages.
Regional analysis: North America dominates the global aseptic processing market due to stringent food safety regulations and increased demand for convenience and packaged food & beverages from countries like US and Canada. Asia Pacific exhibits the fastest growth due to growing food processing industries in China and India coupled with rising disposable incomes.
Key players: Key players operating in the aseptic processing market are Amcor Limited, Becton, Dickinson And Company, Robert Bosch Gmbh, Aran Packaging (Aran Group), Dizaynpak Baski Ve Ambalaj Teknolojileri A.Åž., Ipi S.R.L., Sealed Air Corporation, And Schott Ag. Amcor Limited leads the market owing to its diverse product portfolio and global presence.
