Global aseptic packaging market set to grow between 2018 and 2024

The global aseptic packaging market is expected to grow at a CAGR of more than 9.9% between 2018 and 2024, when it is likely to surpass $70 billion.

Image credits: Veganbaking.net from USA [CC BY-SA 2.0], via Wikimedia Commons

According to a new research report by Global Market Insights, the food and beverages industry holds more than half of market share due to the significant advantages provided by aseptic packaging (better taste, higher nutritional value and longer shelf life).

The food and beverages sector is expected to grow at a CAGR of more than 7% over the coming years, driven by increasing demand for ready meals, while the carton packaging segment is currently growing in dairy applications as it provides protection from oxidation.

The Asia Pacific region, led by China and India, is expected to surpass $25 billion by 2024 due to rapid changes in lifestyle and consequently consumer preferences.