Aseptic market to grow by 2022
The market for aseptic processing, by equipment is projected to reach US$12.24 billion (€11.5bn) by 2022, growing at a CAGR of 3.8% from 2017, in terms of value, according to a report from Markets and Markets. The packaging market overall is projected to reach US$77.25 billion by 2022, growing at a CAGR of 10.6% from 2017, in terms of value.
In 2015, the food & beverage segment accounted for the largest share in the equipment market in terms of value, and is projected to grow at a higher CAGR from 2017 to 2022. The various dairy products that undergo aseptic processing and packaging include, UHT milk, creams, fermented dairy products, concentrated and condensed milk, flavored & formulated dairy products, and other dairy products. Beverage products include, fruit juices, carbonated drinks, tea, coconut water, and energy drinks.
The Asia-Pacific region is projected to be the fastest-growing market for packaging as well as the equipment market of the aseptic processing market, owing to its increasing economy with a large population base ready to spend on processed food and rapidly growing consumer markets of China, India, and Japan.