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Market Overview
The sterilized packaging market is expected to witness a CAGR of 5.01%, during the forecast period 2019 - 2024. In modern life, packaging plays a vital role to preserve and protect the product from any damage or contaminations. Some critical products require sterilized packaging to not only protect the product but also avoid reacting with packaging solutions and air.
- Medical devices manufacturing industries, food & beverage, pharmaceuticals and others are now concentrating more on the sterile and disinfect packaging due to the rise in viral infections due to the use of non-sterile instruments. The awareness about such infections is increasing and demanding sterilized packaging.
- The sterilization process improves shelf life with aseptic packaging of critical devices & equipment. Demand for longer shelf life is driving market growth.
- The increasing technological advancements, coupled with the stringent government regulations, have buoyed the growth of the market. On the other hand, due to increasing global healthcare cost, consumers are demanding cheaper products and restricting the growth of the market.
Scope of the Report
Sterile packaging helps protect drugs, medical devices, food products from getting contaminated. They are tear resistant, durable, breathable and has superior microbial barrier to make a packaging sterile and safe.
Key Market Trends
Sterilized Food Packaging to Witness Significant Growth
- Packaging plays a critical role in the food industry in terms of maintaining the quality and taste of the packaged food for a longer time. With the improvement in the standard of living of the consumers globally, demand for packaged food has shown rapid surge over the years.
- Globally almost 10% of the population falls ill after eating contaminated food. Additionally, 40% of diseases in children are foodborne diseases. FDA has suggested the use of sterile packaged food to improve the safety in food consumption.
- According to the FSSAI, the sales volume of packaged food products surged by over 48% in the span of 2012 to 2016. With the increase in demand for packaged food and awareness for the use of aseptic and sterile packaging is driving the market growth.
Asia-Pacific to Witness Fastest Growth
- Asia-Pacific has experienced positive growth in the sterilized packaging market and is estimated to witness significant growth, over the forecast period (2019 - 2024). The disposable income of consumers in the region has witnessed significant growth, which increased the standard of living of people in the region.
- The growing urban population in India and China with 33% and 51% respectively is increasing the demand for quality medical treatments in this region. India and China, together contributed over 70% of the total share of Asia-Pacific share, in 2018.
- Medical devices manufacturing industries, diagnostic centres, and hospitals are now concentrating more on the sterile and disinfect packaging of medical devices due to the rise in viral infections and various stringent regulations.
- ISRO has planned to conduct seven mega missions in the next 10 years. For instance, the second moon mission will be launched in July 2019 and the next missions for Mars and Venus are also included. These trends will boost the need for sterilization packaging in the spacecraft and space missions.
Competitive Landscape
The availability of several players providing sterilized packaging solutions has intensified the competition in the market. Therefore, the market is moderately fragmented with many companies developing expansion strategies.
- Mar 2019 - Amcor Limited planned to acquire its rival Bemis Company, Inc. By combining these two market leaders, Amcor aims to create a stronger value proposition for shareholders, customers, employees and the environment.
- June 2018- Tekni-Plex acquired Oracle Packaging's healthcare, performance lidstock, induction seal and speciality lamination businesses. The healthcare packaging portfolio includes pouchstock and sterilizable barrier laminates.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The sterilized packaging market is expected to witness a CAGR of 5.01%, during the forecast period 2019 - 2024. In modern life, packaging plays a vital role to preserve and protect the product from any damage or contaminations. Some critical products require sterilized packaging to not only protect the product but also avoid reacting with packaging solutions and air.
- Medical devices manufacturing industries, food & beverage, pharmaceuticals and others are now concentrating more on the sterile and disinfect packaging due to the rise in viral infections due to the use of non-sterile instruments. The awareness about such infections is increasing and demanding sterilized packaging.
- The sterilization process improves shelf life with aseptic packaging of critical devices & equipment. Demand for longer shelf life is driving market growth.
- The increasing technological advancements, coupled with the stringent government regulations, have buoyed the growth of the market. On the other hand, due to increasing global healthcare cost, consumers are demanding cheaper products and restricting the growth of the market.
Scope of the Report
Sterile packaging helps protect drugs, medical devices, food products from getting contaminated. They are tear resistant, durable, breathable and has superior microbial barrier to make a packaging sterile and safe.
Key Market Trends
Sterilized Food Packaging to Witness Significant Growth
- Packaging plays a critical role in the food industry in terms of maintaining the quality and taste of the packaged food for a longer time. With the improvement in the standard of living of the consumers globally, demand for packaged food has shown rapid surge over the years.
- Globally almost 10% of the population falls ill after eating contaminated food. Additionally, 40% of diseases in children are foodborne diseases. FDA has suggested the use of sterile packaged food to improve the safety in food consumption.
- According to the FSSAI, the sales volume of packaged food products surged by over 48% in the span of 2012 to 2016. With the increase in demand for packaged food and awareness for the use of aseptic and sterile packaging is driving the market growth.
Asia-Pacific to Witness Fastest Growth
- Asia-Pacific has experienced positive growth in the sterilized packaging market and is estimated to witness significant growth, over the forecast period (2019 - 2024). The disposable income of consumers in the region has witnessed significant growth, which increased the standard of living of people in the region.
- The growing urban population in India and China with 33% and 51% respectively is increasing the demand for quality medical treatments in this region. India and China, together contributed over 70% of the total share of Asia-Pacific share, in 2018.
- Medical devices manufacturing industries, diagnostic centres, and hospitals are now concentrating more on the sterile and disinfect packaging of medical devices due to the rise in viral infections and various stringent regulations.
- ISRO has planned to conduct seven mega missions in the next 10 years. For instance, the second moon mission will be launched in July 2019 and the next missions for Mars and Venus are also included. These trends will boost the need for sterilization packaging in the spacecraft and space missions.
Competitive Landscape
The availability of several players providing sterilized packaging solutions has intensified the competition in the market. Therefore, the market is moderately fragmented with many companies developing expansion strategies.
- Mar 2019 - Amcor Limited planned to acquire its rival Bemis Company, Inc. By combining these two market leaders, Amcor aims to create a stronger value proposition for shareholders, customers, employees and the environment.
- June 2018- Tekni-Plex acquired Oracle Packaging's healthcare, performance lidstock, induction seal and speciality lamination businesses. The healthcare packaging portfolio includes pouchstock and sterilizable barrier laminates.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
