Packaging plays a vital role to preserve and protect a product from any damage or contamination. Some critical products require sterilized packaging to not only protect the product but also avoid reaction with packaging solutions and air.

- Medical devices manufacturing industries, food and beverage, pharmaceuticals, and other industries are now opting for sterile and disinfect packaging. This is a result of the rising incidence of viral infections due to the use of non-sterile instruments. The awareness about such infections is increasing and so is the demand for sterilized packaging.

- The sterilization process improves shelf life with aseptic packaging of critical devices and 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. Hence, restricting the growth of the market.

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. 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. India and China, together contributed over 70% of the total share of Asia-Pacific share, in 2018.

- Medical devices manufacturing industries, diagnostic centers, 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 plans 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 sterilized packaging in 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.

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