Market Trends of LA Aseptic Packaging Industry
This section covers the major market trends shaping the Latin America Aseptic Packaging market according to our research experts:
Increasing Demand for Longer Shelf Life of Products
- Consumers have been demanding products with extended shelf life and easier usage. This has necessitated the companies to develop alternate packaging solutions. Shelf life has been an important aspect of the product. With companies looking to expand their product offerings with less dependency on sophisticated cold storage chains, producing packages that provide longer shelf life has become imperative.
- The shelf life can be increased by protecting the products from potential deteriorating agents, such as oxygen, moisture, and microbes. In order to protect their products, companies need a packaging solution that can achieve the same and is also cost-effective. Reducing wastage throughout the food supply chain is likely to become a crucial activity to reduce the environmental impact of agriculture and serve the increasing food demand. Therefore, investing in efficient, low-cost, and sustainable processing and packaging solutions to increase the shelf life of products (especially dairy, baby food, and nutraceuticals) is a viable solution, thus augmenting the requirement of aseptic packaging.
- Changing lifestyles and the consequent dependence of consumers on processed, packaged, and precooked food is increasing the demand for aseptic packaging solutions. The advent of the supermarket culture has also altered the shopping landscape and has increased the need for packaging, especially in food and beverage products. The altering lifestyle of people has resulted in the shift from home-cooked to ready-to-eat products. In addition to this ease of use, these products should also be packaged in such a way to ensure they are fresh and uncontaminated.
- Food packaging has no longer just a passive role in protecting and marketing a food product. The emphasis on the decrease of the use of preservatives is also a driving factor for the use of aseptic packaging as aseptic food preservation methods enable processed food to be kept for a longer period of time without preservatives as long as they are not opened.
- Moreover, with the growing population in the region, the production of milk is increasing as cow milk is a part of the daily diet. For instance, according to the Organisation for economic cooperation and development Production of milk in Mexico is estimated to reach 12.6 million tons by the end of 2021. Thus driving the market's demand.
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Pharmaceutical sector is expected to higher witness growth during the forecast
- Prefillable syringes overcome disadvantages of parenteral drug delivery, such as lack of convenience, affordability, accuracy, sterility, and safety. These syringes enable easy management of chronic diseases, such as Diabetes and Rheumatoid Arthritis, which is expected to boost the use of auto-injectors and pen injectors over the forecast period. Thus, the growing prevalence of Diabetes and other chronic diseases in the Latin American region is expected to fuel the market demand over the forecast period.
- Prefilled syringes are emerging as one of the fastest-growing choices for unit dose medication as the pharmaceutical industry seeks new and more convenient drug delivery methods. Also, Pharmaceutical companies minimize drug waste and increase product life span, while patients can self-administer injectable drugs at their homes instead of the hospital.
- According to the International Diabetes Federation, Brazil in the Latin American region accounted for the highest number of Diabetes in adults among other countries like Argentina, Mexico, Colombia, and Peru. This increases the need for prefillable syringes and drives the demand for aseptic packaging.
- Further, Argentina has its own R&D capabilities. In January 2021, the country introduced a serum against COVID-19 called the hyperimmune serum, developed with antibodies from a horse. Furthermore, the Government of Argentina aimed to increase its production capacity to 60,000 vials per month. Also, according to clinical researchers, the number of doses depends on the weight of the patient, which may further drive the demand for aseptic packaging solutions.
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