The global AntimicrobialPackaging market is expected to value at USD 11.92 billion by 2024. The antimicrobial packaging industry is subject to witness a substantial growth due to the rising demand for advanced packaging solutions in confectionery and bakery sectors. Antimicrobial type of packaging is gaining popularity in preservative free food products that need minimal processing and are perishable.
Increasing
level of awareness associated with consumer health and longer shelf life of
products are expected to fuel market demand for antimicrobial packaging
solutions over the next seven years. Globally, the antimicrobial packaging
market is predicted to grow at a CAGR of 5.0% in the forecast period, providing
numerous opportunities for market players to invest for research and
development in the market.
The
factors affecting the growth of antimicrobial packaging industry are varying
food preferences, enhancements in living status, and rising disposable
earnings. Furthermore, implementation of modern techniques in packaging sector,
and rising preference towards food safety concerns, are predicted to uplift the
demand for antimicrobial packaging over the forecast period.
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The
other factors that are significantly contributing to industry growth include
growing demand for hot and easily available packaged food products coupled with
soaring demand for convenient & sustainable packaging solutions. Increasing
demand for bioplastics and metal composites of aluminum, steel, and plastic
grades like polyethylene terephthalate (PET) & polyethylene (PE), glass,
and paper for convenient & sustainable packaging solutions, are expected to
drive market growth of antimicrobial packaging market. Rapid industrialization
in BRICS economies such as Brazil, Russia, India, China and South Africa is
expected to stimulate market growth of antimicrobial packaging in the upcoming
years.
Aggressive
marketing by the industry players and numerous brand improvement efforts by energy
drink manufacturers are attracting more consumers, thus driving market demand
for enhanced beverage packaging solutions. Increasing popularity of the ready
to drink (RTD) beverages coupled with increasing number of local manufactures
across the globe are anticipated to boost market demand for advanced
antimicrobial packaging solutions.
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However,
the major task of antimicrobial packaging is to preserve the quality of the
stored food product. The antimicrobial packaging solutions not only provide
prevention from the downgrading and spoilage in the food but also preserve the
food products by maintaining quality with regards to its appearance, odor,
taste and vitamin content. The use of the antimicrobial packaging enhances the
commercial value of the food product and limits financial loss for the food
manufacturer.
The
antimicrobial packaging industry is broadly categorized into three major
segments based on the application type such as food & beverage industry,
healthcare sector and personal care& cosmetics industry. The food &
beverage industry is considered as one of the fastest growing segment in the
with substantial revenue generation in the last few years. Growing popularity
of antimicrobial packaging solutions in the food & beverage segment is
attributed to the changing food preferences and rising disposable income. The
personal care& cosmetics segment has also witnessed substantial growth
owing to the increasing demand for personal care products from Asia Pacific
& North America region.
The
antimicrobial packaging market is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest technologies in
packaging sector, increase in the number of research & development
activities in the region and existence of well-established infrastructure.
Asia-Pacific region is predicted to hold major market share in antimicrobial
packaging with massive growth in forecast period.
Countries
such as India, China and Singapore are leading the Asia-Pacific market with
changing food preferences, rising per capita income, and significant investment
by leading industry players considering potential growth opportunities in the
region. The key players in the antimicrobial packaging industry are Mondi Plc,
BASF Group, Dow Chemicals Co., Dunmore Co., PolyOne Co., Linpac Senior
Holdings, Inc., Bicote Co., Microban International, Inc., and Agion Colorcon
Co.
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