The global market for antimicrobial packaging is characterized by a high level of competition, owing to its fragmented nature, states a market intelligence report by Transparency Market Research. The key players operating in the global market, namely Sciessent LLC, Takex Labo Co. Ltd., The Dow Chemical Company, and BASF SE are anticipated to lead the overall market and collectively account for a large share of the market in the next few years. However, with the rising number of players entering the market, an intense competition is likely to be witnessed throughout the forecast period. To enhance their market presence, the key players are focusing on opportunities in untapped markets across the globe. In addition, the increasing emphasis on the introduction of new products is likely to encourage the growth of the overall market in the coming few years.
According to the research report by Transparency Market Research, in 2016, the global antimicrobial packaging market was worth US$10.28 bn and is likely to reach a value of US$15.31 bn by the end of 2024. The market is anticipated to exhibit a healthy 5.10% CAGR between 2016 and 2024.
Increasing Demand for Convenient Packaging to Propel Asia Pacific Market
From a geographical viewpoint, in 2016, Asia Pacific led the global antimicrobial packaging market and is predicted to remain in the position in the next few years. As per the report, this region held a key share of the global market, thanks to the tremendously populated urban areas demanding plastic packaging. The rising disposable income of consumers and their hectic lifestyles are some of the key factors that are estimated to encourage the growth of the Asia Pacific market in the coming years. In addition, the rising demand for convenient packaging is estimated to accelerate the growth of the Asia Pacific market in the near future. Furthermore, North America and Europe are projected to register healthy growth in the coming years.
On the basis of material, the global market for antimicrobial packaging has been categorized into plastic, tin, glass, biopolymer, paperboard, and others. As per the study, the plastic segment is anticipated to witness substantial growth across the forecast period. The chemical, physical, and mechanical qualities and the low cost in comparison with other materials are the major aspects, which is likely to fuel the growth of this segment in the next few years. However, due to the rising concerns related to its disposable, the biopolymers segment is likely to register a progressive growth in the next few years.
Enhancement of Distribution Network of Food Products to Encourage Growth
The antimicrobial packaging is majorly used to in the food and beverages sector in order to reduce the rising incidences of waterborne and foodborne diseases. The packaging also offers the consumers to reduce the wastage of food to a certain extent. These factors are anticipated to encourage the growth of the global antimicrobial packaging market throughout the forecast period. In addition, the extension of shelf life provided of several consumables by the use of antimicrobial packaging is another major factor anticipated to accelerate the growth of the overall market in the near future.
On the other hand, the stringent government rules and regulation regarding the use of antimicrobial agents used in packaging and other food products are predicted to restrict the growth of the global antimicrobial packaging market in the next few years. Nevertheless, the global market for antimicrobial packaging market is projected to witness a substantial growth due to the rising demand for convenient foods and beverages across the globe. Moreover, the enhancement of the distribution sector is likely to offer promising growth opportunities for players operating in the global antimicrobial packaging market in the coming years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Antimicrobial Packaging Market (Materials - Plastic (PE, PET, PVC, LDPE, HDPE), Biopolymer, Paperboard, Glass, and Tin; Technologies - Controlled Release Packaging and Active Packaging; Antimicrobial Agents - Organic Acid, Bacteriocins, Essential Oils, Enzymes, and Metal Ions and Oxidizers; Packages - Pouches, Bottles & Cans, Carton Packages, Trays, Bags, and Cups and Lids; Applications - Food and Beverage, Personal Care, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
The global antimicrobial packaging market has been segmented as below:
Global Antimicrobial Packaging Market, by Material
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Low-Density Polyethylene (LDPE)
- High-Density Polyethylene (HDPE)
Global Antimicrobial Packaging Market, by Technology
- Controlled Release Packaging
- Active Packaging
Global Antimicrobial Packaging Market, by Antimicrobial Agents
- Organic Acid
- Essential Oils
- Metal Ion & Oxidizers
Global Antimicrobial Packaging Market, by Package Type
- Bottles & Cans
- Carton Packages
- Cups & Lids
Global Antimicrobial Packaging Market, by Application
- Food & Beverage
- Personal Care
Global Antimicrobial Packaging Market, by Geography
- Rest of North America
- Rest of Europe
- Rest of APAC
Middle East and Africa
- South Africa
- Rest of Middle East & Africa
- Rest of Latin America
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