Colloidal silver is a preparation that mixes silver particles into a colloidal base. Silver is used mainly for the antimicrobial properties it exhibits. It kills bacteria, viruses and fungi alike and is useful as an antimicrobial dressing and as additive to foods and beverages before they are packaged. Also, personal care products that are applied to the skin make use of silver as it gives added protection against microbes.
It is pertinent to note here that as the world is moving towards traditional, organic medicines, demand for colloidal silver will grow. Additionally, chemical pharmaceuticals are losing demand by an increasing number of people for their side effects on the individual as well as the environment. As per Transparency Market Research, this will lead the global colloidal silver market on a steady growth trajectory over the forecast period of 2020 to 2030. This will not only add to the valuation of global colloidal silver market but also to existing opportunities, creating new avenues of growth. Players are expected to capitalize upon these over the stated forecast period.
The colloidal silver market is slightly consolidated owing to the presence of a limited number of players. Some of the major players in this market are-
These market players are expected to increase market outreach and production to cash-in on the increased demand for colloidal silver. They are expected to acquire smaller production facilities and to collaborate with local producers to achieve this goal.
The Asia Pacific region (APAC) is expected to register the maximum growth in this market owing to a rising awareness about traditional medicines. Indian medicine has used silver impregnation since ages, and this trend is coming back. Moreover, as the food packaging industry gains a strong foothold in this region, this is set to give further impetus to the colloidal silver market.
North America should show steady growth in the future owing to high expenditure by people on personal care in this region. Europe has recently restricted the usage of colloidal silver in food products, and hence is expected to witness reduction in demand for this product.