Dublin, May 08, 2023 (GLOBE NEWSWIRE) -- The "Antimicrobial Packaging Market By Material Type, By Technology, By Packaging Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global antimicrobial packaging market was valued at $10,255.4 million in 2021, and is projected to reach $17,916.1 million by 2031, registering a CAGR of 5.6% from 2022 to 2031.
Key Market Players
- Takex labo Co.,Ltd
- BASF SE
- Microban International
- Dow
- DUNMORE
- Klckner Pentaplast Group
- Avient Corporation
- BioCote Limited
- Mondi plc
- Sciessent LLC
Active release and controlled release biopolymers are used in antimicrobial coatings that are added to packaging materials. Antimicrobial packaging is a type of specially created packaging that works to prevent the growth of bacteria and other pathogens. It increases the product's shelf life by suppressing pathogenic development.
Increased disposable income of people around the world drives the demand for packaged food, which, in turn increases the demand for antimicrobial packaging in the market. In addition, packaged food has always posed a serious health risk, which has resulted in setting numerous laws by various governments.
The food processing industry makes significant investments in the creation of healthier packaging techniques to comply with these legal criteria. As a result, there is a rise in need for antimicrobial packaging. In addition, the market expansion in developing nations with economies like China, India, South Africa, and others is being driven by the expanding pharmaceutical and healthcare sectors. The two key factors driving the worldwide clinical trial of antimicrobial packaging market are R&D and improvements in drug formulation.
For example, in March 2022, BERRY GLOBAL, an innovative packaging company, and PYLOTE, a supplier of industrial mineral chemicals, announced a strategic partnership for innovative antimicrobial packaging solutions and launched a multi-dose eye drop with antibacterial properties. All these instances are expected to accelerate the growth rate of the antibacterial packaging market.
The markets expansion is, however, being constrained by the variation in the price of raw materials used to make antimicrobial packaging. The complexity and expense of the method have an impact on manufacturer profitability, especially for small and medium-sized businesses (SME). Market participants are turning to product post-consumption recycling due to strict environmental laws. Market participants are experimenting with creative approaches to find solutions, like adopting truly biodegradable substitutes like biopolymers.
On the other hand, technical innovations in antimicrobial packaging items such improvements in biopolymers and biodegradable packaging materials are anticipated to increase the packaging's microbial resistance. For the e-commerce industry, for instance, DS Smith and Touchguard have teamed up to offer a variety of cardboard packaging with antibacterial qualities in December 2020. Customers will be shielded from dangerous microorganisms. During the forecast period, this is predicted to produce profitable prospects for the expansion of the antimicrobial packaging market.
Market Dynamics
Drivers
- Growing consumer awareness of issues relating to their health.
- Rise in R&D and advances in healthcare and pharmaceutical industries
Restraints
- Stringent environmental regulations and high raw material prices.
Opportunities
- Rise in innovations in antimicrobial packaging
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the antimicrobial packaging market analysis from 2021 to 2031 to identify the prevailing antimicrobial packaging market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the antimicrobial packaging market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global antimicrobial packaging market trends, key players, market segments, application areas, and market growth Strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 210 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $10255.4 million |
| Forecasted Market Value (USD) by 2031 | $17916.1 million |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Key Market Segments
By Material Type
- Paperboard
- Plastic
- Biopolymers
By Technology
- Active Release
- Controlled Release
By Packaging Type
- Cartons
- Bags
- Pouches
For more information about this report visit https://www.researchandmarkets.com/r/6yw57a
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