Pune, India, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The global antimicrobial packaging market size was valued at USD 10.55 billion in 2021. The market is anticipated to expand from USD 11.08 billion in 2022 to USD 17.25 billion by 2029, exhibiting a CAGR of 6.52% over the forecast period. The rise can be credited to the surging demand for fine-quality products on account of growing concerns regarding preservation, quality care, and safety in the hygiene, pharmaceutical, and food industries.
This information is provided by Fortune Business Insights™ in its research report, titled “Antimicrobial Packaging Market Size, Share, Growth, and forecast 2022-2029”.
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Competitive Landscape:
Leading Companies Strike Collaborative Deals to Expand Product Reach
Major antimicrobial packaging companies are focused on entering into partnership deals and agreements to expand their geographical footprint. Some of the other initiatives adopted for increasing product penetration include mergers, acquisitions, the formation of alliances, and research activities.
List of Key Players Mentioned in the Report:
- Biocote Limited (U.K.)
- Dunmore Corporation (U.S.)
- Microban International (U.S.)
- Klöckner Pentaplast Europe GmbH & Co. KG (Argentina)
- BASF SE(Germany)
- The Dow Chemical Company (U.S.)
- Mondi Plc (South Africa)
- PolyOne Corporation(U.S.)
- Olpon Pure Sciences Ltd (Israel)
- Takex Labo Co. Ltd (Japan)
- Foodtouch (U.S.)
- Biomaster (Sweden)
Regional Insights:
North Americas to Emerge as Leading Region Owing to Rising Demand from Growing Economies
The North American antimicrobial packaging market share is dominant and is characterized by strong growth in antimicrobial packaging technology. In addition, high awareness of local people is expected to keep the market moving. North America is poised to register commendable growth over the estimated period. The surge can be attributed to the rising demand for therapeutic devices and pharmaceuticals.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 6.52 % |
| 2029 Value Projection | USD 17.25 Billion |
| Base Year | 2018 |
| Antimicrobial Packaging Market Size in 2022 | USD 11.08 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 220 |
| Segments Covered | By Type, End-user and Regional Insights |
| Antimicrobial Packaging Industry Growth Drivers | Plastic Segment to Gain Prominence Driven by Ease of Manufacturing & Flexibility |
| Food & Beverages Segment to Register Considerable Growth Due to Increasing Demand for Packaged Food |
Segments:
Plastic Segment to Gain Traction Driven by Flexibility and Ease of Manufacturing
On the basis of material, the market is segregated into plastic, biopolymers, paperboard, and others. The plastic segment is set to record commendable expansion over the forecast period. The surge is being driven by various properties of plastics such as flexibility, ease of manufacturing, and moisture resistance.
Organic Acids to Register Notable Demand Driven by the Benefit of Extended Shelf Life
Based on antimicrobial agent type, the market is subdivided into organic acids, bacteriocins enzymes, and plant extracts. The organic acids segment is slated to depict substantial growth throughout the estimated period. The rise can be attributed to increasing product usage as preservatives in food applications.
Pouches Segment to Exhibit Lucrative Growth Impelled by Soaring Demand from Numerous Sectors
On the basis of packaging type, the market is fragmented into trays, pouches, bags cartons, films, and cups & lids. The pouches segment is poised to exhibit appreciable growth throughout the projected period. The upsurge is on account of surging product demand from various industries. These include agriculture, personal care, food, and healthcare.
Food & Beverages Segment to Register Considerable Growth Due to Increasing Demand for Packaged Food
Based on end-user, the market is categorized into food & beverages, healthcare, personal care & cosmetics, and consumer electronics. The food & beverages segment is set to register an appreciable surge over the forecast period. The growth is being impelled by various benefits such as low cost and ease of use.
On the basis of geography, the market has been studied across five regions, including Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Report Coverage:
The report gives a comprehensive analysis of the major trends that are slated to propel the business landscape across various regions. It further delves into significant factors impelling industry expansion over the estimated period. Other aspects include the key steps taken by pivotal market players to expand their geographical footprint.
Drivers and Restraints:
Market Share to Rise on Account of Soaring Health Awareness Among Consumers
One of the major factors propelling the antimicrobial packaging market growth is the rising health awareness among consumers and the increasing demand for high-quality packaging. Recent years have also recorded an escalating demand for pharmaceutical products owing to changes in consumer lifestyles.
However, the market expansion is likely to be hampered on account of the fluctuating prices of raw material and lack of storage at appropriate temperatures.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/antimicrobial-packaging-market-102726
Key Industry Development:
February 2020 – Mondi collaborated with Carter. The deal would help the company in delivering sustainable packaging solutions for fresh produce.
COVID-19 Impact:
Development of New Solutions Propelled by Soaring Inclination Toward Ensuring Supply Continuity
The coronavirus pandemic created several challenges for industry players during the initial days of lockdown. These included disruptions in supply chain and labor shortages. However, operations in this industry did not stop during the lockdown period. The demand for antimicrobial packaging increased on account of concerns associated with consumer health.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Antimicrobial Packaging Market
- Global Antimicrobial Packaging Industry Analysis (Million Tons, USD Billion), Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Paperboard
- Plastic
- Biopolymers
- Others
- Market Analysis, Insights, and Forecast – By Antimicrobial Agent Type
- Plant Extracts
- Organic Acids
- Bacteriocins Enzymes
- Market Analysis, Insights and Forecast – By Packaging Type
- Bags
- Pouches
- Trays
- Cartons
- Cups & Lids
- Films
- Market Analysis, Insights, and Forecast – By End-users
- Food & Beverages
- Personal Care & Cosmetics
- Consumer Electronics
- Healthcare
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Toc Continued…
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