What Factors Impacting Antimicrobial Packaging Market Growth?
The global antimicrobial packaging market will grow at a healthy CAGR between 2020- 2027, as per the latest Market Research Future (MRFR) analysis. Antimicrobial packaging is the packaging system which adds active ingredients, utilizes actively functional polymers in the packaging system to be able to inhibit pathogenic microorganisms and spoilage involved in contaminating the food products. This is a promising technology which effectively saturates the antimicrobial into the food packaging film material and subsequently distributes it over the stipulated duration for killing the pathogenic microorganisms impacting food products, thus maximizing the shelf life to severe folds.
Various factors are fuelling the global antimicrobial packaging market share. As per the current Market Research Future market estimates, such factors include the growing awareness about consumer health & longer shelf life of products, growth in population, increasing disposable income, large consumption of packaged food products owing to instant preparatory methods, rising consumer demand for products that are minimally processed, preservative-free, and perishable, the need to increase the products shelf life, growing concerns towards food wastage, and surging consumer awareness about health-related issues. The additional factors adding market growth include rising consumption of products that have shorter shelf life like meat products, growing need by different end user industries like agricultural products, consumer goods, personal care, healthcare, and food and beverage, rapid urbanization, demand for better quality products, rise in foodborne and infectious disease, increasing use during the COVID-19 pandemic, and rise in cognizance about health related issues owing to food spoilage.
On the contrary, fluctuations in raw material costs, strict compliance to regulations, need for constant R&D and technological advances, and variations in laboratory viability results and actual/practical food conditions may limit the global antimicrobial packaging market growth over the forecast period.
The Market Research Future report throws light on an inclusive segmental analysis of the global antimicrobial packaging market based on material, type, and application.
By material, the global antimicrobial packaging market is segmented into paper and paperboard, plastic, and others. Of these, the plastic segment will lead the market over the forecast period.
By type, the global antimicrobial packaging market is segmented into carton packages, pouches, bags, and others. Of these, pouches will dominate the market over the forecast period.
By application, the global antimicrobial packaging market is segmented into personal care, healthcare, food and beverage, and others. Among these, food and beverage segment will spearhead the market over the forecast period.
By region, the global antimicrobial packaging market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), and Rest of the World (RoW). Among these, the APAC region will have the lions share in the market over the forecast period. Growing need for healthy products to cater to the increasing population, increasingly hectic lifestyle of the working class, consumers demand towards packaged and convenience foods and beverages, growing need for food among adults and youths, increasing prevalence of diseases, and the presence of emerging nations like China and India are adding to the global antimicrobial packaging market growth in the region.
In Europe, the global antimicrobial packaging market is predicted to hold the second-largest share over the forecast period. The use of recycled material and the emergence of eco-friendly packaging technologies are adding to the global antimicrobial packaging market growth in the region.
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In North America, the global antimicrobial packaging market is predicted to have favorable growth over the forecast period for the increasing consumption of antimicrobial packaging.
In RoW, the global antimicrobial packaging market is predicted to have stable growth over the forecast period.
The notable players profiled in the global antimicrobial packaging market report include Takex Labo Co. Ltd, Oplon Pure Sciences Ltd, Microban International, Linpac Senior Holdings, Dunmore Corporation, Biocote Limited, PolyOne Corporation, Mondi Plc, The Dow Chemical Company and BASF SE., among others. Partnerships, new product launches, mergers and acquisitions, among others are the key strategies incorporated by key players to stay ahead.
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