Antimicrobial Packaging Market to Reach US$15.31 Billion by 2024 - TMR

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Oct 09, 2018, 08:00 ET

ALBANY, New York, October 9, 2018 /PRNewswire/ --

The global antimicrobial packaging market is fragmented owing to the presence of numerous global and regional players of different sizes. This also makes the market highly competitive. In order to strengthen their position in such an overcrowded space, players are seen banking upon different strategies. For example, most of them are looking towards the relatively lesser tapped Asia Pacific market which offers high opportunity for growth owing to the rapid economic development.

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In such a cutthroat global antimicrobial packaging market, companies that have come to hold a substantial share are BASF SE, The Dow Chemical Company, Takex Labo Co. Ltd., and Sciessent LLC.

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A report by Transparency Market Research on the global antimicrobial packaging market finds that it would rise at a steady CAGR of 5.1% over the course of the forecast period starting from 2016 and ending in 2024. Rising at this pace, the market which was pegged to be at US$10.28 bn in 2016, will likely hit a valuation of US$15.31 bn by 2024-end, finds the TMR report.

Depending upon materials, the global antimicrobial packaging market has been segmented into biopolymers, plastics, tin, and paperboards. There are also a few minority materials. However, it is the plastics that have become the most sought after materials in the market. This is mainly due to their superior physical, mechanical, and chemical features that not just make them flexible but also durable and resistant to wear and tear. From a geographical perspective, the global antimicrobial packaging market is being led by Asia Pacific. In 2015, the region accounted for 33.3% share. Going forward, the region is predicted to lead on the back of the surging demand for convenience food wherein antimicrobial packaging is required.

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Food and Beverage Industry Majorly Fuelling Demand in Global Antimicrobial Packaging Market

Majorly fuelling the global antimicrobial packaging market is the flourishing food and beverage industry. They are used both for packaging of convenience food and beverage and also perishable products. Elaborates the lead analyst of the TMR report, "The growing demand for products that are preservative-free, perishable, and minimally processed is majorly influencing the demand in the global antimicrobial packaging market. Besides, rising clamor for safe and quality products has also increased the uptake of antimicrobial packaging. Antimicrobial packaging disburses active agents into food products that thwart proliferation of microorganisms to up the shelf life. Thus they help to maintain food quality and lessen usage of additives and preservatives."

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Healthcare Industry another Major Demand Driver in Market

Apart from the food and beverage industry, the healthcare industry is also serving to drive demand in the global antimicrobial packaging market. The antimicrobial active packaging is used specifically to protect plastic products, medical equipment against bacterial and fungal growth, and tablets and medical equipment.

A noticeable trend in the global antimicrobial packaging market is the thrust on antimicrobial agents extracted from natural sources and not synthetic sources. This, while hampering the current growth pace of the market has also opened up new opportunities for future growth of players.

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The review is based on the findings of a TMR report, 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 report segments the Global Antimicrobial Packaging Market into the following:

Global Antimicrobial Packaging Market, by Material

Plastic
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Low-Density Polyethylene (LDPE)
- High-Density Polyethylene (HDPE)
Biopolymer
Paperboard
Glass
Tin
Others

Global Antimicrobial Packaging Market, by Technology

Controlled Release Packaging
Active Packaging

Global Antimicrobial Packaging Market, by Antimicrobial Agents

Organic Acid
Bacteriocins
Essential Oils
Enzymes
Metal Ion & Oxidizers
Others

Global Antimicrobial Packaging Market, by Package Type

Pouches
Bottles & Cans
Carton Packages
Trays
Bags
Cups & Lids
Others

Global Antimicrobial Packaging Market, by Application

Food & Beverage
Personal Care
Healthcare
Others

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