According to Goldstein Research, “Rising awareness regarding consumer health and longer shelf life is increasing the food and beverage manufacturer's interest towards antimicrobial packaging solutions.” Antimicrobial Packaging solutions are majorly used for packaging of food and beverages products to prevent the growth of microorganisms and ensure the safety of food products. Growing demand for packaged food products among consumers of developing regions are expected to support the market growth of antimicrobial packaging during the forecast period i.e. 2016-2024.
The global antimicrobial packaging market is segmented based on packaging material, by antimicrobial agents, by packaging type and by end users. Packaging material is further bifurcated into biodegradable and non-biodegradable packaging materials. Among, packaging materials plastic is the major dominating material in the packaging industry. Low cost, high density and good mechanical strength of plastic, is the major reason for its large scale adoption by the packaging industry. Plastic has more than 55% of share in global packaging industry. Food and beverages industry provides largest market for the antimicrobial packaging industry.
Global antimicrobial packaging market accounted for USD 12.4 billion in 2016 and projected to expand at a CAGR of 5.7% over the forecast period i.e. 2016-2024. Further, the market is anticipated to reach USD 19.4 billion by the end of 2024 owing to growing demand in developing countries such as India, China and Brazil among others.
Asia-pacific is the largest market for global packaging industry which has significant market shares for antimicrobial packaging. Asia-Pacific accounted for more than 22% market share in global antimicrobial packaging market in 2016, it is expected that Asia Pacific antimicrobial packaging market will get double in size, from 2.8 billion today to 5.6 billion by 2024. Growing middle class family will significantly boost the demand for antimicrobial packaging material owing to rising demand for food & beverages products. Asia will host 64 percent of the global middle class and account for more than 40 percent of global middle-class consumption.
Innovative and Smart Packaging is Gaining Consumer’s Interest
Antimicrobial packaging increases the shelf life of food and beverages whereas attractive packaging increases the visibility and gain consumer’s interest into the product. Top manufacturers of antimicrobial packaging are spending in the innovative packaging of the products. For instance, LINPAC packaging has developed a wide range of smart and antimicrobial packaging solutions to combat food bacteria and help consumers and retailers reduce the amount of waste food they generate. The antimicrobial packaging solution from LINPAC reduces the risk of contamination from pathogens such as E Coli, Salmonella and Listeria- the most common cause of food poisoning. Similarly, European Union has awarded the International NanoPak conglomerate USD 8.0 million to develop packaging solution for extending food shelf life by using novel antimicrobial surfaces. These innovative antimicrobial packaging solutions is likely to gain traction and is expected to expand the antimicrobial packaging business globally.
“Global Antimicrobial Packaging Market Outlook 2024” contains detailed overview of the global antimicrobial packaging market in terms of market segmentation by packaging material type, by antimicrobial agent type, by packaging type and by end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Antimicrobial Packaging Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as Mondi LLC, BASF SE, Dunmore Corporation, PolyOne, BioCote Limited, Olpon Pure Sciences Ltd., Microban Internationals etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global antimicrobial packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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