ALBANY, New York, Feb. 8, 2019
ALBANY, New York, Feb. 8, 2019 /PRNewswire/ -- Transparency Market Research (TMR) notes that the global antimicrobial packaging market is categorized by the presence of several large and small players operating. The rivalry between the players is likely to increase as they aim at offering safe and hygienic packaging for customer desired products.
Among the multiple strategies adopted by players in the global antimicrobial packaging market to stay ahead of competitors, products innovation has paid off the most. The global antimicrobial packaging market is expected to grow steadily due to the existence of large players who are investing in research and development for producing hygienic packaging materials for conserving food. Some of the leading players in the global antimicrobial packaging market are BASF SE, Dow Chemical Company, Takex Labo Co., and Sciessent LLC.
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The TMR report projects the global antimicrobial packaging market to register a promising CAGR of 5.1% from 2016 to 2024. By the end of 2024, the market will be worth US$15.31 Bn, predicts the report.
Out of various materials for antimicrobial packaging, the demand for plastic from various industries is expected to remain high in the next few years as they are effortlessly pliant and provides adequate levels of security and flexibility. Region-wise, Asia Pacific is expected to lead the global antimicrobial packaging market in the coming years. This is attributed to the flourishing retail division and rapid establishment of various industries in the region.
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Rising Confectionery and Bakery Industry Stoke Demand in Antimicrobial Packaging Market
Antimicrobial packaging helps in releasing active agents present in the food products. This packaging further helps in inhibiting the growth of the microorganisms and thus, enhances the shelf-life of the product. Antimicrobial packaging maintains the food quality for a longer period of time and also helps in reducing the need for additives and preservatives in the food. Growing bakery and confectionery industry, increasing foodborne and waterborne diseases, and rising awareness of food shortage are the factors driving the global antimicrobial packaging market.
Furthermore, several materials are used in antimicrobial packaging such as tin, paperboards, biopolymers, and plastics. Along with materials, various antimicrobial agents are also used in this packaging such as bacteriocins, essential oils, metal ion and oxidizers, organic acids, and enzymes. Apart from all theses, rapidly expanding food and beverages industry, rising demand for life expectancy of food products from food producers, and increasing demand from healthcare industry for protecting medical equipment and tablets against bacteria are also boosting the global antimicrobial packaging market. Along with these, rising FDA approvals for expanding antimicrobial packaging in order to protect food products and wrapping is also fueling the global antimicrobial packaging market.
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Synthetic Antimicrobial Agents Hinder Global Antimicrobial Packaging Market
A few challenges hindering the growth of the global antimicrobial packaging market are high cost of packaging, and growing usage of synthetic pathogenic antimicrobial agents in packaging instead of natural sources. Nonetheless, the persistent demand from food and beverages industry is expected to help overcome these challenges in the near future.
The information presented in this review is based on 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".
Browse Research Release at https://www.transparencymarketresearch.com/pressrelease/antimicrobial-packaging-market.htm
Global Antimicrobial Packaging has been segmented based on:
Global Antimicrobial Packaging Market, by Material
Global Antimicrobial Packaging Market, by Technology
Global Antimicrobial Packaging Market, by Antimicrobial Agents
Global Antimicrobial Packaging Market, by Package Type
Global Antimicrobial Packaging Market, by Application
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