JERSEY CITY, New Jersey, June 4, 2020
The rise in the number of infectious and foodborne diseases & the rise in cognizance about the notion of the health-related problems due to food wastage and food spoilage is enhancing market growth.
JERSEY CITY, New Jersey, June 4, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Antimicrobial Packaging Market By Material (Paper & Paperboard, Plastics, Biopolymer), By Packaging Type (Pouches, Bags, Trays, Cups & Lids, Carton Packages), By Antimicrobial Agents (Enzymes, Essential Oils, Bacteriocins, Metal Ions & Oxidizers), by Technology (Controlled Release Packaging, Active Packaging), by End Use (Personal Care, Healthcare, Food and Beverages, )". According to the report, Global Antimicrobial Packaging Market was valued at USD 8.71 Billion in 2019 and is projected to reach USD 13.28 Billion by 2027, growing at a CAGR of 5.4% from 2020 to 2027.
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Global Antimicrobial Packaging Market Overview
The rise in the number of infectious and foodborne diseases is the foremost factor in driving the market growth. The World Health Organization states that every year, the food not made hygienically and adequately results in 600 million cases of foodborne diseases and 420,000 deaths. 30% of children aged five years or below tend to die at an early age due to food poisoning and foodborne infections.
The increased consciousness about food wastage is the crucial aspect of driving the market growth. Food waste refers to a decline in the quantitative or qualitative analysis of food due to the decisions and actions by retailers, food service providers, and consumers.
The UN Food and Agricultural Organization states that, in the 30% of global production, around 1.3 billion tonnes of food is wasted annually. The Food and Agricultural Organization of the United Nations is partnered with government and international regulatory bodies to indorse awareness on the issues and to develop strategies to Reduce Food Loss and Waste. The rise in cognizance about the notion of the health-related problems due to food wastage and food spoilage is enhancing market growth. For instance, in Sub Sharan Africa, 150kg/year per capita of food is wasted between the development of production and the process of retailing due to the inefficiency of food production technology. This leads to escalated numbers of malnutrition in children under the age of five. The increased consciousness on the consumption of food items having a shorter shelf life is anticipated to drive the surge in the market. The perishable food products have an integrally shorter shelf life than solid shelf-stable foods. The low water retention activity of a product such as rice makes it quite safe for consumption. The addition of antioxidants can extend the shelf life of the product. The goal of conventional food packaging is to extend shelf life, maintaining quality, and enables assurance of the food product.
The restraints and challenges faced, which will hinder the market growth are the high costs incurred in raw materials used to make antimicrobial packaging material. The disparities observed while testing the material practicality and food quality. A significant hindrance to commercializing the technology is the antimicrobial compounds exposed to the high processing temperature while used in the production of packaging polymers. The major players in the market are BASF SE (Germany), The Dow Chemical Company (U.S.), Mondi Plc (South Africa), PolyOne Corporation (U.S.), Biocote Limited (U.K.), Dunmore Corporation (U.S.), Linpac Senior Holdings (U.K.), Microban International (U.S.), Oplon Pure Sciences Ltd. (Israel), and Takex Labo Co. Ltd.
Verified Market Research has segmented the Global Antimicrobial Packaging Market is segmented on the basis of Material, Packaging Type, Antimicrobial Agents, Technology, End Use and Geography.
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