A recent report published by
Infinium Global Research on antimicrobial food packaging additives market
provides in-depth analysis of segments and sub-segments in the global as well
as regional antimicrobial food packaging additives market. The study also
highlights the impact of drivers, restraints, and macro indicators on the global
and regional antimicrobial food packaging additives market over the short term
as well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of the global antimicrobial food packaging additives
market. According to the report, the global antimicrobial food packaging
additives market is projected to grow at a CAGR of about 8% over the forecast
period of 2022-2028.
The revenue generated by the
market was over USD 2 billion in 2022 and is expected to reach about 4 billion
in 2028. Antimicrobials are any substance or materials infused with
antimicrobial agents and additives to prevent the growth of infection and
fever-causing microorganisms such as bacteria, fungi, algae, yeasts, mildew,
and other parasites. The growth of microorganisms on untreated particles causes
discoloration, unpleasant odors, and polymer degradation issues. The use of
antimicrobial additives inhibits the growth of these microorganisms in the end
products. Antimicrobial additives offer enhanced properties such as high
dimensional stability, heat & chemical resistance, and chemical stability.
The demand for non-toxic plastics with enhanced features such as high
antimicrobial activity, hardness, durability, and transparency, is increasing.
So the increasing demand for new and innovative products leads to technological
and product innovation.
COVID-19 was an incomparable
global public health emergency that has affected almost every industry and is
projected to impact these various industry growths during the forecast period.
During the Covid-19, pandemic people were compelled to stay in their homes. The
governments of many countries in the world turned their focus to healthcare
from other industries. This significantly disrupted their supply chain
operations and manufacturing as lockdowns were imposed by the respective
governments. Manufacturing facilities were all shut down due to the pandemic in
almost every country across the globe. Due to the pandemic, several industries
including antimicrobial food packaging additives were adversely negatively
affected. Logistical restrictions,
manpower shortage, material unavailability, and other restrictions had reduced
the growth of the industry. The pandemic has affected the normal production of
companies. The COVID-19 pandemic has created instability in the antimicrobial
food packaging additives market across the globe. However, the market is now
estimated to have reached pre-pandemic levels and is expected to grow steadily
during the forecast period.
The report identified that the
global antimicrobial food packaging additives market is driven by factors such
as massive growth in the packaged food industry and beverages industry as well
as commercial application of antimicrobial additives in the food packaging
industry. On the other hand, the restraining factor identified in the study
includes fluctuating prices of raw materials that likely limit the market
growth. Increasing demand for packaging technologies that increase the shelf
life of food products coupled with technological reforms in the packaging
industry provides growth opportunities to leading players in this market. Lack
of awareness about antimicrobial additives is likely to create more challenges,
as health-conscious consumers are expected to misinterpret antimicrobial
additives as food additives are harmful to human health.
The report provides a regional
outlook covering geographies such as North America, Europe, Asia-Pacific, and
the Rest of the World. Asia-Pacific holds command over the global
antimicrobial food packaging additives market and is expected to dominate the
overall market during the forecast period. APAC is an emerging market for
antimicrobial additives market, and it is mainly attributed to the high
economic growth rate, followed by heavy investment in the healthcare,
packaging, and automotive industries. With economic constraints and saturation
in the European and North American markets, demand is shifting to the
Asia-Pacific region. Growing demand and policies like emission control and the
use of environmentally friendly products have led to innovation in the plastics
industry of the region, making it a plastic hub, globally.
The report on the global antimicrobial
food packaging additives market covers segments such as type, and application.
On the basis of type, the sub-markets include organic acids, fungicides,
parabens, essential oils, and others. On the basis of application, the
sub-markets include baby food, fresh food, bakery and confectionery, snacks, and
others.
The report provides profiles of
the companies in the market such as DuPont De Nemours, Microban International,
Sanitized AG, LyondellBasell, Avient Corporation, Biocote , Milliken
Chemical, BASF SE, AkzoNobel, and Others.
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the antimicrobial food packaging additives market. Moreover, the study
highlights current market trends and provides forecast from 2022-2028. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
Please Choose One of them.