Press Release / Antimicrobial Packaging Market
Antimicrobial Packaging Market to Reach USD 17.25 Billion by 2029; COEXPAN Rolls Out COEXSHIELD to Secure Competitive Edge
January 31, 2023 | PackagingThe global antimicrobial packaging market size stood at USD 10.55 billion in 2021. The market value is slated to rise from USD 11.08 billion in 2022 to USD 17.25 billion by 2029 at a CAGR of 6.52% during 2022-2029. The surge is being driven by the rising product demand owing to soaring concerns regarding quality care and preservation.
Fortune Business Insights™ presents this information in its report titled “Antimicrobial Packaging Market Size, Share & COVID-19 Impact Analysis, By Material (Paperboard, Plastic, Biopolymers, Others), By Antimicrobial Agent Type (Plant Extracts, Organic Acids, Bacteriocins Enzymes), By Packaging Type (Bags, Pouches, Trays, Cartons, Cups & Lids, Films), By End-user (Food & Beverages, Personal Care & Cosmetics, Consumer Electronics, Healthcare), and Regional Forecasts, 2022-2029”.
Industry Value Temporarily Affected Due to Challenges Such as Labor Shortages Amid COVID-19 Pandemic
The COVID-19 crisis led to numerous challenges such as labor shortages and supply chain disruptions. These challenges, however, did not impact the operations in the industry. The antimicrobial packaging demand escalated owing to consumer-health concerns. The pandemic period also led market participants to ensure supply continuity for packaging essential items such as pharma and food.
Microban International Presents at Compounding World Expo 2020 to Strengthen Market Position
In March 2020, Microban International shared plans to give a presentation at Compounding World Expo 2020. The company decided to present its built-in antimicrobial solutions. As claimed by the company, the solutions would help maintain the aesthetic properties of a particular product by preventing the growth of mold and bacteria.
Surging Demand from Pharmaceutical & Healthcare Sectors to Propel Business Expansion
The antimicrobial packaging market growth is being driven by the enforcement of favorable government policies across several regions. This is on account of various objectives such as the reduction of counterfeit drugs and maintenance of hygiene. Additional factors impelling industry demand comprise growing healthcare and pharmaceutical industries in developing countries such as South Africa, China, India, and others.
However, the market expansion could be restrained by the volatility and high cost of raw materials. Other aspects hindering industry growth comprise escalated focus on the maintenance of hygiene and lack of storage facilities.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/antimicrobial-packaging-market-102726
Major Industry Participants Enter into Partnership Agreements to Strengthen Market Position
Prominent antimicrobial packaging players enter into collaborative deals for consolidating their position in the market. Besides, many companies are adopting a series of initiatives such as the formation of alliances, acquisitions, development of new products, and mergers to sustain market competition. Some of the other steps include rising participation in trade conferences.
Key Players Provided in the Report
- Biocote Limited (U.K.)
- Dunmore Corporation (U.S.)
- Microban International (U.S.)
- Klöckner Pentaplast Europe GmbH & Co. KG (Argentina)
- BASF SE(Germany)
- The Dow Chemical Company (U.S.)
- Mondi Plc (South Africa)
- PolyOne Corporation(U.S.)
- Olpon Pure Sciences Ltd (Israel)
- Takex Labo Co. Ltd (Japan)
- Foodtouch (U.S.)
- Biomaster (Sweden)
Notable Industry Development
- November 2021 – COEXPAN launched numerous food packaging solutions, including COEXSHIELD, the mono-material antimicrobial tray. The antibacterial properties combine smart and active features to enhance shelf life and avoid food waste.
Further Report Findings
- The North America antimicrobial packaging market share is touted to depict considerable growth throughout the forecast period. This is driven by the escalating food demand in countries such as the U.S. and Canada.
- The North America market is set to record lucrative growth owing to the growing demand for pharmaceuticals and therapeutic devices.
- Considering material, the market is fragmented into plastic, paperboard, biopolymers, and others. Of these, the plastic segment is poised to exhibit substantial demand over the projected period. This is on account of numerous properties of plastics such as the ease of manufacturing and flexibility.
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2018-2029 |
Base Year | 2021 |
Estimated Year | 2022 |
Forecast Period | 2022-2029 |
Historical Period | 2018-2020 |
Unit | Value (USD Billion) and Volume (Million Tons) |
Segmentation | By Material, Antimicrobial Agent Type, Packaging Type, End-user, and Region |
Segmentation | By Material
|
By Antimicrobial Agent Type
| |
By Packaging Type
| |
By End-user
| |
By Region
|
- 2023
- 2019-2022
- 220
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