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The global antimicrobial packaging market size is predicted to reach USD 17.55 billion by 2026. The growing emphasis on contamination prevention by major industries such as pharmaceutical, food and beverage and cosmetics will promote the healthy growth of this market share during the forecast period, states Fortune Business Insights, in a report, titled “Antimicrobial Packaging Market Size, Share & Industry Analysis, By Material (Plastics, Biopolymers, Paper & Paperboard, and Others), By Antimicrobial Agents (Organic Acid, Bacteriocins, and Others), By Type (Bags, Pouches, Trays, and Others), By Application (Food & Beverages, Healthcare & Pharmaceutical, Personal Care, and Others) and Regional Forecast, 2019-2026” the market size stood at USD 9.57 billion in 2018 and is predicted to exhibit a CAGR of 7.9% between 2019 to 2026.
Launch of New Packaging Solution by Aptar to Support Growth
Aptar CSP Technologies, a high-quality product protection solutions and consumer packing company announced the launch of a “first-of-its-kind” active packaging product. The pioneering technology employs company’s patented 3-phase Activ-Polymer platform within its Activ-Film product configuration. The introduction of the new packaging solution by Apstar can be a crucial factor in boosting the market revenue owing to its build to provide moisture adsorption and drug product stability.
Moreover, the combination ability of oxygen scavenging and moisture adsorption in its Activ-Film product will offer a fully integrated solution for drug products that are sensitive to both moisture and oxidation. Therefore, providing supreme double protection in various packaging configurations and applications involving oral solid dose and transdermal to diagnostics and probiotics.
Furthermore, the growing efforts of companies to provide antimicrobial solutions for plastics will have stupendous effect on the market trends for antimicrobial packaging. For instance, Microban International, a global leader in antimicrobial additives and odor control solutions announced that it will unveil a built-in antimicrobial solution for plastics at Compounding World Expo 2020. The characteristics of the solutions will conserve the aesthetic properties besides restricting growth of bacteria and mold on the plastic. The company further added the features of the solution will protect the protect whilst reducing the risk of premature product degradation.
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Rising Health-conscious Consumers to Foster Market Growth
The growing cognizance towards nutrition have led to a surge in health-conscious consumers. The rising demand for superior packaging in food products will bolster healthy growth of the market. For instance, antimicrobial agents such as bacteriocins are used into food packaging films to control spoilage of food products. Furthermore, the strict guidelines for drug packaging owing to the concerns regarding contamination and maintenance of hygiene will uplift the market size of antimicrobial packaging, during the forecast period. Nonetheless the focus to reduce counterfeit drugs in the retail market, and to preserve the medicinal properties of the drugs will spur opportunities for the antimicrobial packaging market in the forthcoming years. In addition, the booming pharmaceutical industry will boost the market scope in the foreseeable future.
Adoption of Marketing Strategies by Key Players to Retain Market Position
The global antimicrobial packaging market share is consolidated with key players such as BASF, BioCote Limited, PolyOne Corporation, and Dunmore Corporation. Key players are focused at investing heavily in research and development activities for the development of several antimicrobial packaging products.
Furthermore, small and medium-scale companies are adoption marketing strategies such as, mergers and partnerships, product launches and deal to improve their product offering and other services. This trend is expected to effectively stimulate healthy growth of the market in the forthcoming years.
The Report Lists the Key Companies in this Market
Further Report Findings:
This Market is Segmented into:
Value (USD Million) and Volume (Kilo Tons)
By Antimicrobial Agents