Market Size of Antimicrobial Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.89 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Antimicrobial Packaging Market Analysis
The antimicrobial packaging market is expected to register a CAGR of 5.89% over the forecast period 2021 - 2026. Antimicrobial packaging evades the growth or decay due to microorganisms in the packaged foodstuff that can cause intricacies regarding food safety and quality. The concept of 'Active Packaging' was introduced in the process, where different active substances are included in the packaging material to enhance its functionality.
- One of the main drivers of the antimicrobial packaging market is the growing demand for packaged food. An accelerating number of working women, migration of people from urban to rural regions, and a rise in disposable income in developing economies are the factors that feed the demand for packaged food. At times, packaged food is favored over fresh food because of quality and hygiene. Furthermore, it is convenient and made palatable.
- Also, increasing awareness about consumer health and greater shelf life of products has resulted in improved usage for antimicrobial packaging products. The requirement for ready-to-eat, minimally treated, and efficiently prepared food is growing day-by-day. For instance, Revenue from the ready-to-eat (RTE) food segment is expected to amount to USD 83,849 million in 2020, according to the industry forecasts. The rise of RTE and grab-and-go meals are expected to shape the future packaging trend.
- Furthermore, antimicrobial packaging has an increasing number of applications in the beverage packaging business. Antimicrobial agents are being employed to improve the shelf life of alcoholic, nonalcoholic, fruit juices, flavored milk, wines, and dairy-based beverages and drinks. Besides, the rise in demand for baked and confectionery products among consumers in emerging economies is expected to spearhead the market growth during the forecast period.
- Also, amidst the pandemic COVID-19, with a rise in the number of patients suffering from the virus. The patients are more susceptible to secondary fungal and bacterial infections. The data related to the viral infection (COVID-19) sourced from The Lancet indicated that about 50% of patients that died from the virus had secondary infections. The optimistic healthcare industry, therefore, provides significant scope for the market over the forecast period.
