The global antimicrobial packaging market
is expected to witness a highly intense competitive scenario in the
coming years, states Transparency Market Research (TMR) in a research
report. The increasing competition can be attributed to the presence of
several regional and global players of small, medium, and large scale.
The crème of the crops present in the market are The Dow Chemical
Company, BASF SE, Sciessent LLC, and Takex Labo Co. Ltd. The companies
are likely to get attracted by the opportunities present in the Asia
Pacific region. The players are likely to highly benefit from this
market owing to the rising demand for convenience food in the region
along with proliferating health concerns among the people living in the
region which will give the players a better opportunity to enhance their
reach, thus further intensifying a competition.
According to a TMR analyst, “The global
market for antimicrobial packaging is expected to witness a 5.1% CAGR
from 2016 to 2024. The market is expected to be worth US$15.31 bn by the
end of 2024 rising from a valuation of US$10.28 bn in 2016.”
Plastics to be in Ultimate Demand
On the basis of materials, the global
market has been segmented into plastics, biopolymers, paperboards, and
tin, among other minority materials. Among all these, plastics have
emerged as the most loved material and have been gaining popularity
owing to their superior features related to chemical, mechanical, and
physical formulations. Plastics are effortlessly pliant, can give
adequate levels of flexibility, security against tears, numerous layered
packaging, all requiring little to no effort when contrasted with other
packaging materials.
Region-wise, the market has been
segmented into Latin America, the Middle East and Africa, Europe, Asia
Pacific, and North America. Asia Pacific emerged as the leading region
in 2015 accounting for a share of 33.3% in the same year. It is expected
to maintain the leading position until the end of the forecast period.
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High Shelf Life Provision to Augment Demand
The expanding examples of waterborne and
foodborne diseases, cost expansion food and beverages industry, and
growing awareness regarding food shortage around the globe is setting a
ton of consumers at a spot where they need to maintain a strategic
distance from wastage of food however much as could reasonably be
expected. This need is enlarged by the general household inclinations
with the average workers of accumulating certain sorts of beverages,
mixers, condiments, spices, and food products.
On the whole, this structures the main
factor driving the worldwide antimicrobial packaging market, because of
the reasonable lead that antimicrobial packaging holds as far as
broadening the time span of usability of its consumable substance.
Producers of food products and also the basic consumer statistic is
currently searching for approaches to build the general life expectancy
of food and beverage products and this pursuit drives them to the few
sorts of antimicrobial packaging accessible today.
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