Antimicrobial Packaging Market Overview
Antimicrobial packaging refers to the application of active packaging. The especially designed antimicrobial packaging prevents the superficial evolution of bacteria and germs in food by using antimicrobial mediator where the large portion of spillage and contamination occurs. It permits a well ordered release of antimicrobial mediator into the food surface throughout the storage.
Market Size and Forecast
The global antimicrobial packaging market is anticipated to flourish at a CAGR of 5.2% during the forecast period i.e. 2017-2024. Further, the market of antimicrobial packaging was valued at USD 7.65 Billion in 2016 and is projected to garner USD 11.48 Billion by the end of 2024. Factor such as, rising demand for confectionery & bakery products are anticipated to drive the growth of the global antimicrobial packaging market over the forecast period.
In the regional market, Asia Pacific is expected to dominate the overall market of antimicrobial packaging over the forecast period. Factors such as, rising demand for food between the youths & adults is anticipated to fuel the growth of the Asia Pacific antimicrobial packaging market over the forecast period. Further, factor such as increasing prevalence of diseases are envisioned to increase the growth of global antimicrobial packaging market in Asia Pacific over the forecast period.
North America antimicrobial packaging market is poised to record the fastest growth over the forecast period. Factor such as, increase in consumption of antimicrobial packaging are anticipated to drive the growth of the global antimicrobial packaging market over the forecast period in North America.
Based on type, antimicrobial packaging market is segmented into commodity plastic, high performance plastic and engineering plastic, out of which, commodity plastic is expected to dominate the overall market of antimicrobial packaging over the forecast period.
Our in-depth analysis has segmented global antimicrobial packaging market into the following segments:
By Product Type
By End User
Global antimicrobial packaging market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Factor such as, lack of proper cold storage across the globe is anticipated to intensify the growth of the global antimicrobial packaging market. Further, rising concern amongst people about keeping good health and hygiene is anticipated to positively drive the growth of the antimicrobial packaging market during the forecast period.
Apart from this, increase in disposable income and high healthcare cost is anticipated to be the dynamic factor behind the growth of the antimicrobial packaging market. Moreover, rise in communicable diseases through microorganisms in the food is likely to further strengthen the growth of the global antimicrobial packaging market. However, cost effectiveness in raw material process is some of the key factors which are expected to limit the growth of global retail automation market in upcoming years.
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