ALBANY, New York, May 4, 2017 /PRNewswire/ --
The global market for antimicrobial packaging was led by BASF SE, Takex Labo Co. Ltd., The Dow Chemical Company, and Sciessent LLC during 2015, finds Transparency Market Research (TMR) in a new study. The competitive landscape of the global market for anti-microbial packaging market is strewn with innumerable small, large, and medium sized market players.
The leading market players are offering innovative anti-microbial packaging solutions to maintain their status in the global market. For instance, in January 2017, NanoPack, a material science company, received funds worth €7.7 million from the European Union (EU) to develop an antimicrobial packaging solution that will boost the shelf-life of packaged food. A number of market players are looking forward to capitalize on the untapped potential of Asia Pacific and other emerging markets such as Africa and Latin America.
The global market for anti-microbial packaging was pegged at US$10.28bn in 2016, according to the TMR report. Expanding at a CAGR of 5.1% between 2016 and 2024, the global market for anti-microbial packaging is expected to reach US$15.31bn by the end of 2024.
Increasing Demand for Convenience Food Places Asia Pacific at Fore
Asia Pacific held the dominant share of 33.3% in the global market for anti-microbial packaging in 2015. The growing demand for plastic packaging, high rate of urbanization, and towering popularity of convenience food are some of the primary growth drivers of the anti-microbial packaging market in this region. North America and Europe might grow at a moderate pace, owing to high awareness about safety of packaged food products among consumers and high disposable incomes of people.
Get PDF Sample for this Research Report @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18434
By material, the plastics segment is expected to emerge at the fore thanks to the lower costs and highly advantageous properties of this material. These include high flexibility enabling multiple layered packaging, superior elasticity, and easy availability. Some types of plastics have been developed to possess inertness to bacteria as well.
Efforts of Manufacturers to Boost Shelf-life of Packaged Food Encourages Growth
The rising incidence of food-borne and water-borne diseases, price fluctuation in the food and beverage industry, and the alarming increase in global scarcity of food have spurred the demand for anti-microbial packaging. A number of households and stores have been hoarding condiments, mixes, pickles, beverages, and certain food products with longer shelf life. As a result, the improving of shelf life has become a key area of concern for numerous manufacturers as well as consumers. These factors are fuelling the demand for anti-microbial packaging, thereby accelerating the market's rate of growth.
Notwithstanding the firm growth of the market, it might face certain hindrances from the strict regulations applicable to antimicrobial agents added to food wrappings, packages, and food itself. The necessity to use only certain types of chemicals in anti-microbial packaging is a key challenge that needs to be worked out by manufacturers. However, the changing food preferences in emerging economies will ensure that the packaged food industry will flourish in the coming years. China, Malaysia, Singapore, South Korea, India, and Japan are likely to contribute significant amount of revenue to the global anti-microbial packaging market. This will in turn give impetus to the global market for anti-microbial packaging.
Get more information from Research Report Press Release: http://www.transparencymarketresearch.com/pressrelease/antimicrobial-packaging-market.htm
The information presented in this review is based on a Transparency Market Research report, titled, "Antimicrobial Packaging Market (Material - Plastic (PE, PET, PVC, LDPE, HDPE), Biopolymer, Paperboard, Glass, and Tin; Technology - Controlled Release Packaging and Active Packaging; Antimicrobial Agent - Organic Acid, Bacteriocins, Essential Oils, Enzymes, and Metal Ions and Oxidizers; Package - Pouches, Bottles & Cans, Carton Packages, Trays, Bags, and Cups and Lids; Application - Food and Beverage, Personal Care, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024".
Key segments of the Global Antimicrobial Packaging Market
Global Antimicrobial Packaging Market, by Material
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Low-Density Polyethylene (LDPE)
- High-Density Polyethylene (HDPE)
Global Antimicrobial Packaging Market, by Technology
- Controlled Release Packaging
- Active Packaging
Global Antimicrobial Packaging Market, by Antimicrobial Agents
- Organic Acid
- Essential Oils
- Metal Ion & Oxidizers
Global Antimicrobial Packaging Market, by Package Type
- Bottles & Cans
- Carton Packages
- Cups & Lids
Global Antimicrobial Packaging Market, by Application
- Food & Beverage
- Personal Care
Global Antimicrobial Packaging Market, by Geography
> North America
- Rest of North America
- Rest of Europe
> Asia Pacific
- Rest of APAC
> Middle East and Africa
- South Africa
- Rest of Middle East & Africa
> Latin America
- Rest of Latin America
Top Most Research Reports by TMR:
- Blow Fill Seal (BFS) Technology Market: http://www.transparencymarketresearch.com/latin-america-blow-fill-seal-technology-market.html
- Pharmaceutical Bottles Market: http://www.transparencymarketresearch.com/spain-pharmaceutical-bottles-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
US Office Contact:
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
SOURCE Transparency Market Research