Global Antimicrobial Packaging Market To Increase 5.6 Percent

  • Tuesday, 09 May 2017 00:00
  • Published in Business News
  • Read 507 times

The global antimicrobial packaging market is expected to rise to US$11.9 billion by the end of 2024, according to Transparency Market Research.

The main purpose of antimicrobial packaging materials is to prevent packaged food or drink from spoilage and contamination. The rising concerns about food-related infections have driven the demand for antimicrobial packaging in recent years. The research report showed that the efforts to reduce food wastage in times of food scarcity are also likely to fuel the rise of antimicrobial packaging in the global market.

The global antimicrobial packaging market is expected to rise to US$11.9 billion by the end of 2024, after expanding at a CAGR of 5.6 percent within a forecast period from 2016 to 2024. The market was valued at US$7.65 billion at the end of 2015.

The global antimicrobial packaging market is predicted to be shaped by consumers’ awareness on health issues that come with improper storage, the use of wrong packaging for materials, as well as safe packaging which is capable of storing food and drink with an extended shelf life. The overall demand for antimicrobial packaging has also risen due to increasing consumption rate of processed foods worldwide.

The global antimicrobial packaging market was led by Asia Pacific in 2015, with a share of 33.3 percent in its value. This resulted from its densely populated urban areas that are displaying a high demand for plastic packaging. The changing and increasingly hectic lifestyles of the working class in Asia Pacific are driving more consumers towards convenience and packaged foods and beverages.

Based on materials, the global antimicrobial packaging market can be segmented into tin, paperboards, biopolymers, plastics, and other minority materials. Plastics are easily mouldable, can provide sufficient levels of elasticity, protection against tears, multiple layered packaging; all at a very low cost as compared to other packaging materials.

The use of plastics comes at the cost of complicated disposal and waste management, as plastics are largely non-biodegradable. Recycling of plastics at a large scale is still a difficult process to carry out, especially in developing economies. This has resulted in the popularity and growth of biopolymers for food packaging, due to their ability of being easier to dispose and being less harmful to nature. The segment of biopolymers in the global antimicrobial packaging market is expected to expand within 2016 and 2024.

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Asia Pacific Food Industry (APFI) is Asia’s leading trade magazine for the food and beverage industry. Established in 1985, APFI is the first BPA-audited magazine and the publication of choice for professionals throughout the industry with its editorial coverage on the latest research, innovative technologies, health and nutrition trends, and market reports.

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