(PRNewswire) Transparency Market Research (TMR) notes that the global antimicrobial packaging market is expected to grow steadily due to the existence of large players who are investing in research and development for hygienic packaging materials aimed at conserving food. Some of the leading players in the market include BASF SE, Dow Chemical Company, Takex Labo Co., and Sciessent LLC.
The TMR report projects the market to register a compounded annual growth rate of 5.1 percent from 2016 to 2024, reaching a total of $15.31 billion.
Out of various materials for antimicrobial packaging, the demand for plastic from various industries is expected to remain high in the next few years due to their security and flexibility. Region-wise, Asia Pacific is expected to lead the global antimicrobial packaging market in the coming years. This is attributed to the flourishing retail division and rapid establishment of various industries in the region.
Antimicrobial packaging helps in releasing active agents present in the food products. This packaging further helps in inhibiting the growth of the microorganisms and thus, enhances the shelf-life of the product. Antimicrobial packaging maintains the food quality for a longer period of time and also helps in reducing the need for additives and preservatives. A growing bakery and confectionery industry, increasing foodborne and waterborne diseases, and rising awareness of food shortages are the factors driving the global antimicrobial packaging market.
Additionally, the rapidly expanding food and beverages industry, rising demand for life expectancy of food products from food producers, and increasing demands from the healthcare industry for protecting medical equipment and tablets against bacteria are also boosting the global antimicrobial packaging market. FDA approvals for expanding antimicrobial packaging in order to protect food products and wrapping is playing a leading role in this growth as well.
A few challenges hindering the growth of the global antimicrobial packaging market is its' high cost and the growing use of synthetic pathogenic antimicrobial agents in packaging. Nonetheless, the persistent demand from the food and beverages industry is expected to help overcome these challenges in the near future.
