“Antimicrobial Packaging Market: Global Demand Analysis & Opportunity Outlook 2021”
The global antimicrobial packaging market is segmented into end user such as healthcare, food & beverages, personal care and others. Among these segments, food and beverage segment is expected to occupy top position in overall antimicrobial packaging market during the forecast period. Increasing income levels of the population, changing lifestyles and transformation in consumer food habits are some of the factors which are anticipated to propel the growth of the food & beverage antimicrobial packaging market. Moreover, food & beverage antimicrobial packaging segment is projected to showcase highest CAGR during the forecast period.
Global antimicrobial packaging market is expected to flourish at a significant CAGR of 8.9% during the forecast period. Moreover, the global antimicrobial packaging market is expected to reach 5,978.9 KT by the end of 2021. Rising demand for high quality, preservative free and safe products is anticipated to fuel the demand for antimicrobial packaging in the next few years. Moreover, surging consumption of packaged foods is anticipated to boost the demand for antimicrobial packaging market during the forecast period.
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Asia Pacific grabbed the largest percentage of market share in overall antimicrobial packaging market in 2016. Further, Asia-Pacific is anticipated to be in the leading position during the forecast period. This can be attributed to increasing youth population and rising disposable income in the region. Moreover, growing economies such as China and India are believed to propel the growth of the Asia Pacific antimicrobial packaging market. Moreover, Europe is also anticipated to witness significant growth in antimicrobial packaging market during the forecast period.
Rising Demand for Packaged Foods
Rising health concern is driving the people to shift from unpackaged food to packaged food. Moreover, increasing utilization of antimicrobial packaging by several end use industries such as food & beverage and others is predicted to trigger the growth of the antimicrobial packaging market. Apart from this, rising demand for advanced and innovative packaging solutions by food and beverage industry is envisioned to strengthen the growth of the market.
Technological Developments and Innovations
Advances in technology and developments in antimicrobial polymer such as high antimicrobial resistance are believed to be the dynamic factor behind the growth of the antimicrobial packaging market in the upcoming years. Moreover, enhancements and development of innovative antimicrobial packaging solutions is expected to swell the growth of antimicrobial packaging market.
Although, volatility in the price of raw material is likely to dampen the growth of antimicrobial packaging market during the forecast period.
The report titled “Antimicrobial Packaging Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global antimicrobial packaging market in terms of market segmentation by type, by type of packaged products, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global antimicrobial packaging market which includes company profiling of Mondi plc, LINPAC Packaging, BioCote Limited, Dunmore Corporation, King Plastic Corporation, OPLON Ltd., PolyOne Corporation, Microban, MicrobeGuard Corporation and Clariant AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global antimicrobial packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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