Antimicrobial Packaging Market is projected to rise to US$11.88 bn by the end of 2024; expanding at a CAGR of 5.6% within a forecast period from 2016 to 2024
Albany, NY -- (SBWIRE) -- 03/08/2017 -- Global Antimicrobial Packaging Market: Snapshot
The ability of top products from the global antimicrobial packaging market are completely capable of providing stored food and beverage contents with a well-extended shelf life. This forms the leading driver for the market currently. The global antimicrobial packaging market is also expected to be augmented by the increased demand shown by consumers resulting from a greater awareness on health issues that come with improper storage and use of wrong storage materials. The overall demand for antimicrobial packaging has also benefitted from a globally increasing consumption rate of processed foods. However, the global antimicrobial packaging market is governed by extremely strict regulations that vary between regions, making it difficult for newer players to keep implementing the varied safety standards.
Browse Market Research Report @ http://www.transparencymarketresearch.com/antimicrobial-packaging-market.html
The global antimicrobial packaging market is expected to rise to US$11.88 bn by the end of 2024, after expanding at a CAGR of 5.6% within a forecast period from 2016 to 2024. The market was valued at US$7.65 bn at the end of 2015.
Consistent Dominance by APAC in Antimicrobial Packaging Attracts Global Players
From a geographical perspective, the global antimicrobial packaging market can be segmented into the key regions of North America, Asia Pacific, Europe, The Middle East and Africa, and Latin America. Among these, the global antimicrobial packaging market was led by Asia Pacific in 2015, with a share of 33.3% in its value. The leadership of Asia Pacific has largely been attributed to its densely populated urban areas that are showing a very high demand for plastic packaging. The urban population of Asia Pacific is continuously growing at a high rate, which coupled with the changing and increasingly hectic lifestyles of the working class is driving more consumers towards convenience and packaged foods and beverages.
North America has also consistently shown a promising rate of increase in consumption of antimicrobial packaging over the years and is likely to continue in its path for the coming years. In 2015, North America was held second place in total demand in the global antimicrobial packaging market, followed by Europe. The MEA regions is also expected to show a very high rate of growth in its demand for antimicrobial packaging over the coming years, owing to a growing awareness among consumers regarding the growing instances of waterborne and other contagious diseases.
Plastics Considered Ultimate Antimicrobial Packaging
Based on materials, the global antimicrobial packaging market can be segmented into tin, paperboards, biopolymers, plastics, and other minority materials. Among these, plastics have long been popular as antimicrobial packaging materials due to their physical, mechanical, and chemical superiority over other options currently available. Plastics are easily moldable, can provide sufficient levels of elasticity, protection against tears, multiple layered packaging, all at a very low cost as compared to other packaging materials. It has become extremely common to see plastics being used in all aspects of the packaging industry, and it holds a special importance in antimicrobial packaging due to the inertness of certain plastics to bacteria as well as the ease of using vacuum or gas-filled antimicrobial packaging.
Fill the form for an exclusive sample of this report @ http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=18434
However, using plastics comes at the cost of complicating disposal and waste management, as these 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 is the leading cause of growth for the segment of biopolymers, 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 at a leading CAGR within 2016 and 2024.
In 2015, leading players in the global antimicrobial packaging market included Sciessent LLC, Takex Labo Co. Ltd, The Dow Chemical Company, BASF SE, LINPAC Senior Holdings Limited, Barr Brands International, Mondi PLC, BioCote Limited, PolyOne Corporation, and Dunmore Corporation.