The global antimicrobial packaging market depicts an intensely competitive and fragmented landscape, thanks to large number of global and small players, reports Transparency Market Research (TMR). Some of the main players in the antimicrobial packaging market are BASF SE, Sciessent LLC, The Dow Chemical Company, and Takex Labo Co. Ltd.
Main players in the antimicrobial packaging market are focused on expanding their global footprint through collaboration and innovation. Main players in the antimicrobial packaging market are focused on developing new agents.
Additionally, vulnerability of antimicrobial compounds in relation to widely used packaging polymer, presents a major challenge for end-use industries such as food & beverage. Development of biopolymers and advanced coating technique promise lucrative opportunities for players in the antimicrobial packaging market.
According to TMR, the antimicrobial packaging market is likely to register a 5.1% CAGR during 2016-2024. The health CAGR is expected to help the market up its evaluation from US$10.28 bn in 2016 to US$15.31 bn by 2024 end. Rising demand for plastic packaging is expected to drive this growth in the near future.
The rising demand for food products and large population in Asia Pacific are also expected to become a boon for the antimicrobial packaging market during 2018-2024. The region led the global market in terms of revenue share in 205, accounting for a total 33.3%. The antimicrobial packaging market in Asia Pacific is anticipated to lead growth in the near future.
According to Centers for Disease Control and Prevention (CDC), annually 48 million (or 1 in 6) Americans fall sick due to food. Food contamination occurrences are common in popular food products such as meats, fruits-nuts, root vegetables, and leafy vegetables. Additionally, despite 9 million of food borne illness cases resulting from known pathogens, food contamination still presents a major headache for the food and beverage industry. Complete food security is a distant dream for the industry, due to complex logistics such as transportation, food handling, and post-production handling as well. In 2000, 500 million eggs from two Iowa producers were recalled after a major Salmonella detection.