NEWARK, DEL, Oct. 26, 2023 (GLOBE NEWSWIRE) -- FMI indicates that the sales of antimicrobial packaging ingredients for food packaging have significantly increased, boosting the operations of companies providing these solutions globally. In addition to this, the market expanded substantially between 2018 and 2022, with a remarkable average year-on-year growth rate of 3.1%.
Due to the higher adoption of antimicrobial packaging ingredients for food packaging among consumers and food manufacturers, the overall market value reached US$ 2,694.1 million in 2022. Moreover, the global demand for antimicrobial packaging ingredients for food packaging could reach a market value of US$ 2,810 million in 2023.
The projected CAGR of 4.3% during the forecast period from 2023 to 2033 offers excellent potential for industries producing antimicrobial packaging ingredients. Continuing this trend, the sales of antimicrobial packaging ingredients for food packaging could reach a sizeable market value of US$ 4,281 million by 2033.
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The rising demand for specialist chemicals in the food packaging sector can be blamed for the rise in sales of antimicrobial packaging components. The increased understanding of the significance of food safety and the necessity of extending the shelf life of perishable food products are the main causes.
These ingredients are used to inhibit the growth of hazardous bacteria and germs in packaged goods, which lowers the risk of foodborne diseases and spoilage. So, the demand for antimicrobial packaging components is anticipated to surge in the coming days, especially from the food and beverage industry.
Key Takeaways from the Global Antimicrobial Packaging Ingredients for Food Packaging Market Study Report by FMI
- Over the next ten years, the global market is projected to witness an absolute dollar increment of US$ 1,471 million.
- North America, with a 26% global market share in 2022, demonstrates a persistent need for antimicrobial packaging components in its regional food sector. Among the countries around the world, the United States was figured out to be the leading market for such ingredients in 2022.
- Europe follows North America in the use of antimicrobial packaging ingredients for food packaging. Germany was figured out to be the leading producer and supplier of such ingredients in Europe in the year 2022.
- Since the public's knowledge of these specialty ingredients has increased, the Asia Pacific region's global market share has improved to 15% in 2022.
"As the research manager, they are delighted to present their latest findings on the Antimicrobial Packaging Ingredients for Food Packaging Market. Their comprehensive study reveals a promising future for this market, with a growing emphasis on food safety driving the demand for antimicrobial packaging ingredients.” Says, Ismail Sutaria, Principal Consultant at Future Market Insights
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Competitive Landscape for the Antimicrobial Packaging Ingredients for Food Packaging Market Players
BioCote, Mondi Group, LINPAC Packaging, Amcor Ltd., OPLON, and Sealed Air, amongst others, are some top players in this market. Mentioned leading players providing these ingredients have consolidated the market by creating formulations that meet stringent food safety requirements while assuring optimal performance.
Innovations in antimicrobial treatments that are efficient and safe for interaction with food have been made possible by developments in food packaging technology and materials. It has boosted the trust of food producers, encouraging new players to enter the antimicrobial packaging ingredients market and diversify the market opportunities further.
The Key Players Are:
- Mondi Group
- BioCote
- LINPAC Packaging
- Reynolds Group
- Dunmore Corporation
- Uflex Ltd.
- Coveris Holdings S.A
- ALUF Plastic Inc.
- Hexis S.A
- WestRock Company
- Others
Recent Developments
In December 2022, BASF announced the launch of a new line of antimicrobial packaging ingredients intended to satisfy the rising demand for environmentally friendly food packaging. These new chemical ingredients are biodegradable and generated from renewable resources.
In November 2022, DuPont revealed that it had purchased MicroGenics, which created a novel antimicrobial packaging technology. The firm may have access to MicroGenics' patented antibacterial technology of utilizing naturally occurring bacteria to prevent the formation of dangerous germs.
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Key Segmentations
By Antimicrobial Ingredient:
- Organic Acids
- Bacteriocins
- Essential Oils
- Enzymes
- Metal Ions & Oxidizers
- Others
By Technology:
- Controlled Release Packaging
- Active Packaging
By Packaging Applications:
- Pouches
- Cartons
- Trays
- Bags
- Films
- Cups & Lids
By End Use:
- Food & Beverage
- Cosmetics & Personal Care
- Consumer Electronics
- Healthcare
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
Author by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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