Health-conscious, busy customers boost antimicrobial packaging market value 2023
According to a new market analysis, demand for antimicrobial packaging is increasing due to the growing demand for packaged foods. Antimicrobial packaging is anticipated to reach a global market value of $11.5 billion by 2023.
Future Market Insights’ upcoming report on the antimicrobial packaging market cites a significant shift in lifestyle, a rise in the demand for packaged foods, and a substantial increase in the number of health-conscious consumers as the primary growth drivers.
Asia-Pacific is expected to be the most lucrative market for antimicrobial packaging, according to the report. This can be attributed to the region’s growing demand for packaged food as well as its expanding healthcare and pharmaceutical industries.
Antimicrobial packaging is expected to reach $20 billion by 2033, growing at 5.7%.
In addition, it is anticipated that healthcare expenditures in the Asia-Pacific will increase by approximately 40% over the next five years, a rate that is double the global average.
According to the report, North America is another expanding market for antimicrobial packaging. In the region, packaging consumption increased by approximately 10% between 2012 and 2016, and is projected to increase by approximately 20% by the end of 2022.
Long-term market growth is anticipated to be driven by increased packaging consumption and demand for safe and microbial-free packaged products, according to the analysis. In addition, elevated government expenditure on healthcare, particularly in the United States, has increased demand for antimicrobial packaging.
Food packaging has always been a significant health concern. According to the report’s executive summary, government authorities around the world have established numerous regulations regarding food packaging, which has a positive effect on market growth.
The healthcare industry has experienced significant growth in recent years, which will directly increase product sales in the foreseeable future, according to the analysis. Antimicrobial packaging is commonly used for perishable, preservative-free food products that require minimal processing.
Recent years have witnessed an increase in the use of antimicrobial packaging, as a result of a greater awareness of consumer health and the enhancement of product shelf life. This trend will likely persist throughout the forecast period, resulting in increased product sales.
Another report from April 2023 assessed the global antimicrobial plastics market to be worth $41.7 billion in 2022. According to the research, the plastics market could reach $64.8 billion by 2028.
According to the report, the demand for antimicrobial polymers is being driven by the expansion of the healthcare, automotive, and building & construction industries. In terms of value, packaging is anticipated to be the second fastest-growing segment of the antimicrobial plastics market between 2022 and 2028.
