Packaging Additives Market is projected to expand at a CAGR of 4.3% during the forecast period 2022-2026

The global packaging additives market is set to enjoy valuation of US$ 549 Mn in 2022, with the market predicted to expand at a CAGR of 4.3% and attain a net worth of US$ 650 Mn by the end of 2026.

In the packaging industry, packaging additives have prominent applications in end-use industries like food and beverages and pharmaceuticals. The rise in disposable income and increase in economic growth are the significant factors driving the growth of the global packaging additives market. One key driver in the global packaging additives market is the expansion of convenient packaging and food industry in various emerging countries across the globe.

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Key players considered in this report on global packaging additives market include

AkzoNobel N.V.
ALTANA Group
Arkema
BASF SE
ColorMatrix Group
Flint Group
Henkel
Huber Group
Lubrizol Corporation
PPG Industries Inc
Sun Chemical Corporation
Valspar Corporation
Wacker Chemie AG
Evonik
Many unrecognized and local players are expected to contribute to the global packaging additives market during the forecast period.

The packaging industry in regions such as North America and Europe is highly mature and supports manufacturers to promote market growth in other regions. Growth opportunities in the packaging additives market due to the variation in the food consumption habits in regions such as Middle East and Asia Pacific excluding Japan is prompting various leading manufacturers of packaging additives to set up the production units in this regions.

The growth of packaging additives can mainly be attributed to the contributions of emerging economies in North America such as the U.S. and Canada. The U.S. is expected to be at the forefront, spearheading the growth of the packaging additives market, during the forecast period. According to the research by Future Market Insights, the U.S. packaging additives market has witnessed rapid growth in the past couple of decades. As per volumetric analysis, the plastic sub segment in the substrate segment is projected to dominate the packaging additives market. So, packaging additives manufacturers are looking forward to developing such biodegradable bioplastics that will reduce the carbon footprint.

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Key Segments of Packaging Additives Industry Survey

By Substrate Type :

Packaging Additives for Plastics
Packaging Additives for Metals
Packaging Additives for Paper & Paperboards
Others (Glass)
By Product Type :

Antimicrobial Agents
Antifog Agents
Antistatic Agents
Clarifying Agents
Oxygen Scavengers
UV Stabilizers
By Packaging Type :

Packaging Additives in Flexible Packaging
Packaging Additives in Rigid Packaging
By Region :

North America Packaging Additives Market
Latin America Packaging Additives Market
Europe Packaging Additives Market
East Asia Packaging Additives Market
South Asia & Pacific Packaging Additives Market
Middle East & Africa (MEA) Packaging Additives Market

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The companies involved in the manufacturing of packaging additives are focusing on enhancing their production capacity by establishing new production units. The key motive is to have a worldwide presence through collaborations, acquisitions, or by exports in the packaging additives market. The manufacturers of packaging additives are likely to eye the lucrative regions of North America and the Asia Pacific in the coming years.

Various vital players find regions such as the Asia Pacific and Middle East & African attractive to develop packaging additives plants in the coming years. Some of the key drivers for the growth of the global packaging additives market include growing demand from the food & beverage industry due to its biodegradable nature.

The packaging additives market in Asia Pacific Excluding Japan (APEJ) is expected to create the highest incremental $ opportunity during the forecast period and is expected to grow at a significant pace in the coming years. The revenue from the packaging additives market in North America is estimated to account for over 21.9% of the global packaging additives market revenue in 2018.

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 4-years.

This release was published on openPR.