Antimicrobial Packaging Market To Be Driven By Rising Demand For Confectionery & Bakery Products Till 2024:Grand View Research, Inc.

The global antimicrobial packaging market (http://www.grandviewresearch.com/industry-analysis/antimicrobial-packaging-market) is expected to reach USD 11.92 billion by 2024, according to a new report by Grand View Research, Inc. Growing demand for confectionery & bakery products is expected to drive the global antimicrobial packaging market. Apart from bakery products, these agents are widely used in meat, poultry, seafood grain seeds, fruits, and vegetables.
Antimicrobial packaging releases active agents into food products which help to inhibit the growth of microorganisms and increase the shelf life. These releasing compounds maintain the food quality and reduce the need for preservatives and additives.
Antimicrobial active packaging is widely used in healthcare applications. These elements are specifically used to protect the plastic products, tablets and medical equipment against bacteria & fungal growth. Antimicrobial preservatives such as ethanol, phenol, cresol, parabens and bronopol can be added to pharmaceutical products to protect against microbial contamination.
However, antimicrobial agents derived from synthetic pathogenic sources are not found to satisfy consumers as they demand products extracted from natural sources. Such a factor is expected to hinder the overall market growth over the next eight years.

Further key findings from the report suggest:
• The global antimicrobial packaging market demand was 6.51 million tons in 2015 and is expected to reach 10.09 million tons by 2024, growing at a CAGR of 5.0% from 2016 to 2024
• Plastics were the leading base material used for antimicrobial packaging and accounted for 64.8% of total volume in 2015. Biopolymers are expected to witness the highest growth of 6.3% over the forecast period owing to its good physical, mechanical and chemical properties. In addition, they are recognized as an asset to waste processing.
• Organic acid were the leading antimicrobial agents consumed and accounted for 37.3% of total market volume in 2015. Bacteriocins are expected to witness the highest growth of 5.4% over the forecast period.
• Pouches emerged as the most dominant pack product and accounted for 39.2% of global volume in 2015. The segment is expected to witness similar trend in the near future due to its usage across different industries. Pouches are also expected to witness the highest growth of 5.5% over the forecast period.
• Food & beverages were the most dominant application segment and accounted for 44.5% of total market volume in 2015. Stringent regulations regarding food safety across various regional markets have led to the increased penetration in the industry. The segment is also expected to witness the highest growth of 5.3% from 2016 to 2024. Moreover, controlled release packaging technology has been gaining wide importance for food packaging applications due to its impeccable response with respect to time.
• Asia Pacific was the leading regional market and accounted for 33.3% of global demand in 2015. Busy lifestyle coupled with shifting preferences to consume ready to eat meals particularly in countries such as Japan, India and China has led to growth in the regional market. The region is also expected to witness the highest growth of 6.1% over the forecast period.
• Key companies operating in the global market include Mondi Plc, BASF SE, Dow Chemicals, Dunmore Corporation, PolyOne Corporation, Linpac Senior Holdings, Bicote Corporation and Microban International. Agion Colorcon, a pharmaceutical company, is using a new antimicrobial product Agion Technologies, in their product line named No-Tox AM.

Grand View Research has segmented the global antimicrobial packaging market on the basis of base material, antimicrobial agents, technology, pack type, application and region:
Antimicrobial Packaging Base Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
• Plastics
• Biopolymers
• Paperboard
• Others
Antimicrobial Packaging Antimicrobial Agents Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
• Organic Acid
• Bacteriocins
• Others
Antimicrobial Packaging Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
• Active
• Controlled release
Antimicrobial Packaging Pack Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024
• Carton Packages
• Pouches
• Others
Antimicrobial Packaging Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
• Food & Beverage
• Healthcare
• Personal Care
• Others
Antimicrobial Packaging Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
• North America
o U.S.
• Europe
o Germany
o UK
o Spain
• Asia Pacific
o China
o India
• Central & South America
o Brazil
• Middle East & Africa

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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This release was published on openPR.