The global antimicrobial packaging ingredient for food packaging market is expected to garner a market value of USD 2,810 million in 2023. By 2033, it is expected to accumulate a market value of USD 4,281 million by registering a CAGR of 4.3% during the forecast period from 2023 to 2033.
People's changing lifestyles, food preferences, and the increasing population in developing countries may drive market growth during the forecasted period.
People's growing preference for processed food is driving the antimicrobial packaging ingredients for the food packaging market, as is the growing working population, rising disposable incomes, and hectic lifestyles, as well as shifts in population dynamics from rural to urban areas.
Over the years, new technologies such as active packaging, intelligent packaging, and engineering science have evolved, allowing for the flexible packaging of food products. Companies use biodegradable packaging material that can be recycled, renewed, and reused to create eco-friendly packaging.
However, the market is expected to remain highly regulated, with agencies such as the United States FDA and the European Commission imposing stringent regulations regarding the use of food packaging types and food contact materials and the slow growth of antimicrobial packaging ingredients for the food packaging market is hampering the market's growth.
Report Attributes or Data Points | Details |
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Global Antimicrobial Packaging Ingredients for Food Packaging Market Valuation in 2022 | USD 2,694.1 million |
Estimated Global Market Share in 2023 | USD 2,810 million |
Forecasted Global Market Size by 2033 | USD 4,281 million |
Projected Global Market Growth Rate from 2023 to 2033 | 4.3% CAGR |
Historical Market Growth Rate from 2018 to 2022 | 3.1% CAGR |
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The global demand for antimicrobial packaging ingredients for food packaging is projected to increase at a CAGR of 4.3% during the forecast period between 2023 and 2033, reaching a total of USD 4,281 million by 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed remarkable growth, registering a CAGR of 3.1%.
Although the market is penetrated by various heating equipment, advancement in technology has led to the easy installation of electric underfloor heating. Various attributes of antimicrobial packaging ingredients for food packaging are working in favor of the same. From weather changes in certain regions to energy-saving capabilities, antimicrobial packaging ingredients for food packaging have multi-purpose functions.
In forthcoming years, antimicrobial packaging ingredients for food packaging systems are expected to gain prominence as most new construction sites are already installing the same as a necessity. With the construction industry developing rapidly in developing regions, the demand for antimicrobial packaging ingredients for food packaging is expected to rise.
Innovative Ways of Food Packaging to Drive Demand
While the market has been prevalent in the food industry, manufacturers are discovering new revenue streams in the beverage industry, particularly in dairy-based beverages and drinks - both non-alcoholic and alcoholic. As the food industry transitions from traditional plastic packaging to the latest active packaging and coatings, it may collaborate closely with scientific safety analysis to understand the potential hazards.
YPACK has developed an organic plastic alternative to the traditional plastic food packaging technique. The compostable packaging solution is made from an eco-friendly biopolymer called poly (3-hydroxybutyrate-co-3-hydroxy valerate) (PHBV), which is derived from almond shell nitrocellulose and industrial byproducts (cheese whey). Biodegradability tests show that complete degradation occurs within three months.
Furthermore, several novel concepts in food packaging, such as smart antimicrobial coatings, have been introduced in recent years. Smart antimicrobial coatings are designed to reduce microbe growth, while sensors monitor chemical and physical conditions that reflect or influence food product quality. These additions have positive health, socioeconomic, and environmental effects, which can be enhanced by carrying out smart functions using robust technologies and renewable natural materials.
Increasing Demand for Shelf-life Extension of Foods Accelerating Antimicrobial Packaging Ingredients for Food Packaging Market
It takes time for packaged food to reach consumers in different parts of the world after it has been packaged. The packaged food may not be fresh and may have lost its aroma and flavor before it reaches the consumer. The risk of food spoiling before it reaches the consumer is growing, as it may result in a loss of the capital invested in packaging.
To address this, food processing industries are investing in technologies and new packaging techniques, such as intelligent packaging and engineering science, which help to extend product shelf life. Organizations are focusing on customer satisfaction in addition to revenue because it affects the company's image and value in the market.
According to a Consumer Action survey of American adults conducted in July 2019, 34% of adults identified cardboard as the most recyclable food packaging material, followed by plastic (26%), glass (21%), and metal (8%). Consumers are increasingly choosing packaged products with a longer shelf life due to rising health consciousness and awareness about the importance of eating fresh food. As a result, rising demand for longer-lasting products in countries such as the United States is propelling market growth.
High Cost of Materials to a Key Restraint for the Antimicrobial Packaging Ingredients for Food Packaging Market
Materials used to make antimicrobial packaging ingredients for food packaging are petroleum-based, making them price volatile. Due to stringent environmental regulations, market participants are turning to post-consumption recycling of products.
The process is complex and costly, which reduces manufacturers' profit margins, particularly in small and medium-sized businesses (SMEs). To address the situation, market participants are experimenting with new ways to promote their sustainability agenda, such as using biodegradable alternatives such as biopolymers.
Increasing Consumption of Convenience Foods to Promote Market Growth in the United States and Canada
In 2022, North America was expected to account for a sizable market share, accumulating 26% of the global value share. North America is anticipated to continue to be the market leader in antimicrobial packaging ingredients for food packaging. The United States is the global leader in the consumption of convenience foods. Furthermore, increased sickness incidences caused by tainted food items provide market participants with prospective development opportunities.
E-commerce penetration has increased significantly in the region as a result of increased internet adoption and the emergence of various e-commerce-based services in the country. Over 66% of the Canadian population purchased products online in 2021, and the percentage is expected to reach 77% by 2024.
Because of the high logistics and supply chain demand, online distribution of packaged food products necessitates additional packaging requirements. As a result, the growing penetration of e-commerce in Canada is expected to contribute to the region's market growth. The shift in consumer preferences toward meat alternatives, combined with the growing vegan population, is expected to open new growth avenues for antimicrobial packaging ingredients for food packaging companies such as Beyond Meat, AMY's Kitchen Inc., and Morning Star Farms, which have seen significant growth in recent years, assisting the market's growth.
Increasing Consumption of Ready-to-eat Food Products Creating Opportunities for Antimicrobial Packaging Ingredients for Food Packaging Companies
Asia Pacific (APAC) is expected to emerge as the most profitable area in the next years. Fast-paced lifestyles, which result in increased consumption of convenience foods, drive market expansion in developed and emerging areas.
By 2033, the antimicrobial packaging ingredients for the food packaging market in the Asia Pacific are expected to generate an incremental opportunity during the forecast period. The growing popularity of ready-to-eat food products is driving up demand for food packaging solutions. Increased consumption of snacks, bakery, and confectionery products in Asia Pacific is also influencing the market growth.
According to FMI, the Asian seafood market was worth around USD 343 billion in 2022. Antimicrobial packaging ingredients for food packaging demand in the Asia Pacific reached around USD 83 billion in the seafood segment. Thus, Asia Pacific is expected to hold 15% of the market share for the Atherosclerosis market in the forecast period from 2023 to 2033.
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Demand to Remain Elevated in the Food & Beverages Domain
In 2022, the food & beverages segment was expected to hold a massive revenue share, totaling 25.0%. These products are typically packed in high moisture barrier packaging to extend shelf life. Because of advantages such as lightweight, printability, and cost-effectiveness over paper cartons and tins, flexible packaging is widely used for the application above. Additionally, the appealing packaging of these products is expected to boost segment growth.
Over the forecast period, the snack segment is expected to grow. Due to their convenience, prepared or ready-to-eat snacks are a popular choice for dual-earner households and students. As a result, the snacks segment is expected to grow due to the high acceptance of packaged food.
Because of shrinking households, consumers' preference for dairy products in smaller packs is expected to boost market growth. Manufacturers' adoption of appealing food packaging strategies is also expected to drive segment growth. Furthermore, rising demand for dairy products such as yogurt and ice cream is expected to boost growth. The increasing power of vegans in the region has increased growth opportunities for companies in antimicrobial packaging ingredients for food packaging. Demand for ready-to-eat meals is expected to rise significantly during the forecast period.
Key startup players in the antimicrobial packaging ingredients for food packaging market are
The worldwide antimicrobial packaging ingredients market for food packaging is generally consolidated but may see stiff competition during the forecast period due to changing customer preferences and the emergence of younger firms.
The presence of multiple SMEs and large multinational companies may increase market rivalry. Key players in the antimicrobial packaging ingredients for the food packaging market include BioCote, Mondi Group, LINPAC Packaging, Amcor Ltd., OPLON, and Sealed Air, amongst others.
Report Attribute | Details |
---|---|
Market Value in 2023 | USD 2,810 million |
Market Value in 2033 | USD 4,281 million |
Growth Rate | CAGR of 4.3% from 2023 to 2033 |
Base Year for Estimation | 2022 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | Revenue in USD million or USD billion and CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered | By Technology, By Packaging Applications, By End Use, By Region |
Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; The Middle East & Africa |
Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, Italy, France, Spain, United Kingdom, Russia, China, Japan, India, GCC, Australia |
Key Companies Profiled | Mondi Group; BioCote; LINPAC Packaging; Reynolds Group; Dunmore Corporation; Uflex Ltd.; Coveris Holdings S.A; ALUF Plastic Inc.; Hexis S.A; WestRock Company; Others |
The market is expected to be valued at USD 2,810 million in 2023.
Mondi Group, BioCote, and LINPAC Packaging are the leading market players.
The market is expected to reach USD 4,281 million by 2033.
The market sales thrive due to food safety and consumer health concerns.
Food & beverages are the key segment in the market.
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