The usage of antimicrobial additives in the packaging industry will witness considerable revenue growth at a CAGR of 7.1% from 2016 to 2025, as per Grand View Research. These additives are added to the plastic productsto prevent spoilage of food, beverages, and medicines due to microbial contamination. Moreover, the rising number of fast food chains and restaurants are anticipated to drive the demand for packaging thereby increasing product demand. In addition, the increasing usage of these additives in the paper for packing medicines and food will create immense growth opportunities over the forecast period. Antimicrobial Additives market size worth US$15.34 bln by 2025. Further key findings from the report suggest:
Antimicrobial additives market is estimated to be worth US$3.95 bln by 2021 amid huge demand from APAC, as per Research and Markets. The growth of the antimicrobial additives market is primarily triggered by its huge demand from the Asia-Pacific region and growing end-use industries such as healthcare, packaging, food & beverage, construction, and automotive. The government proposals in Asia-Pacific to improve public infrastructure and rising cash-intensive non-residential construction are driving the antimicrobial additives market. This, in turn, is contributing to the increasing demand for antimicrobial additives in the Asia-Pacific region. Silver-based antimicrobial additives are projected to grow with the highest CAGR between 2016 and 2021, amid higher demand owing to their non-toxic, environmental friendly and high thermal stability properties. Also, the increasing demand from various end-use industries such as healthcare, packaging, food & beverage, construction, and automotive is fueling the growth of the silver-based antimicrobial additives market. Since silver is the major type of antimicrobial additive, its growing demand drives the antimicrobial additives market. Research and Markets further states that the global antimicrobial additives market size is expected to reach US$15.34 bln by 2025. The growing demand for healthcare products such as medical devices and disposables in emerging economies including India and China will fuel growth over the forecast period. Furthermore, increasing awareness among consumers regarding hospital acquired infections (HAIs) is expected to propel the demand for products with antimicrobial properties further.
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