The antimicrobial packaging market size is predicted to reach USD 17,559.4 million by 2026, exhibiting a CAGR of 7.9% during the forecast period. The rising concerns regarding food quality and safety will spur demand for antimicrobial packaging, which, in turn, will boost the antimicrobial packaging market growth during the forecast period. Moreover, the rising focus of consumers towards quality products will aid the growth of the market in the forthcoming years.
In addition, the increasing awareness regarding the benefits of green packaging such material reduction, waste reduction, less energy consumption, recycled content and renewable energy source will boost the market trends for antimicrobial packaging, mentioned states Fortune Business Insights in a report, titled “Antimicrobial Packaging Market Size, Share Industry Analysis, By Material (Plastics, Biopolymers, Paper Paperboard, and Others), By Antimicrobial Agents (Organic Acid, Bacteriocins, and Others), By Type (Bags, Pouches, Trays, and Others), By Application (Food Beverages, Healthcare Pharmaceutical, Personal Care, and Others) and Regional Forecast, 2019-2026” the market size stood at USD 9,570.5 million in 2018.
Rising Demand for Medical Devices to Stimulate Growth in North America
North America is expected to grow rapidly during the forecast period owing to the growing adoption of antimicrobial packaging in various industries. The growing demand for drugs and medical devices will enable growth in North America. The market in Asia Pacific generated a high revenue in 2018 and is likely to witness high demand during the forecast period owing to the high demand for sustainable packaging from China, India, and South Korea. The rising consumption and demand of food will contribute positively to the growth in Asia Pacific. In addition, the blooming pharmaceutical and medical industry will have a positive impact on the market in Asia Pacific during the forecast period.