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The worldwide market for antimicrobial additives is expected to reach $15.34 billion by 2025, according to a new report.
Much of the growth is fuelled by growing consumer demand for antibacterial packaging.
Grand View Research, Inc. reports that the usage of antimicrobial additives in the packaging industry is expected to produce considerable revenue growth at a CAGR of 7.1% from 2016 to 2025. These additives are added to the plastic products to inhibit microbial contamination.
The rising number of fast food chains and restaurants are anticipated to drive the demand for packaging. In addition, the increasing usage of these additives in the paper for packing medicines and food will create growth opportunities over the forecast period.
The growing demand for healthcare products such as medical devices and disposables in emerging economies including India and China will also fuel growth.
Increasing awareness of hospital acquired infections (HAIs) is also expected to propel the demand for products with antimicrobial properties further.
The global antimicrobial additives market demand was 57.4 kilo tons in 2015 and is projected to grow significantly on account of swift healthcare expansion in emerging countries such as China, India, Brazil, Mexico, Singapore, Saudi Arabia and Thailand.
Europe accounted for 22.5% of the global volume share in 2015 and is anticipated to witness growth in light of rising consumer demand for antimicrobial packaging, healthcare, food and beverage and paints and coatings products over the upcoming years
Antimicrobial additives using silver ion technology are expected to witness significant volume growth at a CAGR of 8.3% from 2016 to 2025. The report says that the excellent antimicrobial properties along with low toxicity of silver will spur market demand in the future.
*Please note that Addmaster was acquired by the Polygiene Group AB in January 2021, so all news articles prior to that date will still be branded as Addmaster.