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According to Fortune Business Insights, The global antimicrobial packaging market size was valued at USD 10.55 billion in 2021 and is projected to grow from USD 11.08 billion in 2022 to USD 17.25 billion by 2029, exhibiting a CAGR of 6.52% during the forecast period.

This information has been furnished by Fortune Business Insights™ in its research report, titled “Antimicrobial Packaging Market, 2022-2029”.

The antimicrobial packaging industry involves the development and production of packaging materials and technologies that incorporate antimicrobial agents to inhibit the growth of microorganisms such as bacteria, fungi, and viruses. This type of packaging is designed to help extend the shelf life of products, maintain their quality and safety, and reduce the risk of contamination.

Information Source:

https://www.fortunebusinessins....ights.com/antimicrob

Thermoformed Plastics Market Size, In-Depth Qualitative Insights, Explosive Growth Opportunity, Regional Analysis by Fortune Business Insights
The global thermoformed plastics market size is expected to reach USD 59.74 billion by 2027, exhibiting a CAGR of 5.7% during the forecast period. The growing awareness about hygienic packaged food products is expected to foster healthy growth of the market, states Fortune Business Insights, in a report The market size stood at USD 40.59 billion in 2019.


Market Driver:

Significant Demand for Packaged Food to Enable Growth

The increasing demand for packaged food owing to the evolving habits of consumers will foster the healthy growth of the market. The increasing income and expenditure are factors expected to contribute positively to the market growth. The high-barrier properties, extended shelf-life, contamination prevention of thermoformed plastics make it suitable for food packaging, thus boosting the growth of the market. Moreover, the growing need for sturdy packaging in convenience foods products will spur demand for such plastics. The surging population has resulted in increasing food production to cater to the needs of consumers, in turn aiding the growth of the market. The increasing urbanization in rural areas will have a positive effect on the market. The infrastructural development and technological advancements in packaging techniques will bolster the significant growth of the market.

Disturbed Production of Plastics to Impede Business Amid Coronavirus

The declined plastic production and supply is expected to have a drastic impact on the global market. The closed manufacturing facilities due to lockdown imposed by governments will aggravate the business in the forthcoming years. The disruption caused by the pandemic has severely affected the supply chain of dairy products, medicines, sanitizers, food, disinfectants, face masks, and others. However, the improving situation will urge governments to lift lockdowns, in turn, stabilizing the manufacturing sector and promoting the market.

Regional Analysis:

Prospering Healthcare Sector to Aid Growth in North America

The market in North America is expected to experience a high growth rate during the forecast period owing to the rapid industrialization and technological advancements in the packaging industry. The growing demand for medicines and drugs in the healthcare sector will contribute excellently to the market. The evolving consumer lifestyle and disposable income will favor the healthy growth of the market in the region. Asia Pacific is expected to hold a considerable share during the forecast period owing to the growing polymer formulations in developing nations such as China and India. China is the largest supplier of plastics products. The rapid urbanization and improved living standard of people can have a tremendous effect on the market in the region. Moreover, the growing automotive and construction sector is likely to fuel demand for thermoformed plastics in the region.

Information Source:

https://www.fortunebusinessins....ights.com/thermoform