Global Packaging Additives Market – Industry Trends and Forecast to 2030

Packaging Additives Market Analysis and Size

To enhance the performance, usability, and aesthetics of packing materials, some compounds are added. They are often employed in the food and beverage, pharmaceutical, and consumer goods sectors to extend product shelf lives, stop product deterioration, and enhance container aesthetics.  It's vital to remember that the availability of raw materials, technical breakthroughs, governmental restrictions, and environmental concerns all have an impact on the global market for packaging additives. The dynamics of the market can also be impacted by changes in the price of some additives like plasticizers and anti-oxidants.

Data Bridge Market Research analyses that the packaging additives market, which was USD  552.34 million in 2022, would rocket up to USD  786.68  million by 2030 and is expected to undergo a CAGR of 4.52% during the forecast period. “Antimicrobial agents” dominates the type segment of the packaging additives market because it destroys microorganisms or suppresses their multiplication or growth. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Packaging Additives Market Scope and Segmentation

Market Definition

To improve its tangible foundation, production, and preventative properties, packaging additives are added to synthetic organic polymer (Plastic) materials. Packaging additives have the power to modify polyamide and make it easier for makers of packaging to meet the demands of the personal care, cosmetics, beverage, food, and pharmaceutical sectors. The growing markets for consumer goods, including personal care products, food, and beverages, are expected to have a significant influence on the worldwide packaging additives industry.

Global Packaging Additives Market Dynamics

Drivers

• Increase in demand for packaged food products

Food that has been prepared in advance and packed to extend its shelf life is referred to as packaged food. The majority of packaged foods are considered convenience foods and are manufactured commercially before being distributed for consumer consumption. The idea of packaged food came about as a consequence of factors including simplicity in handling, preparation, and protection from outside meddling. Foods in packages are easy to handle, prepare, and consume. They are becoming more and more popular since urban inhabitants find them to be so useful in both developed and developing nations. Large consumer goods companies are increasing the number of packaged food launches as they attempt to take advantage of the growing demand for ready-to-cook meals, snacks, edible oils, pulses, and juices in light of the shift in consumer preference from unbranded to branded products since the pandemic's outbreak. A significant factor projected to drive the Packaging Additives Market during the forecast period is an increase in demand for packaged food items as a result of changing consumer lifestyles.

• Increased demands for excellent antimicrobial properties in various food products

These days, the food industry's top rising concerns are food preservation, quality control, and safety. It is clear that as time goes on, people will continue to want natural food items that adhere to strict safety standards in order to avoid infectious illnesses spread through food. In order to effectively impregnate the antimicrobial into the food packaging film material and then deliver it over the specified period of time to kill the pathogenic microorganisms affecting food products, antimicrobial packaging, which is thought to be a subset of active packaging and controlled release packaging, is one such promising technology. This increases the shelf life of food products by many folds.  

Opportunities

• The development of new functional additives

Furthermore, key manufacturers are focusing on research and development activities to develop new functional additives to meet growing market demand and extend profitable opportunities to the market players in 2023 to 2030. Additionally, the growing adoption of packaging additives in the personal care sector will further expand the future growth of the packaging additives market. 

Restraints/Challenges

• Fluctuating raw material prices

The profit margins of the additives producers are affected by the ongoing fluctuation in the price of raw materials like crude oil. Changes in environmental legislation have an effect on the market for additives. The end-user industries are heavily influenced by strict restrictions. The use of low-impact materials by European and North American firms in their attempts to limit VOC emissions has a detrimental effect on the expansion of the packaging additives industry.

This packaging additives market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the packaging additives market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.

Recent Development

• In September 2022, At K 2022, BASF debuted VALERAS for the first time as part of its line of plastic additives. By providing major sustainability advantages with additional technological solutions and services, VALERAS enhances the value of plastic applications. These include ways to hasten the transition of plastics to a circular economy and net zero emissions.
• In May 2021, three unique TPE formulations with antibacterial additives were added to the GLS TPE line by Avient Corporation. To safeguard molded plastic components, Avient's GLS TPEs with antimicrobial technology suppress bacterial growth by 99.9% (3-log) or higher and prevent fungal development. These additives safeguard plastic components that have been molded by suppressing bacterial development and resisting fungal and mold growth. They have been tested in line with JIS Z2801 and ASTM G21-15 standards.

Global Packaging Additives Market Scope

The packaging additives market is segmented on the basis of additive type, substrate, packaging type, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Additive Type

• Antimicrobial Agents
• Anti-Fog Agents
• Antistatic Additives
• Clarifying Agents
• Oxygen Scavengers
• UV Stabilizers
• Others.

Packaging Type

• Rigid
• Flexible
• Others

Substrate

• Plastics
• Metals
• Paper & Paperboards
• Others

Application

• Food Applications
• Fresh Food
• Chilled Food
• Frozen Food
• Dairy Products
• Baked Goods
• Snack Foods
• Confectionery
• Dried Foods
• Other Human Food
• Pet Food
• Beverages
• Cold Beverages
• Hot Beverages
• Pharmaceuticals & Health Care
• Cosmetic & Personal Care
• Others

Global Packaging Additives Market Regional Analysis/Insights

The packaging additives market is analysed, and market size insights and trends are provided by country, additive type, packaging type, substrate, and application, as referenced above.

The countries covered in the packaging additives market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.

North America is expected to dominate the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2023-2030. The presence of aerospace and defense equipment in this area, together with other supporting infrastructure, is credited with driving market expansion.

On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2023-2030 due to the establishment of assembling facilities for aircraft in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Packaging Additives Market Share Analysis

The packaging additives market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the packaging additives market.

Some of the major players operating in the packaging additives market are:

• Akzo Nobel N.V. (The Netherlands)
• ALTANA AG (Germany)
• Arkema (France)
• BASF SE (Germany)
• Verdict Media Limited (U.K.)
• Avient Corporation (U.S.)
• Flint Group (Luxembourg)
• Henkel AG & Co. KGaA (Germany)
• HuberGroup India Private Limited (India)
• The Lubrizol Corporation (U.S.)
• PPG Industries, Inc. (U.S.)
• Sun Chemical (U.S.)
• The Sherwin-Williams Company. (U.S.)
• Wacker Chemie AG (Germany),

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