Antimicrobial Plastics Market Growth & Trends

The global antimicrobial plastic market size is expected to reach USD 44.1 billion by 2027, expanding at a CAGR of 8.2%, according to a report by Grand View Research, Inc. Increasing product demand from the packaging, healthcare, consumer goods, and a few other application industries is expected to propel market growth. Moreover, the rising complex epidemiological situation such as COVID -19, microbial contamination, nosocomial infections, Healthcare Associated Infections (HAIs) are expected to be a key driver for the market.

The healthcare segment witnessed high penetration and accounts for a majority of the revenue share in the market. This can be attributed to extensive demand for antimicrobial plastic for manufacturing sterilized and infection preventing products like surgical cables, tubing, and orthopedic sutures. In addition, growing health awareness among consumers, increasing old age population in countries such as Japan, China, and U.S., and rising demand for high-quality medical equipment is expected to drive the market.

In the food and beverage industry, antimicrobial plastics are widely used for food packaging. They are mainly used for killing pathogens that can contaminate food and beverage products. Pathogens adversely affect the color, texture, and nutritive value of food and beverage products; eventually making them non-edible. Antimicrobial plastic packaging prevents the penetration of undesirable substances such as water vapor and pressurized liquids, which, in turn, helps in enhancing food quality. Increasing consumption of baked goods and confectionery majorly in the developing countries owing to the gradual rise in household income and expansion of retail trade in packed products both from transnational and local companies is expected to propel the product demand in packaging segment over the forecast period.

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Central and South America, and Middle East and Africa. Asia Pacific held the largest market share in 2019 owing to the high demand from growing end-use industries. The increasing healthcare investments in countries, such as China India, Japan, Indonesia, and Vietnam, and rising focus on developing healthcare infrastructure, due to the growing aging population and increasing medical spending in the region is expected to propel market growth in the coming years.

Antimicrobial Plastics Market Report Highlights

  • The market is expected to witness significant growth over the forecast period owing to rising product demand from packaging and healthcare end use industries
  • The market in U.S. is anticipated to exceed USD 8.4 billion by 2027 owing to the growing demand for antimicrobial plastic from various end use industries
  • Asia Pacific is projected to witness the fastest growth over the estimated period owing to rising healthcare investment and growing product demand from the packaging sector in countries such as India, China, and Japan
  • Rapidly growing e-commerce, online food deliveries, and innovation and development in the packaging industry in APAC is also fueling product demand in the regional market.