February 2019: Adroit Market Research recently launched a study on, “Global Packaging Additives Market Size 2018 By Type (Antimicrobial Agents, Oxygen Scavengers, Anti-Fog Agents, Antistatic Additives, Clarifying Agents, UV Stabilizers, and Others), By Packaging Type (Rigid Packaging, Flexible Packaging, Others), By Applications (Beverages, Food, Healthcare, Cosmetics and Personal Care), By Region With Forecast 2018 to 2025”. The report includes global packaging additives market estimates and forecasts from 2015 to 2025 where 2015-2017 denotes historic data and forecast from 2018-2025. The report also highlights market drivers, restraints and their impact. The global packaging additives market share for the different types, packaging types, and applications has been discussed till the country level.
By 2025, the global packaging additives market size is estimated to cross USD 1 million by driven by demand for low-cost innovative solutions and better quality packaging materials requirement. However, the strict government regulations to use environmentally friendly packaging additives in order to minimize the damages to the environment is expected to hinder the growth of the global packaging additives market.
The oxygen scavengers market is expected to grow with the highest CAGR of 4%, in terms of volume, over the forecast period due to its advantages such as maintaining the quality of the packaged goods and improve the shelf life of the same. Clarifying agents are also likely to witness significant growth over the forecast period within the global packaging additives market with an estimated demand at 7.4 kilo tons by 2025.
The rigid packaging market was valued at USD 577.2 million in 2017 and the demand for it is expected to flourish due to the increasing demand of bioplastics, reusable plastics and strong barrier protection for bottles, cans, boxes among others. Increasing packaging regulations for labeling coupled with the enhanced aesthetic appeal of these rigid plastic packages is expected to subsequently drive the global packaging additives market over the projected period.
In 2017, the food segment accounted for more than 25 kilo tons of the global packaging additives market size and a similar trend is expected to witness in the forecast period. The food and beverage industry is growing in developing countries such as India and China among others due to growing disposable income and changing lifestyle patterns.
In 2017, Asia Pacific accounted for more than 35% of the global packaging additives market share and is expected to emerge as the most lucrative market by 2025. In Asia Pacific, India is expected to grow with the highest CAGR over the forecast period. China also holds a lucrative opportunity for the growth of the packaging additives market size. For instance, BASF, a U.S. based company and the world’s leading supplier and manufacturer of plastic additives, announced in 2016, plans to invest EUR 200 million globally to increase its production capacity. Also, the company is investing in building a new plastic additives plant in China, has an annual production capacity of 42,000 tons which would help the company to leverage the significant growth opportunities in the region which is being driven by growing applications such as consumer goods, automotive, construction among others.
BASF SE, ALTANA, Arkema Inc., MHM Holding GmbH, ADEKA CORPORATION, SONGWON, Amcor Limited, Addivant, DuPont, DIC CORPORATION, Flint Group, and Clariant AG are the leading players present within the global packaging additives market. In order to gain market share, the manufacturers are adopting M&A strategy. For instance, in April 2018, DowDuPont announced to invest USD 100 million to expand manufacturing capacity in Texas. The investment will help the company to grow its business of packaging & specialty plastics in the region.
Key segments of the global packaging additives market
Type Overview, 2015-2025 (USD Million) (Tons)
- Antimicrobial Agents
- Anti-Fog Agents
- Antistatic Additives
- Clarifying Agents
- Oxygen Scavengers
- UV stabilizers
Packaging Type Overview, 2015-2025 (USD Million) (Tons)
- Rigid Packaging
- Flexible Packaging
Application Type Overview, 2015-2025 (USD Million) (Tons)
- Pharmaceutical & Healthcare
- Cosmetics & Personal Care
Regional Overview, 2015-2025 (USD Million) (Tons)
- North America
- Central & South America
- Middle East and Africa