Packaging Additives Market- Global Industry Analysis and Forecast (2023-2029)

Packaging Additives Market reached a value of US$ 5.22 Bn. in 2022. Antifog Agent is one of the dominating segment of the Global Packaging Additives Market.
Packaging Additives Market Overview:
The Packaging Additives are added to plastics, polymer, and resins to improve their properties. They are highly demanded to refine diverse properties such as mechanical properties and the strength of plastic resins. Packaging additives are also used to guard against light exposure, outer moisture, oxygen, and microorganisms. Paperboard, pulp, plastic, corrugated boxes, and bio-polymers are among the packaging materials. Packaging additives are anti-oxidants, stabilizers, and plasticizers that are added to such materials. The type of packaging utilized affects the product's performance, quality, and shelf life.To know about the Research Methodology :- Request Free Sample Report
Packaging Additives Market Dynamics:
Plastic additive demand is expected to rise significantly as manufacturers look for innovative lower-cost solutions, which these additives provide. Plastic usage regulations are becoming more severe by the day, and countries all over the world are adopting stricter regulations to protect the environment. The demand for higher-quality packaging materials, as well as the significant benefits provided by these additives, is expected to propel this industry during the forecast period.

Polymers are widely used in the packaging industry, with polyolefins being the most widely used polymer across the globe. In packaging, several additives are used to improve processing and manufacturing performance, while others enable materials to have a blend of improved features. These benefits of the product are expected to drive market growth during the forecast period.

Increased demand for packaged food products as a result of changing consumer lifestyle is a key factor expected to boost the packaging additives market during the forecast period. Because of their excellent antimicrobial characteristics, packaging additives are widely used in a variety of food products. In addition, an increase in demand for the product for energy and aerated drinks is fueling the packaging additives market growth across the globe.

The Global Packaging Additives market is driven by increased demand from end-user sectors. Rapid urbanization and population growth also contribute to market growth across the globe. However, fluctuating raw material prices and strict government regulations, regarding governing the plastic additives business stifle its growth. Furthermore, during the forecast period, packaging additives makers are expected to confront a major issue in disposing of plastic waste. Nonetheless, the development of new functional additives is anticipated to be a significant market growth opportunity.
Packaging Additives Market Segment Analysis:
Based on the Type, the Packaging Additives Market is segmented into Antioxidants, UV Stabilizers, Antifog agent, Clarifying Agent, and Others. The Antifog agent type segment held the largest market share accounting for 44% in 2022. The increasing demand for Antifog agent additive films from the food packaging and agricultural sectors, as well as the rising demand for packaged food items, are major factors fueling the market's expansion. Antifog agents are usually available in the form of creams, spray solutions, gels, and wet wipes, and are preferable used during the production process itself. Anti-fogging additives can be added to plastics and can move out from the plastic's inner side.

Based on the Application, the Packaging Additives Market is segmented into Food and Beverage, Pharmaceutical and Healthcare, Cosmetic and Personal care, and Others. The Food and Beverage application segment held the largest market share, accounting for 71% in 2022. The segment growth is attributed to the rise in demand for fast food products across the globe. The growth in the food industry is expected to fuel the demand for high-performance packaging additives during the forecast period for this segment.

The Cosmetics and Personal care segment is expected to witness significant growth at a CAGR of 5.48 % during the forecast period. The segment growth is attributed to changing lifestyles of consumers and the increasing per capita income of people across the globe.
Packaging Additives Market Regional Insights:
Asia Pacific region held the largest market share accounted for 34.8% in 2022, and is expected to grow at a CAGR of 4.91% during the forecast period. The high presence of manufacturers using packaging additives in China, Japan, and India is expected to fuel the packaging additives market growth in the Asia Pacific during the forecast period.

North America region is expected to witness significant growth at a CAGR of 5.41% during the forecast period. The major population in the U.S. is dependent on fast food and ready-to-eat products, which boost the product demand for antimicrobial packaging additives over the forecast period in this region. The increasing investments in packaging and polymer industries are expected to fuel the demand for high-quality packaging additives in Europe region.

The objective of the report is to present a comprehensive analysis of the Packaging Additives Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Packaging Additives Market dynamic, structure by analyzing the market segments and projecting the Packaging Additives Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Packaging Additives Market make the report investor’s guide.
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Packaging Additives Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 5.22 Bn.


Forecast Period 2023 to 2029 CAGR:
5.71%
Market Size in 2029:
US $ 7.71 Bn.


 Segments Covered:
by Type
• Antioxidants
• UV Stabilizers
• Antifog agents
• Clarifying Agent
• Others


by Application
• Food and Beverage
• Pharmaceutical and Healthcare
• Cosmetic and Personal care
• Others



Packaging Additives Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Packaging Additives Market Key Players
• BASF SE
• Songwon Industrial Co. Ltd
• Cytec Solvay Group
• Clariant
• Addivant
• Adeka Corporation
• AkzoNobel
• Altana AG
• Du Pont De
• Amcor
• Arkema
• Colormatrix Group
• Henkel
• Flint Group
• Lubrizol Corporation
• PPG Industries Inc.
• Sun Chemical Corporation
• Huber Group
• Wacker Chemie AG
• Valspar Corporation

Frequently Asked Questions:

1. Which region has the largest share in Global Packaging Additives Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Packaging Additives Market?
Ans: The Global Packaging Additives Market is growing at a CAGR of 5.71% during forecasting period 2023-2029.

3. What is scope of the Global Packaging Additives Market report?
Ans: Global Packaging Additives Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Packaging Additives Market?
Ans: The important key players in the Global Packaging Additives Market are – BASF SE, Songwon Industrial Co. Ltd, Cytec Solvay Group, Clariant, Addivant, Adeka Corporation, AkzoNobel, Altana AG, Du Pont De, Amcor, Arkema, Colormatrix Group, Henkel, Flint Group, Lubrizol Corporation, PPG Industries Inc., Sun Chemical Corporation, Huber Group, Wacker Chemie AG, and Valspar Corporation

5. What is the study period of this Market?
Ans: The Global Packaging Additives Market is studied from 2022 to 2029.