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Packaging Additives Market Trends

Report ID: GMI8241
Published Date: Feb 2024
Report Format: PDF

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Packaging Additives Market Trends

One prominent trend is the escalating demand for sustainable and eco-friendly additives, reflecting a broader global emphasis on environmentally responsible practices. Consumers and regulatory bodies alike are pushing for packaging solutions that minimize environmental impact, leading to a surge in the development and adoption of bio-based additives, recyclable materials, and compostable packaging. Additionally, there is a growing focus on smart packaging technologies, with additives incorporating features such as temperature monitoring, freshness indicators, and tamper-evident measures.

As e-commerce continues to thrive, the packaging additives market is experiencing a trend towards protective solutions that ensure the safe transit of goods, safeguarding against damage and spoilage. Advancements in active packaging additives, such as antimicrobial agents and oxygen scavengers, contribute to extending the shelf life of products, addressing concerns related to food waste and product deterioration. Furthermore, the industry is witnessing a paradigm shift in consumer preferences, driving innovation in aesthetic-enhancing additives to enhance visual appeal and shelf presence.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of packaging additives reached USD 574 million in 2023 and is set to witness 4.4% CAGR from 2024 to 2032, owing to their role in addressing challenges faced by packaging manufacturers, including barrier protection and shelf-life extension.

The plastic packaging material segment accounted for 49% of the market share in 2023, due to its versatility, lightweight nature, and adaptability to various forms.

North America market generated a revenue of USD 197 million in 2023, led by the presence of a well-established packaging sector, a growing focus on sustainability, and technological advancements.

Altana AG, Arkema, Avient, BASF SE, Clariant, Flint Group, Henkel, Huber Group, Lubrizol Corporation, PPG Industries are some of the major industry contenders.