A recent market research report by Research Dive has found the global packaging additives market is expected to reach $824.4m by 2030, growing at a CAGR of 4.6% from 2020 to 2030.
The report analyses the market size, share, growth factors, challenges, and opportunities in the packaging additives market.
Packaging additives are substances that are added to packaging materials to improve their performance, functionality, and aesthetics. They are widely used in the food and beverage, pharmaceutical, and consumer goods industries to enhance the shelf life of products, prevent spoilage, and improve the visual appeal of packaging.
The report cites the growing demand for packaged food and beverages, increasing adoption of sustainable packaging materials, and rising awareness about food safety and quality as key factors driving the growth of the market.
Challenges for packaging additives growth
However, the high cost of some additives and stringent regulations regarding their use may impede market growth.
Asia-Pacific is expected to dominate the global market, owing to the presence of a large number of manufacturers, rising population, and increasing demand for packaged goods.
Europe and North America are also expected to witness significant growth during the forecast period.
Key players operating in the global packaging additives market include Akzonobel N.V., Altana AG, Clariant AG, and Basf SE.
