Antimicrobial Plastics Market Trends

Growth Drivers

• Worldwide Rising Consumption of Bottled Drinking Water – As a result of increased travelling, sporting, and keeping the body hydration on a right point, the demand for bottled water has increased a lot. Bottled water is an important alternative to other packaged beverages, which are often less healthy. For instance, in 2020, Americans consumed approximately 16 billion gallons of bottled water, that denotes a 4% increase over 2019.
• Rising Consumer Health Awareness - For instance, on a regular basis, nearly 49% of global consumers made proactive health and wellness choices by 2021.
• Growth in Textile Industry – As per the data, the global textile industry is predicted to grow at a rate of 4 to 6% per year for the upcoming few years and is estimated to be worth around USD 1.7 trillion.
• Escalation in Beverage Industry - The beverage industry in the United States is estimated to be worth USD 145 billion by the mid of 2022.
• Upsurge in Urbanization – As per the United Nations, around 55% of the world’s total population was living in urban areas by the end of 2018, and this percentage is expected to rise to 68% by 2050.

Challenges

• Stringent Laws of Government Over Plastic Use – The improper discarded plastic in the form of packets or bags pollutes the waterways, clog sewers and also affecting the ecology of marine creatures in drastic way. Every year, massive amounts of plastic garbage end up in the oceans, posing risks to marine life and disrupting the marine food chain. Hence, government of various nations have imposed strict laws over plastic use which is expected to hinder the growth of antimicrobial plastics market over the forecast period.
• Availability of Raw Materials for Antimicrobial Plastics
• Instability in Raw Material Prices