Packaging Additives Market Regional Analysis:
North America Market Statistics
North America industry is poised to account for largest revenue share of 34.3% by 2035. With e-commerce booming in North America, demand for durable packaging is increasing. During the projected period, the North America e-commerce packaging opportunity is anticipated to register more than USD 353.0 million. Packaging additives that enhance resistance to moisture, impact, and temperature fluctuation help products reach consumers safely, supporting growth in this sector.
The U.S. is augmenting the packaging additives market with its significant demand for processed foods. As busy lifestyles drive demand for processed and ready-to-eat foods, packaging additives that extend shelf life and preserve freshness are increasingly essential, supporting growth in this market. Ultra-processed food intake increased from 53% of total calories in 2011 to 57% by 2018, according to a CDC study conducted in America over 18 years.
Canada strong environmental policies drive demand for sustainable packaging. For instance, 70% of consumers in Canada indicate they look for goods with environmentally sustainable manufacturing when making purchases of sustainable foods. As companies seek biodegradable and recyclable additives to reduce environmental impact, eco-friendly packaging solutions are seeing significant growth.
APAC Market Analysis
The Asia Pacific region is established to garner substantial packaging additives market share over the forecast period. In the Asia-Pacific area alone, food and water safety-related factors claim the lives of around 700,000 people annually. Pertaining to this food safety becomes a priority in the region. Hence, packaging additives that prevent contamination and maintain freshness are gaining traction, especially with stricter food safety regulations in markets like Japan and South Korea.
China is committed to reducing plastic waste and promoting sustainability. This drives the demand for eco-friendly additives. With measures like the 2018 restriction on importing recyclable plastics, the deployment of large-scale urban waste sorting projects, and the 2022 ban on non-biodegradable single-use plastics, China has acted quickly to address the growing amount of garbage from food and beverage packaging. Biodegradable and recyclable packaging solutions are in high demand as companies work to meet government targets and consumer preferences.
India is creating lucrative investment opportunities for the packaging additives market due to technological advancements. Currently ranked as the fifth largest sector of the Indian economy, packaging is expected to reach USD 204 billion by 2025 at a compound annual growth rate (CAGR) of 26 %. Innovations in packaging additive technologies, such as UV-resistant and oxygen-scavenging materials, improve packaging functionality and quality. These advancements align with India’s evolving consumer demands, further supporting packaging additives market growth.
