DUBLIN--(BUSINESS WIRE)--The "Antifog Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Antifog Additives Market is projected to register a CAGR of more than 4% during the forecast period (2021-2026).
Companies Mentioned
- Avient
- Corbion
- Croda International PLC
- Dupont
- Emery Oleochemicals
- Evonik Industries AG
- LyondellBasell Industries Holdings B.V.
- Palsgaard
- PCC Chemax, Inc.
- Tosaf
Key Market Trends
Increasing Demand from Films Production Sector
- Growing population, degrading soil quality, scarcity of food and agricultural organizations focus toward increasing the crop yield and quality are expected to propel the demand for antifog additives over the forecast period.
- The agriculture industry has been benefited by the usage of antifog additives for producing agricultural films owing to improved light transmission leading to better plant growth, earlier crop maturity and higher crop yield per plant.
- According to IBEF, Essential agricultural commodities export increased by 43% to reach USD 7.3 billion during the period of April to September 2020 compared to USD 5.1 billion during the same period in 2019.
- Antifog additives also help in reducing the burning of plants and crop spoilage, which is leading to increasing demand in the agricultural films sector.
- Increasing sales of packaged foods have led to the growth of antifog additives demand as the product helps in maintaining its clarity and transparency so that the contents of the packaged item can be clearly seen by the customer.
- In North America, the United States is the largest consumer of packaged goods, followed by Canada and Mexico. The changing trends in consumer behavior and manufacturers' easier convenience are resulting in a faster growth of the packaging market in the country. In the United States, the packaging market is estimated to be worth USD 280.3 billion in 2022. United States packaging market is estimated to witness a CAGR of about 3.5%, in terms of revenue, during 2021-2026.
- The revenue from the global food and beverage industry is expected to reach over USD 276 billion in 2021. The revenue is expected to show an annual growth rate of over 8.2% and is projected to reach over USD 379 billion by 2025.
- The revenue from food and beverage sector in countries namely, India and China are projected to show a CAGR of over 10% and 8%, respectively which is expected to stimulate the demand of antifog additives market.
- Owing to the aforementioned factors, the antifog additives market is expected to grow rapidly over the forecast period.
Asia-Pacific Region to Dominate the Market
- The growing awareness about the benefits of using antifog additives in food and agricultural packaging in countries of Asia-Pacific particularly in India, China, and Japan, has propelled the antifog additives market.
- The availability of large arable land in countries like China and India, and increasing adoption of technological advancements in agriculture to yield high-quality crops will stimulate the market growth of antifog additives.
- Further, the gradual shifting of people toward packaged and processed food due to hectic lifestyles is expected to enhance the demand of antifog additives. According to Interpak, in China, in food stuff packaging category, total packaging is expected to reach 447 billion units in 2023.
- The strict rules and regulations imposed by the governments of countries like India and China have changed the market dynamics and has increased the focus on using antifog additives for food packaging and processing.
- India is one of the major consumers of packaged foods and beverages. According to the Packaging Industry Association of India (PIAI), the packaging industry is expected to grow at a rate of 22% during the forecast period. However, this growth was affected during 2020, due to the halted manufacturing activities in the first quarter of 2020.
- The demand for frozen foods in India is expected to witness a growth rate of approximately 17% in the next few years. Moreover, with the Indian government focusing on the food processing sector, the supply of processed agri-foods is expected to rise over the next five years, which, in turn, may stimulate the demand for antifog additives in the country.
- According to IBEF in India, 55% of the packaging is done in plastics dominating the food packaging market among which PVC films are widely used
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand in Agricultural and Food Packaging Films
4.1.2 Growing Demand In Making Coating Films for Mirrors and Goggles
4.2 Restraints
4.2.1 Fluctuation in Prices
4.2.2 Hazardous Waste Production During Film Production
4.2.3 Negative Impact of COVID-19 Pandemic
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.2 Application
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Awareness About Usage of Antifog Additives in Processed Food
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/68pr8g
