According to Fortune Business Insights, the global antifog additives market size was valued at USD 358.3 million in 2022 and is expected to reach the valuation of USD 370.0 million in 2023. The market is expected to reach USD 514.2 million by 2030 with a CAGR of 4.8% during the forecast period. Rapid rate of urbanization has propelled the need for such additives as demand for consumer goods rises. Rise in the demand for packed food is expected to drive the market growth. Fortune Business Insights™ shares this information in its report titled “Antifog Additives Market, 2023-2030.”
Browse Detailed Summary of Research Report:
Ethoxylated Sorbitan Esters Led Due to High Demand for Fog-free Food Packaging and Agricultural Films
On the basis of type, the market is segmented into glycerol esters, polyglycerol esters, sorbitan esters of fatty acids, ethoxylated sorbitan esters, polyoxyethylene esters, and others. Ethoxylated sorbitan esters segment held the majority part in 2022 due to high demand for fog-free food packaging and agricultural films.
Food Packaging Films to Lead Due to Increasing Demand for Packed Food
Based on application, the market is segmented into food packaging films and agricultural films. Food packaging films segment is set to dominate the market due to increasing demand for packed food and the growing e-commerce industry. Rapid growth in these industries boosted the demand for packaging materials. The agricultural films segment growth is attributed to high demand for packed fresh vegetables, fruits, pulses, and other agricultural products.
Geographically, the market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Increasing Demand for Fog-free Polymer Films in the Food Industry to Drive Market Trajectory
Increasing demand for fog-free polymer films in the food industry is expected to drive the antifog additives market growth. They are widely used in the production of food packaging and agricultural films. They are used to decrease the lower surface tension allowing thin layer of hot or cold fog on the film surface. The demand for packed food is increasing rapidly owing to the busy lifestyle and changes in consumer behavior regarding food consumption.
However, government rules and regulations for plastic films production and consumption are anticipated to hinder market development.
Asia Pacific Led the Market in 2022 due to High Consumption of Packaged Foods
Asia Pacific dominated the antifog additives market share in 2022 due to demand for packaged foods and high consumption for the same. China and India are the leading producers of the agricultural products, which is further propelling the market growth. The region reached the valuation of USD 137.4 million in 2022.
The North America market is also expected to have prominent growth due to increased demand for packaged food owing to modern and busy lifestyle.
The Europe market is anticipated to have a moderate growth as consumers are becoming more and more aware and have started buying food products from e-commerce websites.
Croda International Plc Leads the Competitive Landscape with its Geographical Presence
Key players of antifog additives are Croda International Plc, Avient, LyondellBasell Industries Holdings B.V., SABO S.p.A., Emery Oleochemicals, Corbion, Evonik Industries AG, Polyvel Inc., Primex Plastics Corporation, and Palsgaard. These players have been offering new antifog additives to strengthen their market position. Croda International Plc leads the competitive landscape of the market with its presence in North America, Asia Pacific, Latin America, and the Middle East & Africa.
Key Industry Development
- October 2022- Emery Oleochemicals partnered with Sukano for the development and launch of the PET antifogging compound made from natural oils and fat.
List of Key Players Profiled in the Report
- Croda International Plc (K.)
- Avient (U.S.)
- LyondellBasell Industries Holdings B.V. (U.S.)
- SABO S.p.A. (Italy)
- Emery Oleochemicals (U.S.)
- Corbion (Netherlands)
- Evonik Industries AG (Germany)
- Polyvel Inc. (U.S.)
- Primex Plastics Corporation (U.S.)
- Palsgaard (Denmark)