The antifog additives market is projected to record a CAGR of over 4% during the forecast period. Increasing demand for agricultural and food packaging films along with growing demand in the manufacturing of coating films for mirrors and protective eyewear are driving the market. Strict government policies and hazardous waste production at the time of film production act as restraints for the growth of market.
- The demand from food and beverages sector for packaging of processed food owing to prevent the packaged food from spoiling and formation of fog which reduces visibility is projected to propel the antifog additives market.
- Rapid urbanization, busy lifestyles and rising awareness about the benefits of using anti-fog additives have shifted focus towards packaged food which will stimulate the demand of anti-fog additives over the forecast period.
- Asia-Pacific holds the largest market share with highest demands coming from countries like India, China, and Japan.
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.
- 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.
- The revenue from food and beverage sector in countries namely, India and China are projected to show a CAGR of over 10% 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 gradual shifting of people toward packaged and processed food due to hectic lifestyles is expected to enhance the demand of antifog additives.
- The packaged food market in the region is expected to record a CAGR of over 3% and it is projected that the revenue from the market will hit USD 170 billion by 2025. This will create opportunities for the anitifog additives in the packaged food segment to grow during the forecast period.
- 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.
- 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.
- The major companies operating in the region are Emery Oleochemicals and Evonik Industries AG.
- The aforementioned factors along with the government support have helped in the growth of antifog additives market.
The antifog additives market is fragmented with players accounting marginal shares of the market. Some of the companies in the market are Clariant AG, A.schulman, Nouryon, Croda International PLC, and Emery Oleochemicals.
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