Global Colloidal Silver Market: Overview
Colloidal silver is a preparation that mixes silver particles into a colloidal base. Silver is used mainly for the antimicrobial properties it exhibits. It kills bacteria, viruses and fungi alike and is useful as an antimicrobial dressing and as additive to foods and beverages before they are packaged. Also, personal care products that are applied to the skin make use of silver as it gives added protection against microbes.
It is pertinent to note here that as the world is moving towards traditional, organic medicines, demand for colloidal silver will grow. Additionally, chemical pharmaceuticals are losing demand by an increasing number of people for their side effects on the individual as well as the environment. As per Transparency Market Research, this will lead the global colloidal silver market on a steady growth trajectory over the forecast period of 2020 to 2030. This will not only add to the valuation of global colloidal silver market but also to existing opportunities, creating new avenues of growth. Players are expected to capitalize upon these over the stated forecast period.
Global Colloidal Silver Market: Key Trends and Drivers
The incidence of infectious diseases stays high globally, more so in developing countries. The World Health Organization estimates that more than 17 million people are killed annually by these diseases. Also, 30 new diseases have appeared in the last 20 years. This calls for an increased usage of antimicrobial therapy, of which silver dressings are an important part. Thus, the colloidal silver market is anticipated to grow steadily in the future.
More food is being packaged around the world than ever owing to an increased demand for exotic food items by regional populations. The packaged food industry is due to grow by at a moderate pace over the next few years. Colloidal silver is added to packed food to prevent bacterial growth. This is set to fuel demand for colloidal silver in the future.
The personal care industry too is expecting to grow at an impressive rate over the next 4 years. Silver is now being added to products of this industry as the demand for organic compounds in personal care products rises.
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Global Colloidal Silver Market: Regional Analysis
The Asia Pacific region (APAC) is expected to register the maximum growth in this market owing to a rising awareness about traditional medicines. Indian medicine has used silver impregnation since ages, and this trend is coming back. Moreover, as the food packaging industry gains a strong foothold in this region, this is set to give further impetus to the colloidal silver market.
North America should show steady growth in the future owing to high expenditure by people on personal care in this region. Europe has recently restricted the usage of colloidal silver in food products, and hence is expected to witness reduction in demand for this product.