The global cold plasma market valued USD XX million in 2019 and is estimated to reach USD XX million by 2027, growing at a CAGR of 15.7% during the forecast period (2020-2027)
Cold plasma, also known as non-thermal plasma is a partially ionized gas that exists in the state of non-equilibrium. It comprises of a mix of ions, ultraviolet photons, electrons and neutrals such as radicals. This reactive mix is capable of inactivating microorganisms including fungi, viruses, bacteria and spores, thus is widely used for ensuring safety and quality of food products and packaging applications. The technology evolved as the most promising food processing technology for use in sanitization or decontamination of fruits, vegetables and other processed foods. The composition and concentration of these plasma components vary significantly based on the source of plasma and thus can be designed for specific applications. Cold plasma is finding extensive use cases in a wide range of industries ranging from medical to food processing, automotive, aerospace, electronics and plastics. It is an important tool that is used to provide antimicrobial treatment for food and food processing materials. The innovation to develop the technology is designed to develop in-pack decontamination. Cold plasma technology provides post-packaging food non-thermal treatment. This growth of the market can be majorly attributable to the rising penetration of low temperature plasma technology in food and medical industries owing to rising awareness towards its benefits over other conventional chilling and chemical sanitization methods
Market Dynamics
Drivers
- Rising demand for food safety
- Benefits of cold plasma technology
Restraints
- High capital investment & Design Complexities
Benefits of cold plasma technology
The potential benefits of cold plasma technology over all other microbial control technologies is another key benefit driving the market penetration in wide range of industries
Cold plasma treatment evolved as the sustainable alternative to chemical-based chilling processes in farming. In plant species such as grapes, the lack of adequate cold duration affects the plant growth, thereby reducing the flowering, fruit maturation and overall yield. Growers have been following toxic chemicals to release the dormancy of grape buds. However, the process is not effective and friendly to the environment.
Low temperature plasma technology is environment friendly and highly effective over natural chilling and this is driving the use of cold plasma in farming practices.
Cold plasma has been widening its application spectrum in the medical industry from its typical use as skin disinfectant. The technology is gaining prominence in the treatment of wounds. In the medical industry, cold plasma evolved as an effective alternative to antibiotics, in that low temperature plasma is capable of killing bacteria in wounds that are resistant to therapeutics.
Several clinical studies presented the efficacy of low temperature plasma technology in killing multi-drug resistant bacteria and increasing the rate of wound healing. Thus, cold plasma is considered as a potential alternative to antibiotics in wound treatment
Geographical Analysis
Asia-Pacific cold plasma market is expected to grow with a highest CAGR of 19.9%, reaching USD XX million in 2027, from its recorded value of USD XX million in 2019.
The Asia-Pacific region saw the fastest growth, owing to the ongoing shift of electronic manufacturing to Asian countries, rising demand for decontaminated frozen food, expanding textile manufacturing facilities, and rising polymer production. China is estimated to lead the Asia-Pacific cold plasma market during the forecast period, owing to increasing infrastructure and economic activities. Escalating R&D investments in China’s healthcare sector is estimated to showcase a positive effect on the cold plasma market in this country. China is the world's largest producer of electronics. Smartphones, televisions, wires, cables, portable computing devices, gaming consoles, and other personal electronic devices grew at the fastest rate in the electronics sector. Not only does the country meet domestic demand for electronics, but it also exports its production to other nations.
The production of electronics in China is expected to grow as the middle-class population's disposable income rises and demand for electronic products increases in countries that import electronic products from China. With the growing electronics industry, the demand for cold plasma is expected to increase. However, currently, due to the COVID-19 outbreak, the economic activities and industrial manufacturing activities have been affected significantly in the country. On the bright side, as of April 2020, China has lifted the lockdown in the country and has started various industrial operations in the country. China's cold plasma market is expected to grow with a highest CAGR of 24.5% during the forecast period and contribute to 25% market share in 2019.
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