Active and Intelligent Packaging Market Insights and Industry Analysis by Technology (Oxygen Scavengers, Moisture Absorbers, Shelf Life Sensing, Temperature Indicators, And Others) By Application (Food & Beverages, Healthcare, Personal Care And Others) And Region, Competitive Market Size, Share, Trends, and Forecast to 2028
New York, USA, June 27, 2022 (GLOBE NEWSWIRE) — Active and Intelligent Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Active and Intelligent Packaging Market Information by Technology, Application, and Region – Forecast till 2028”, the market is estimated to grow at a 6.51% CAGR to reach USD 26.8 Billion by 2028.
Active and intelligent packaging is anything from anti-microbial linings and moisture reduction sachets to physical shock indicators and allergen sensors. The products, especially perishables, offer higher transparency to both the consumers as well as the enterprises.
Intelligent packaging solutions find widespread use in the pharmaceutical industry for improving the traceability of the products. These types of packages allow easy access to the extensive information about the medicine via smartphone scanning.
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|2028 Market Size||USD 26.8 Billion|
|Forecast Units||Value (Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||An increase in urban population along with elevated lifestyles|
|Increased disposable income has resulted in a major increase in the ready-to-eat, frozen|
Market Competitive Landscape:
The important vendors in the active and intelligent packaging market include
- R. Grace and Company (U.S.)
- Ampacet Corporation (U.S.)
- Ball Corporation (U.S.)
- Graham Packaging Company Inc. (U.S.)
- Rexam plc. (U.K.)
- Amcor Limited (Australia)
- Landec Corporation (U.K.)
- Bemis Company, Inc. (U.S.)
- Constar International Inc. (U.S.)
- Mitsubishi Gas Chemical Company (Japan)
- Crown Holdings Incorporated (U.S.)
- Klockner Pentaplast (Subsidiary Of Blackstone Group) (U.S.)
Market USP Covered:
The active, and intelligent packaging market can expect robust growth in the coming years on account of the rising demand for specialty covering that helps retain freshness as well as the nutritional value of the products at reasonable prices. Advanced transportation facilities can foster global trade, which in turn will leave a tremendous impact on the worldwide market.
Burgeoning urban population combined with their evolving lifestyles has bolstered the demand for ready-to-eat, frozen, and packaged food. Heightened preference for exotic vegetables and fruits, frozen products and meat, worldwide owing to the surging trade practices has elevated the demand for specialty packaging. The changing trend from conventional to smart packaging systems, which address external and internal aspects of content protection, will propel market demand. Active packaging helps protect the product, while intelligent systems give access to additional details on the cover in non-electronic or electronic forms.
Soaring number of convenience stores and the technically innovative points of sales has fostered the need for intelligent systems as well. Decline in tracking time as well as effective product monitoring will enhance the appeal of active, and intelligent packaging systems in the future as well.
Significant implementation costs due to the massive spending on R&D can restrain the market demand in the years to come. Surging raw material costs add to the cost of application as well, which is then transferred to the buyer. This could hamper the growth rate of the active, and intelligent packaging market in the long run.
Browse In-depth Market Research Report (111 Pages) on Active and Intelligent Packaging https://www.marketresearchfuture.com/reports/active-and-intelligent-packaging-market-5550
COVID 19 Analysis
The active and intelligent packaging market has been significantly affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under a lockdown, to control the rising cases. Owing to this, the demand and supply chain have been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials and the COVID-19 pandemic have restricted the growth rate of the market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth.
Moisture absorbers, oxygen scavengers, temperature indicators, and shelf-life sensing are the key technologies considered in the report.
Healthcare, food & beverages, and personal care are the application-based segments in the study.
Every year, nearly one-third of the food products are wasted worldwide. The UN Food and Agriculture Organisation reveals that consumers throw away over 2.4 billion tonnes of food products intended for consumption every day. In terms of loss, that represents over USD 950 billion and is more than thrice in developed countries in comparison with developing countries.
These instances accelerate the relentless development of active and intelligent packaging in the food sector, to keep the contents’ freshness intact.
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North America could expect to be the market leader in the following years given the stringent legislation with regard to beverage and food packaging and the subsequent rise in the demand for advanced systems. In terms of growth, Europe is right behind North America, considering the surging consumer awareness coupled with the escalating preference for sustainable packaging systems. In North America, constant focus on product innovation is the ongoing trend in the active, and intelligent packaging industry. The rapid shift from conventional to smart wrapping systems is attracting the attention of the companies, compelling them to enter the market. This forces the established players to come up with cost-effective and efficient wrapping solutions to remain relevant in the regional market.
The European Federation of Pharmaceutical Industries and Association says that every year, the region generates over 1.18 billion vaccines, with Germany being the biggest developer of pharmaceutical supplies. The rapid growth in pharmaceutical drugs, as well as vaccines developed in Germany, has bolstered the need for active, and intelligent packaging in the country. The stringent sanctions implemented by the government for proper labeling of every medicinal drug to prevent drug counterfeiting in the pharmaceutical sector favors the market as well.
Asia Pacific could experience the fastest growth in subsequent years, thanks to the rising disposable income of the consumers and their changing lifestyles, especially in China and India. The huge food demand in view of the expanding population will have a tremendous impact on the active and intelligent packaging industry.
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