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Active and intelligent packaging market set to grow according to forecasts

Active and intelligent packaging market set to grow according to forecasts

The active and intelligent packaging market was valued at USD 17.11 billion in 2016 and is expected to reach a value of USD 25.66 billion by the end of 2022, growing at a projected CAGR of 8.44% during the forecast period of 2017 – 2022.

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Food packaging has no longer just a passive role in protecting and marketing a food product. New concepts of active and intelligent packaging play an increasingly important role by offering innovative solutions for extension of the shelf-life or to maintain, improve or monitor food quality and safety.

North America is the leading market for packaging automation with the United States occupying the lion's share in the region. Asia-Pacific and Latin America regions are the fastest growing regions for active and intelligent packaging market.

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With the escalating levels of population growth, a huge burden is being placed on the food industry. To meet these requirements, an increasing number of countries and enterprises are exporting their food products across the world.

Traditional packaging products cannot meet the requirements of food products such as meat and other frozen foods. Hence, new technologies like the active and intelligent packaging which promote longevity and freshness in the food products are expected to grow significantly.

The research published on active and intelligent packaging covers different technologies such as pure absorbers, oxygen scavengers, moisture/humidity absorbers, odor absorbers/emitters, anti-microbiological packaging and others.

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DRIVERS

Changing lifestyle of people, demand for packaging solutions with longer sustainability, demand for fresh and quality food are the major drivers for the growth of this market. Further, increase in counterfeit products in developing countries has also compelled companies to use technologies like RFID during packaging.

RESTRAINTS

Issues regarding the effect of packaging materials on the human body, security and privacy issues in case of intelligent packaging systems are expected to be major challenges for the market's growth over the next five years.

The study explains the situation of active and intelligent packaging market, and shows its application in the end-user markets such as frozen food, packaged food, dairy products and others along with accurate market metrics. The study elaborates that currently, the active and intelligent packaging market size is the highest for frozen food followed by packaged foods.

Dairy products and frozen foods have the maximum CAGR of 13.00 % and 8.07 % respectively.

Lastly, the report is divided by geography - North America, Europe, the Asia-Pacific (APAC), Latin America and the Middle East & Africa; wherein the market share of each region is analyzed and estimates are provided for the next five years. The various applications of active and intelligent packaging have been discussed in detail in addition to a comprehensive overview of the market.

Some of the key players mentioned in the report are BASF, Amcor Limited, Landec Corporation, Bemis, Rexam Plc and Sonoco.

Read more details of the report at: Global Active and Intelligent Packaging Market

Key Deliverables in the Study

  • Market analysis for the global active and intelligent packaging market, with region-specific assessments and competition analysis on a global and regional scale.
  • Market definition along with the identification of key drivers and restraints.
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
  • Extensively researched competitive landscape section with profiles of major companies along with their market share.
  • Identification and analysis of the macro and micro factors that affect the global active and intelligent packaging market on both global and regional scale.
  • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
  • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
  • Insights into the major countries/regions where this industry is growing and also identify the regions that are still untapped.

 

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