Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
According to the report “North America Active, Smart and Intelligent Packaging Market by Application (Frozen processed food, Chilled processed food, Dried processed food, Dairy, Packaged food, Meat and poultry, Sea food), by Technology (Active Packaging, Modified atmosphere packaging, Intelligent Packaging), and by Region – Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the North America Active, Smart and Intelligent Packaging Market was worth USD 7.27 billion in 2016 and estimated to be growing at a CAGR of 5.51%, to reach USD 9.51 billion by 2021.
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Product packaging not only ensures a secure and safe reach to the end-user, but also quite strongly affects the way the product presentation is made to the consumers from the attractiveness perspective. The food and beverage packaging has largely shifted from traditional old-school packaging to advanced and smart packaging.
Traditional packaging only takes into consideration issues related to protection from factors which are external to it.
That is the reason for the manufacturers of food and beverages and packaging manufacturers that they are trying to find ways by which physical, chemical and microbial textures can be changed inside the packaged food.
Technological advancements like smart packaging, active and intelligent packaging, and modified atmosphere packaging are gaining over the traditional methods like canning. Moreover, smart and active packaging also makes bulk transportation easier.
With the recent advancements in technology, innovative packaging alternatives are now easily available for the manufacturers to enhance and improve their consumer outreach and gain more market share. The food industry in particular, which is at present booming, is the primary driver in the North America active, smart, and intelligent packaging.
Additionally, the growing requirement of packaging that can more effectively control gas and moisture, is among the foremost drivers.
North America advanced packaging technology market is experiencing an over-all growth due to the increasing demand for convenience food such as ready-to-cook meals, increased demand for sustainable packaging and stricter food safety regulations. Growing health awareness, food wastage concerns, and manufacturers’ concern for prolonged shelf life of the food products and supply chain inefficiencies are some other factors fuelling the growth of the market.
Furthermore, the consumers’ confidence with regards to packaged food, threat from bioterrorism, organized food safety regulations and increased applications in ready-to-eat meals and frozen foods have created a lot of opportunities for advanced packaging technology market.
The North America Active, Smart and Intelligent Packaging market is categorized by Application (Frozen processed food, Dairy, Packaged food, Chilled processed food, Dried processed food, Sea food and Meat and poultry). Based on Technology, the market is further segmented into Active Packaging, Modified atmosphere packaging and Intelligent Packaging.
The modified atmosphere packaging market had for the highest revenue in 2016 while Active and smart packaging technology is estimated to grow at the highest rate. On the basis of geography, the North America market is analysed under various regions namely Canada and United States.
Some of the major companies dominating the market are:
- Multisorb Technologies
- Sealed Air Corporation
- Amcor limited
- Ball Corporation
- Paksense Incorporated
- Eastman Chemical Company
- Timestrip PLC
- M&G USA Corporation
- Sysco Corporation.
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