ID: MRFR/PNT/4102-HCR | February 2021 | Region: Global | 111 pages
Active and Intelligent Packaging Market is expected to value at USD 23.76 Billion during the forecast timeframe.
The increase in the demand for packaged goods, consumer convenience, manufacturers focus on the longer shelf life of the food products are active in the market. However, high implementation cost and huge investment in research and development for better products development are restraining the market growth. Recently, many manufacturers have started putting more efforts on the product development at lower cost and better quality. In 2016, the active and intelligent packaging market accounted for USD 15.11 billion.
Advancement in technology, innovative packaging alternatives, Availability of innovate products including food industry, is acting as a primary driver in the global active and intelligent packaging market. Some of the emerging packaging products are advanced time-temperature monitors, antimicrobial packaging, and other packaging products are anticipated to grow further during the forecast period.
Recent trend shows that increase in packaging companies focusing on expanding the shelf life and packaged food products being exported. Traditional packaging products failed to meet requirements of food products like meat and frozen foods. These constraints have given rise to new technologies which provide longevity and freshness to the food products.
Some of the key players in the global active & intelligent packaging market includes Amcor Limited (Australia), Ampacet Corporation (U.S.), Ball Corporation (U.S.), Bemis Company, Inc. (U.S.), Constar International Inc.(U.S.), Crown Holdings Incorporated (U.S.), W.R. Grace and Company (U.S.), Graham Packaging Company Inc.(U.S.), Klockner Pentaplast (Subsidiary Of Blackstone Group) (U.S.), Landec Corporation (U.K.), Mitsubishi Gas Chemical Company (Japan), and Rexam plc. (U.K.).
Growing role of government and other agencies to safeguard consumers on a global platform. Government agencies are accountable for setting food safety standards, conducting inspections, ensuring that standards are met, and maintaining a strong enforcement. The Food Safety Modernization Act (FSMA), enables the Food and Drug Administration (FDA) to better protect public health by strengthening the food safety system.
The Active and Intelligent packaging market is, therefore, witnessing a remarkable growth. Advances in printed electronics are boosting the potential opportunities for Active & intelligent packaging by lowering costs. Whereas, major challenges is rising prices of the commodities, Lack of willingness from consumers and retailers and Lack of marketing acting as a major restraint for the growth of the market.
The global active & intelligent packaging market is segmented by technology (oxygen scavengers, moisture absorbers, shelf life sensing, temperature indicators, and others), application (food & beverages, healthcare, personal care and others), and geography (The Americas, Europe, Asia Pacific and the Middle East & Africa).
The global market is segmented on the basis of geography: Asia Pacific, North America, Europe, and the Middle East & Africa. Regions such as North America and Europe are dominating the active & intelligent packaging market due to stringent legislation regarding food and beverage packaging and technological advances in the field of active packaging. Asia Pacific is expected to experience the fastest growth during the forecasted period due to the economic growth of China and India. The increasing demand for fresh and quality packaged food, consumer convenience, and manufacturers concern for the longer shelf life of the food products are providing an opportunity to the Asia Pacific region to grow further.
Packaging simplifies the storage and conveyance of goods, which plays a significant role in the functioning of various other industries such as food and beverage, pharmaceuticals and others. Improving standard of living and health awareness among consumers, growing consumption of packaged foods are some of the forces that have contributed in the growth of the packaging industry. Active & Intelligent packaging extend shelf life, monitor freshness, display information on quality, and improve safety and convenience. These are used in foods, pharmaceuticals, and several other types of products.
Smart packaging includes active packaging and intelligent packaging; wherein active packaging refers to the packaging functions beyond the inert, passive containment and protection of the product. Intelligent packaging suitable for inner atmosphere of the package and for shipping. This type of packaging designed for controlling humidity, absorbing odors and maintaining the right concentration of gases and moisture within the packaged products. Innovative forms of active packaging materials release controlled quantities of ethanol into bakery and meat products to control bacterial growth. Active packaging material depends on the type of food it is designed to preserve.
|Market Size||2027: USD 23.76 Billion|
|CAGR||Substantial CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Technology, and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Amcor Limited (Australia), Ampacet Corporation (U.S.), Ball Corporation (U.S.), Bemis Company, Inc. (U.S.), Constar International Inc.(U.S.), Crown Holdings Incorporated (U.S.), W.R. Grace and Company (U.S.), Graham Packaging Company Inc.(U.S.), Klockner Pentaplast (Subsidiary Of Blackstone Group) (U.S.), Landec Corporation (U.K.), Mitsubishi Gas Chemical Company (Japan), and Rexam plc. (U.K.)|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market expansion can take place at a robust pace in the years ahead.
The market size can expand at a value of USD 23.76 billion during the projection period.
The top players in the market include Amcor Limited (Australia), Rexam plc. (U.K.), Ball Corporation (U.S.), Bemis Company, Inc. (U.S.), W.R. Grace and Company (U.S.), Graham Packaging Company Inc.(U.S.), Constar International Inc. (U.S.), Crown Holdings Incorporated (U.S.), Mitsubishi Gas Chemical Company (Japan), Ampacet Corporation (U.S.), Klockner Pentaplast (Subsidiary Of Blackstone Group) (U.S.), Landec Corporation (U.K.), and others.
APAC can attain the fastest growth rate.
Technology-wise, the primary segments reported by MRFR are Temperature Indicators, Moisture Absorbers, Shelf Life Sensing, Oxygen Scavengers, and others.