ID: MRFR/PNT/4102-HCR | February 2021 | Region: Global | 111 pages
Active and Intelligent Packaging Market was valued at a reliable market value that accounts for USD 16.1 Billion during the historic forecast period that had ended in 2019. For the ongoing forecast period of 2021-2028, the global active and intelligent packaging industry is projected to grow at a CAGR of 6.51% and hence, reach a final market value worth USD 26.8 Billion by 2028, over the forecast period.
The global active and intelligent packaging market share is anticipated to grow on account of the increasing need for specialty covering to retain shelf life, followed by the increasing degree of freshness, and nutritional value of the products at reasonable prices that are added by the market products and services for the global target audience during the ongoing forecast period that will be ending in 2028.
Since the initial cases of the novel coronavirus were reported, the global market, participating industries, companies, manufacturing, and production units have been careful in operating as per the set norms to meet the demand of the market. However, during the outbreak and these unfortunate times, there are newly found challenges. These are likely to impose various other restrictions and further, disrupt the management and smooth running of the supply chain system. This is hampering also the market operations. Also, the declining degree of demand of the target audience in the forecast period of 2021-2028 is a major concern and hence, might lead to a differentiation in the predicted values and the actual ones by the market experts. The temporary and permanent lockdown imposition by the global governments is adding to the challenges for the market on its growth path. Also, the functional market restrictions pose issues and challenges for the market during the forecast period.
Hence, to dissolve the trends issues, the global governments are focusing on the development of technology and carrying out various kinds of researches. These will help in increasing the demand for the active and intelligent packaging market owing to security and safety concerns. The key market players are also further, focusing on developing strategies that will enhance the security features and also, strive for improved global demand during the forecast period ending in 2028.
The active and intelligent packaging industry is likely to be undergoing a massive degree of expansion owing to the performance that has been recorded by the prominent market players and the recent developments undertaken by them in the period. The players are mentioned as follows:
An increase in urban population along with elevated lifestyles and increased disposable income has resulted in a major increase in the ready-to-eat, frozen, and packaged food demand. Also, the active and intelligent packaging market trends suggest that there is an increasing demand for fruits and vegetables, meat, and other frozen products across the globe on account of a huge rise in global trade practices. This has led to increased demand for specialty packaging. Moreover, the well-developed transportation facilities are likely to drive global trade, which in turn is expected to affect the active and intelligent market positively. There has been a huge reduction in tracking time and efficient product monitoring that is expected to drive the global active, smart and intelligent packaging systems over the forecast period that will be ending in 2028. Huge market investments that are being made by top companies in the research and development department are expected to further boost the product demand with new products over the forecast period.
Some certain restraints and challenges are likely to be faced which will hinder the overall Active and Intelligent Packaging market growth during the ongoing forecast period. Increasing raw material cost also adds to the increased cost of production followed by having a major effect on the total cost of the inputs, resources, and products. This is expected to hamper the functioning and the active and intelligent packaging market growth for the period that will be ending in 2028.
The ongoing advancement in technology, innovative packaging alternatives, and other factors like the availability of innovative products including the food industry, is acting as the primary driver in the global active and intelligent packaging market as per the predictions that have been forecasted for the ongoing period that will be ending in 2028. Some of the emerging packaging products are witnessing the emergence of advanced time-temperature monitors, antimicrobial packaging, and other packaging products that are anticipated to help the market and grow further during the forecast period.
The active and intelligent packaging market value is anticipated to rise during the ongoing forecast period of 2021-2028 is because of the splendid performance of the market in the form of segments and the revenue that is being recorded by them during the period. The global active and intelligent packaging market has been segmented based on the following:
The global active and intelligent packaging market value is growing and the same can be attributed to the fact that the global market has been segmented based on geography. The geographical regions include the Asian Pacific region, North America, the European countries, and the Middle East & Africa. The participating market regions such as North America and Europe are likely to be dominating the active and intelligent packaging market due to stringent legislation regarding the processes like food and beverage packaging and technological advances in the field of active packaging. The Asian Pacific region is expected to experience the fastest growth during the forecasted period that ends in 2028 due to the economic growth of countries like China and India. The increasing demand for fresh and quality packaged food, followed by the degree of consumer convenience offered, and manufacturers’ concern for the longer shelf life of the food products are likely to be providing an opportunity for the Asia Pacific region to grow further.
The active and intelligent packaging market report has been prepared by conducting a deep market analysis and hence, help the market buyers and investors take their decisions. The global market report discusses the impact of the outbreak of the pandemic followed by the market segmentations that will help in understanding the revenue for the market during the forecast period of 2021-2028.
|CAGR||Substantial CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|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.