Global Active Smart and Intelligent Packaging Market Size, Share, Growth, Trends, Analysis, Future Scope: By Technology (Oxygen Scavengers, Moisture Absorbers, Shelf Life Sensing, Temperature Indicators, And Others) By Application (Food & Beverages, Healthcare, Personal Care And Others) And Region- Forecast To 2023
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.
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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.
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 Global Active Smart and Intelligent Packaging Market accounted for USD 15.11 billion. This market is expected to value at USD 23.76 billion at a projected
Some of the key players in the global Global Active Smart and 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.)
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 Global Active Smart and 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.
On the basis of technology, the market has been segmented into moisture absorbers, temperature indicators, oxygen scavengers, shelf life sensing and others. Based on application, the market has been segmented into personal care, healthcare, food & beverages and others.
Latest Industry Trends and News
Leading supermarket chain, SAINSBURY, is reportedly gearing up to launch a ‘touch-free’ chicken packaging solution aimed at shoppers who are uncomfortable with handling raw meat. SAINSBURY will unveil a plastic pouch that will allow consumers to drop the sliced meat directly into the frying pan, eliminating the need of manual handling.
Packaging solution provider, Sonoco, recently announced the acquisition of Florida-based Highland Packaging Solutions, a thermoformed packaging specialist for items such as vegetable, eggs and fresh fruits.
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