Active, smart, and intelligent refer to packaging systems used with foods, pharmaceuticals, and several other types of products. They help extend shelf life, monitor freshness, display information on quality, improve safety, and improve user convenience. It is used by the packaging producers to retain nutrient value and product freshness at competitive pricing. New technologies such as intelligent packaging, active, smart packaging, and modified atmosphere packaging are replacing traditional methods such as canning.
Today, active, smart, and intelligent packaging market growth is gaining traction driven by the advanced transport facilities available across the globe. Escalating demand for active, smart, and intelligent packaging in consumer goods, food and beverages, and pharmaceuticals sectors can be attributed to growing need for promotion, advertisement, marketing, branding, and publicity activities in these sectors. Furthermore, massive need for elongating shelf life of the food items will further impel the growth and scope of the business.
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Besides this, smart and active packaging also eases the process of bulk transportation. The food industry in particular, which is currently at its peak, is the primary growth driver of the global active, smart, and intelligent packaging market. However, the growth of the market is likely to be restrained by the massive high costs of implementation due to the huge money being invested in the research and development of better products. To address this issue, the key players are focusing on product development with the minimum cost incurred and ensuring high-quality service delivery.
The global active, smart, and intelligent packaging market can be classified based on packaging type and application. Based on the packaging type, the market can be sectored into active packaging and smart & intelligent packaging. Application wise, the active, smart, and intelligent packaging market can be classified into food & beverages, pharmaceuticals, cosmetics, and others.
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Some of the key players in active, smart, and intelligent packaging market are Amcor Ltd., Graham Packaging Company Inc., Landec Corp., Ball Corp., Timestrip, plc, VIP Packaging, Sealed Air Corp., SYSCO Corp., and Mitsubishi Gas Chemical.
North America is leading the market for advanced packaging system owing to the increased health awareness among population and increasing urban lifestyles. Europe is the second largest region after North America in terms of revenue generation due to rising demand for stringent regulations and sustainable packaging. However, APAC is anticipated to witness high growth rate with increasing lifestyle of people in this region particularly, in India and China and increasing paying capacity of people demanding hygiene and good quality products. Also, with the rise in population, the demand for packaged food is increasing, leading to the growth of advanced packaging market.
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The global Active, Smart, and Intelligent Packaging Market report offers a comprehensive assessment of the market for the forecast years.
This globe industry offers an outlook on the strategic development of the market in terms of revenue profits over the forecast period 2021-2026.The key market players for the global Active, Smart and Intelligent Packaging market are listed below: Timestrip UK Ltd. Amcor Landec Corporation 3M Company.
Sealed Air Corporation Vitsab International AB Amcor Limited Crown Holdings, Inc. Cryolog S.A. Temptime Corporation Varcode, Ltd. Multisorb Technologies, Inc. CCL Industries Inc. LCR Hallcrest LLC Coveris Holdings S.A.
It also evaluates the competitive scenario of the leading players.
The detailed study highlights the probable outcomes of this global crisis on the Active, Smart, and Intelligent Packaging industry.
The impact study on production, supply-demand, and sales provides a holistic approach to the future.Do You Have Any Query Or Report Customization?
SummaryGlobal Active 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 2023Active and Intelligent Packaging Market Synopsis 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.
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.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.
This market is expected to value at USD 23.76 billion at a projected Regional AnalysisThe 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 and Intelligent Packaging Market due to stringent legislation regarding food and beverage packaging and technological advances in the field of active packaging.
