Active and Intelligent Packaging Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Active and Intelligent Packaging market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Active and Intelligent Packaging Market report is anticipated to register a CAGR of 8.17% over a five years forecast period (2020 – 2023).”
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List of Major Key players operating in the Global Active and Intelligent Packaging Market are –
- BASF SE
- Amcor Ltd.
- Honeywell International Inc.
- Landec Corporation
- Bemis Company Inc.
- Crown Holdings Inc.
- Ball Corporation (Rexam PLC)
- Sonoco LP
- Graphic Packaging
- Timestrip UK Ltd.
- VIP Packaging
- PFF Packaging (Intelligent Packaging Solutions Ltd)
- Dessicare Inc.
- Fresh Point Holdings
- WestRock Company (MeadWestvaco Corporation)
The active and intelligent packaging market was valued at USD 17.48 in 2017, and it is expected to reach a value of USD 28.00 by 2023, at a CAGR of 8.17% during the forecast period (2020 - 2023). The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa.
According to the Center for Disease Control and Prevention (CDC), there are about 48 million cases of foodborne illness, annually, in the United States; which is the equivalent of sickening 1 in 6 Americans each year. In addition, each year, these illnesses result in an estimated 128,000 hospitalizations and 3,000 deaths. Thus, increasing awareness about food-borne diseases and increasing demand for fresh and quality packaged food, consumer convenience and manufacturers concern for longer shelf-life of the food products is driving the market for global active and smart packaging technology for food and beverage market. Owing to the ever-growing urban population and changing lifestyle trends, the demand for ready-to-eat, frozen, and packaged food is increasing extensively across the globe. The supply of frozen foods, meat products, vegetables, and fruits is surpassing boundaries, thus giving regional markets a global exposure. Moreover, with the retail industry propelling at a rapid pace, the need for attractive and advanced packaging is also increasing. Further, increase in counterfeit products in developing countries has also compelled companies to use technologies like RFID during packaging. All these factors account for a significant rise in the demand for active and intelligent packaging. However, factors such as higher costs of installation and implementation and security issues concerned with these systems are hindering the growth of the market.
Longer Shelf-Life and Changing Lifestyle of People Are Driving Market Growth
The immense pressure on manufacturers to reduce the use of preservatives in food products has increased the prominence of packaging. With supply chains becoming increasingly global, longer shelf-lives are very important for products to be able reach the customers in their intended state. Increasing globalization has created the demand for products to be transported all across the world without any loss in their nutritional value or alteration of their chemical composition. As companies are looking to expand into emerging markets, with no sophisticated cold storage chains, producing packages that provide longer shelf-life have become imperative. Active and intelligent packaging has superior barrier capabilities and can effectively protect the product from moisture and oxygen. Shelf Life Sensing, Temperature Indicators, RFID, and other technological systems are generally used systems in active and intelligent packaging systems and even nano packaging technologies are inducing the modified atmosphere packaging systems to increase sustainability. Healthcare, food and beverage industries are inclined toward using antimicrobial packaging systems to increase durability and future consumption. Thus, the need to provide longer shelf-life is one of the major drivers for the active and intelligent packaging market.
Frozen Food Expected to Witness a Rise in the Demand for Safe Motors
Frozen food has established itself as an alternative to prepared meals through the combination of product and packaging innovation. The demand for this segment has witnessed strong growth due to growing demand for fast-to-prepare food and new product launches. Growing demand from emerging economies is another driving factor for this segment's growth. These products have strict packaging regulations. Safety and longer shelf-life are the primary packaging requirements for these goods. Thus, active and intelligent packaging is increasingly being employed for packaging of frozen foods. With consumers now being highly health conscious and aware of health hazards related to edible products, the demand for active packed goods is growing. Increasing growth of frozen foods consumption and growing demand for these products in Asia-Pacific is expected to drive the growth of this market during the forecast period.
North America is Expected to Account for a Significant Share in the Market
North America witnessed a rapid rise as growing population has directly burdened the food industry and affected the packaging industry. It is home to the busiest markets and forms a major part of the workforce dependent on frozen foods and packaged food for appetite. To meet the large demands of the food industry, there has been a significantly large increase in the volume of imports of food from different regions across the world. This large-scale transport of products requires an advanced and interactive packaging technique to ensure the quality of products on delivery and to increase the shelf-life of the product considerably. In spite of inconsistent change during 2015-2016, the technologically advanced nature of the region and its economic strength are expected to still make the region potent to cater the increasing need of active and intelligent packaging.
Moreover, the increased cost of complex packaging has not hindered the growth of the market in North America, as rising income levels of the population have enhanced the purchasing power and heavily influenced a major shift in the lifestyle of people.
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Scope of the Report:
The report analyses Active and Intelligent Packaging market, which includes –
- Analysis of the growth of Active and Intelligent Packaging market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Active and Intelligent Packaging market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Active and Intelligent Packaging market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Active and Intelligent Packaging market are discussed.
- The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Active and Intelligent Packaging Market Report:
- Varying dynamics of the Active and Intelligent Packaging industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
- Active and Intelligent Packaging market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Active and Intelligent Packaging market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Active and Intelligent Packaging Market Report:
- The report analyses how stringent emission control norms will drive the global Active and Intelligent Packaging market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Active and Intelligent Packaging market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Active and Intelligent Packaging:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023
Look into Table of Content of Active and Intelligent Packaging Market Report @ https://www.360marketupdates.com/TOC/12884721#TOC
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