In 2021, The global Active & Intelligent Packaging market size is projected to reach USD 26.8 Billion by 2028, expressing a CAGR of 6.51% throughout the forecast period.
Over the recent years, the packaging industry has expanded at an unprecedented rate. This is partly attributed to the increased consumption of packaged food worldwide. Packaging has become an important part of product marketing strategy. The focus is moving beyond making the packaging attractive, companies are now adding novel functional qualities to their packaging solutions in order to gain consumer trust and create a distinct brand image. Moreover, changing life-style and rising level of health awareness among consumers to an extent has influenced the packaging industry. Brands are paying greater attention towards identifying and understanding consumer expectation and preference. Packaging can play an important role in luring a time-bound consumer. Factors as such are creating growth opportunities for active and intelligent packaging solutions.
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.
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 global report, with details of the active and intelligent packaging market size, is banking on a proper segmentation to get to the core. This segmentation includes technology and application as a part of the report. The assessment has its focuses on providing insights and bolstering market growth by assisting in forming strategies.
By technology, the report discussing the active and intelligent packaging market size reveals segments like oxygen scavenger, shelf life sensing, temperature indicators, moisture absorbers, and others.
By application, the global report on the active & intelligent packaging market includes a discussion on food & beverage, personal care, healthcare, and others. The demand to know the exact state of food is boosting the food and beverage segment.
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.
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.)
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