The food industry is one of the biggest end-users of the active packaging market.
Arizton’s recent market research report on the intelligent and active packaging market provides comprehensive industry analysis, trends forecasts, and competitive analysis. The research study segments the market by application (food, beverages, healthcare, and others), active packaging system type (gas scavengers, moisture control system, microwave susceptors, and others), intelligent packaging system type (interactive packaging, indicators, and sensors), by geography (APAC, Europe, North America, Latin America, and MEA).
The intelligent and active packaging market is expected to grow at a CAGR of more than 4%, during 2018–2024.
Active Packaging Market is expected to Gain More Prominence during the Forecast Period
The active packaging market is generating high revenues. The active packaging comprises gas scavengers, moisture control systems, microwave susceptors, and others. The two major factors responsible for the accelerated growth are extended shelf life and accessible food products at rational rates. In addition, the food industry is one of the biggest end-users of active packaging. Further, with over $12 billion exports from the US, and high domestic consumption in Europe, the demand for active packaging market will be highest in APAC, Europe, and North America. In addition, the intelligent and active packaging market is expected to gain momentum as the consumers and vendors/brands are open to adopting of newer technologies to meet regulations and also reduce cost pressures on account of volatile raw material prices.
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The Food Industry is Adopting Intelligent and Smart Packaging Ways
The food industry is the major end-user of the intelligent and active packaging market. The application of active packaging is comparatively more than intelligent packaging as it is comparatively cheaper especially the scavengers, and absorbers. Thus, the continued growth for organic foods, in-store prepared foods, and other foods will boost opportunities for oxygen scavengers in sachet, label or film forms for food security. Furthermore, growth will be buoyed by new directives targeted at improving food safety and by maximizing the connectivity applications in a smartphone. Further, the intelligent and active packaging market is also witnessing innovative ways of packaging systems because of the rising disposable incomes per household, popularization of nuclear families, and population increase.
The Expanding Pharmaceutical Industry in APAC is Boosting the Intelligent Packaging Market
Consumer-packaged goods, including food and beverages, lead the APAC market. The market in the region provides huge opportunities for the vendors as the level of counterfeit products is on a higher scale. Furthermore, the growth of e-commerce in China, India, and other regions of APAC is also boosting the demand for active and intelligent packaging volumes. The well-established offline and online distribution channels across multiple application areas are aiding the adoption and growth of the smart packaging market. In addition, India and China are expected to witness the highest growth in the region for the pharmaceutical industry. The opportunities for the pharmaceutical industry in these countries is enormous on account of its high population and sale of OTC and self-medication drugs, which is likely to drive the intelligent and active packaging market during the forecast period.
Avery Dennison, DuPont, Stora Enso, Timestrip, and Thinfilm Electronics are some of the leading vendors of the intelligent and active packaging market.
The complete overview of the latest market research report on the intelligent and active packaging market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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