Active Smart and Intelligent Packaging Market Growth, Trends, Analysis, Future Scope, Size, Share, Forecast To 2023
Summary
Global Active Smart and Intelligent Packaging Market Segments, 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
Active Smart and Intelligent Packaging Market Overview
According to Market Research Future (MRFR), the global Active Smart and Intelligent Packaging Market is poised to touch a valuation of USD 23.76 BN by 2023. MRFR also asserts that the market would register a phenomenal CAGR throughout the forecast period (2017 – 2023). Advances in printed electronics, along the market, are expected to witness remarkable growth.
On the other hand, volatility in the prices of raw materials required for the manufacturing of the active and intelligent packaging solution are some of the factors impeding the growth of the market by restricting the production. To tackle such situations, key players are focusing on product development with the minimum cost incurred and ensured quality.
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Major Players
Players leading the global Active Smart and Intelligent Packaging Industry include
- Ampacet Corporation (US)
- Amcor Limited (Australia)
- Ball Corporation (US)
- Constar International Inc. (US)
- Bemis Company, Inc. (US)
- Crown Holdings Incorporated (US)
- Graham Packaging Company Inc. (US)
- R. Grace and Company (US)
- Klockner Pentaplast (US)
- Mitsubishi Gas Chemical Company (Japan)
- Landec Corporation (UK)
- Rexam plc. (UK), among others.
Industry/Innovation/Related News
July 15, 2019 --- Systech International Inc. (the US), a global technology leader in anti-counterfeiting, product safety, consumer and brand protection announced about winning the Mondelēz Challenge during the AIPIA Summit (Active & Intelligent Packaging Industry Association) of the Americas. The firm continues to solidify its position as an innovator in digital brand protection and supply chain security. With its award-winning technology, Systech announces that it is now poised to bring its unparalleled brand protection solutions to the food industry. The same technology that protected billions of pharma products for years would help keep the food industry's top brands authentic, safe, and connected across the supply chain.
Global Active Smart and Intelligent Packaging Market– Competitive Landscape
Highly competitive, the global Active Smart and Intelligent Packaging Market appears to be fragmented, characterized by the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, expansion, and technology launch to gain a competitive advantage in the market.
Manufacturers operating in the market employ a continuous improvement strategy to analyze and update products. They implement improvements and launch new technologies, meeting the changing needs of consumers. These players are also investing heavily in research and development activities to develop state-of-the-art equipment, facilities, advanced technology, and processes.
Active Smart and Intelligent Packaging Market –Segmentations
The report is segmented into three key market dynamics to widen the scope of understanding,
By Technology : Oxygen Scavengers, Moisture Absorbers, Shelf Life Sensing, and Temperature Indicators, among others.
By Application : Food & Beverages, Healthcare, and Personal Care, among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Regional Analysis
Well-developed regions such as North America and Europe are estimated to lead the global Active Smart and Intelligent Packaging Market throughout the forecast period. Factors, such as the stringent legislation regarding food & beverage packaging and technological advances in the field of active packaging, are encouraging the growth of the markets in these regions.
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Moreover, higher disposable income, growing demand for quality packaging with extended shelf-life, and focus on less food wastage are fostering the growth of the regional market. Furthermore, changing lifestyles, increasing trend of nuclear families in these regions, and the demand for the convenience packaging are allowing the Active Smart and Intelligent Packaging Market in these regions to grow rapidly.
The Asia Pacific is another promising region for active and intelligent packaging. The burgeoning e-commerce industry in the region is a key factor providing increasingly lucrative opportunities for the packaging industry. The region is projected to experience the fastest growth during the forecasted period due to the improving economic conditions in China and India.
Increasing export of fruits and vegetables alongside, the demand for quality packaging solution that can offer convenience and longer shelf life are providing growth opportunities to the regional market.
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.