Active, Smart and Intelligent Packaging Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 10/06/2017 -- Global Active, Smart, and Intelligent Packaging Market: Snapshot
With the retail industry growing at a rapid pace, the need for attractive and advanced is also increasing with every passing day. Due to the ever increasing urban population and changing lifestyle trends, the demand for ready-to-eat, frozen, and packaged 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. As a result of this, the demand for specialty packaging has also increased over the last couple of years and is expected to stay the same in the years to come.
Active, smart, and intelligent packaging is used by manufacturers for retaining the nutritional value and freshness of the product within and at really competitive prices. The global trade of active, smart, and intelligent packaging is expected to be relatively driven by the sophisticated and advanced transport facilities available. The demand for active, smart, and intelligent packaging is maximum from the consumer goods, food and beverages, and pharmaceuticals industry keeping in mind the sensitivity of various products and the publicity needed in these industries.
However, the growth of the market is likely to be restrained by the extensively high cost 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 minimum cost incurred and ensured quality.
Global Active, Smart, and Intelligent Packaging Market: Overview
Packaging of a product not only ensures a safe and secure reach to the end-user, they also significantly affect the way the product is presented to the consumers from the marketing perspective. New technologies such as intelligent packaging, active, smart packaging, and modified atmosphere packaging are replacing traditional methods such as canning. Advanced packaging interacts internally (active packaging) as well as externally (intelligent packaging) with the environment and enhances the visual appeal of the products. Besides this, smart and active packaging also ease the process of bulk transportation. With the technological advancements, innovative packaging alternatives are now available for the manufacturers to innovate their consumer outreach and gain market share. The food industry in particular, which is currently at its peak, is the primary driver in the global active, smart, and intelligent packaging, besides the growing requirement of packaging that can more efficiently control gas and moisture.
Based on several factors, some of which are mentioned below, this report on global active, smart, and intelligent packaging market is projected for a healthy double digit growth rate during the forecast period. The report also profiles some of the key players who are currently leading this market, and aims to serve as a guide for the players to make more informed choices. Active packaging, modified atmosphere, and intelligent packaging technology are of the technology segments of this market, whereas application segment can include seafood, meat and poultry, soup, confectionaries, dairy products, and fruits and vegetables.
Global Active, Smart, and Intelligent Packaging Market: Trends and Opportunities
Some of the emerging packaging products are advanced time-temperature monitors, antimicrobial packaging, and smartphone-enabled interactive packaging products. Most of these products are anticipated to develop further during the forecast period and pave way for manufacturers to impress their consumers. Due to the escalating demand for packaged food, such as ready-to-cook, from the urban population across the globe, coupled with increasing food safety concerns that is quickly becoming a norm for several industries, the market for active, smart, and intelligent packaging is expected to stay in good stead. This market is also expected to grow on account of increasing need for to retain freshness and nutritional value of the products, at competitive prices.
In particular, the report anticipates intelligent packaging market to expand faster as products such as time-temperature indicators and smart labels become common. The report also suggests that active packaging demand will be driven by the growth in gas scavenger products, which are benefitting from the development of more advanced technology and growing preference toward foods with fewer additive.
Global Active, Smart, and Intelligent Packaging Market: Region-wise Outlook
Currently, the region of North America serves the maximum demand for active, smart, and intelligent packaging, as far as geographical segmentation of this is concerned. Owing to factors such as stringent legislations regarding food and beverage packaging in the country-wide markets of the U.S., and Canada, the demand from North American region will sustain during the forecast period. However, the demand from the region of Asia Pacific which resides several emerging economies, is also expected to swell considerably in next few years.
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Companies Mentioned in the Research Report
Active, smart, and intelligent packaging makes for an evolving market wherein new and technologically advanced products are of great essence. The key players in this market, such as Amcor Ltd., Graham Packaging Company Inc., Landec Corp., Ball Corp., Timestrip, plc, VIP Packaging, Sealed Air Corp., SYSCO Corp., Mitsubishi Gas Chemical, notice this requirement as are continuously investing on research and development to gain ground over their competitors.