Albany, NY -- (SBWire) -- 12/15/2015 --The global advanced packaging market to grow at a CAGR of close to 8% until 2019. To calculate the market size, analysts have considered revenues generated by global advanced packaging solution providers. The market is segmented according to the technology offered by the major players and on the basis of geography.
The global active technology packaging market is expected to witness strong growth during the forecast period because of factors such as the increasing consumer demand for fresh, safe, healthy, and quality packaged food. Also, the increase in concerns of manufacturers about the shelf life of food and beverages has led to increased demand for active packaging technologies that can extend shelf life.
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In terms of revenue, in 2014, the Americas accounted for the major share of the global advanced packaging market. However, the APAC region is expected to witness the fastest growth rate during the forecast period on account of increased demand for advanced packaging solutions in emerging economies of APAC.
Upcoming trends, drivers, and challenges of the global advanced packaging market:-
The printed electronics usage in the packaging industry is expected to be the next disruptive move to change the market dynamics. Vendors are developing solutions to incorporate printed electronics elements such as printed lighting or printed touch in the packaging design.
Vendors in the food and beverage packaging market compete primarily on the basis of innovative materials. The market is witnessing the introduction of new food and beverage packaging materials with improved mechanical, barrier, and antimicrobial properties.
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However, the costs involved in the R&D of advanced packaging technologies is high. Also, the testing of such materials for application in packaging requires elaborate procedures and is time-consuming and expensive. Also, the high cost of certain raw materials have led to higher procurement costs for the market vendors.
Leading vendors analyzed in this report:
Desiccare
Freshpoint
LINPAC
Maxwell Chase
Multisorb
PakSense
Sealed Air
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Advanced Packaging Market to Grow at a CAGR of Around 8% During 2015-2019 - Market Analysis by Key Vendors and Key Regions
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