The Active, Smart and Intelligent Packaging market is expected to reach USD 42.1 Billion by 2022 owing growing applications in various industries.
Hyderabad, India -- (SBWIRE) -- 01/22/2018 -- The report "Active, Smart and Intelligent Packaging Market by Application (Frozen processed food, Chilled processed food, Dried processed food, Dairy, Packaged food, Meat and poultry, Sea food), by Technology (Active Packaging, Modified atmosphere packaging, Intelligent Packaging) - Forecast to 2022", The Active, Smart and Intelligent Packaging market is expected to reach USD 42.1 Billion by 2022 from an estimated USD 30.3 Billion in 2017, at a CAGR of 6.82%. The key factors such as rapid innovation in technology, rising application of smart packaging over traditional methods of packaging, particularly in the case of the food industry, are driving the growth of the market. The substantial decrease in the transportation of bulk materials is a major driver of market growth.
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By application, the frozen processed food segment accounted for the largest share of the market in 2017
On the basis of application, the Active, Smart and Intelligent Packaging market has been segmented into Frozen processed food, Chilled processed food, Dried processed food, Dairy, Packaged food, Meat and poultry and Seafood. The frozen processed food segment accounts for the major market share owing to the fact that processed foods have been around for a larger period of time and have better market access and adaptation, coupled with greater necessity of smart packaging in this market.
By technology, the modified atmosphere segment accounted for the largest share of the market in 2017
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On the basis of technology, the Active, Smart and Intelligent Packaging market has been segmented into Active Packaging, Modified atmosphere packaging and Intelligent Packaging. In 2017, the modified atmosphere segment accounts for the largest share of the global Active, Smart and Intelligent Packaging market due to increasing use of modified atmosphere technology for the bulk transport of perishable and frozen goods.
North America dominated the market in 2017
North America accounted for the largest share of the Active, Smart and Intelligent Packaging market in 2017, followed by Europe. The large share of the North American Active, Smart and Intelligent Packaging market can be attributed to the established use of smart packaging in the transport of a variety of products and goods. North America is a seasoned market and has deep market penetration owing to established distribution channels.
The various players in the Active, Smart and Intelligent Packaging market include Multisorb Technologies, Ball Corp, Sealed Air Corp, Amcor limited, Eastman Chemical Company, Timestrip PLC, Paksense Incorporated, M&G USA Corporation and Sysco Corporation.
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