Active and Intelligent Packaging Market Size| COVID-19 Impact Analysis
However, high implementation cost and huge investment in research and development for better products development are restraining the market growth. Recently, many manufacturers have started putting more efforts on the product development at lower cost and better quality. In 2016, the Active and Intelligent Packaging Market Size accounted for USD 15.11 billion. This market is expected to value at USD 23.76 billion at a projected
Some of the key players in the global Active and Intelligent Packaging Market Size includes Amcor Limited (Australia), Ampacet Corporation (U.S.), Ball Corporation (U.S.), Bemis Company, Inc. (U.S.), Constar International Inc.(U.S.), Crown Holdings Incorporated (U.S.), W.R. Grace and Company (U.S.)
Recent trend shows that increase in packaging companies focusing on expanding the shelf life and packaged food products being exported. Traditional packaging products failed to meet requirements of food products like meat and frozen foods. These constraints have given rise to new technologies which provide longevity and freshness to the food products.
The Active and Intelligent Packaging Market Size is, therefore, witnessing a remarkable growth. Advances in printed electronics are boosting the potential opportunities for Active & intelligent packaging by lowering costs. Whereas, major challenges is rising prices of the commodities, Lack of willingness from consumers and retailers and Lack of marketing acting as a major restraint for the growth of the market. COVID-19 Impact
The global Active and Intelligent Packaging Market Size is segmented by technology (oxygen scavengers, moisture absorbers, shelf life sensing, temperature indicators, and others), application (food & beverages, healthcare, personal care and others), and geography (The Americas, Europe, Asia Pacific and the Middle East & Africa)
Regional Analysis
The global market is segmented on the basis of geography: Asia Pacific, North America, Europe, and the Middle East & Africa. Regions such as North America and Europe are dominating the Active and Intelligent Packaging Market Size due to stringent legislation regarding food and beverage packaging and technological advances in the field of active packaging. Asia Pacific is expected to experience the fastest growth during the forecasted period due to the economic growth of China and India. The increasing demand for fresh and quality packaged food, consumer convenience, and manufacturers concern for the longer shelf life of the food products are providing an opportunity to the Asia Pacific region to grow further.
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