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The other factors contributing to the market growth include health awareness among consumers, advances in printed electronics, improving the standard of living, and growing consumption of packaged foods.
Demand for Active Smart and Intelligent Packaging Market is increasing due to technological advancement, and innovative packaging alternatives. In the food industry, Active Smart and Intelligent Packaging is replacing traditional packaging because it has advanced time-temperature monitors, antimicrobial packaging, and other packaging products. With increased shelf life, perishable items can be exported. However, factors like lack of willingness from consumers & retailers, rising prices of the commodities, and lack of marketing can hinder the market growth.
The global Active Smart and Intelligent Packaging market has been segmented on the basis of application, technology, and lastly, region. The application-based segmentation has segmented this market into food & beverages, healthcare, personal care, and others. Based on technology, the market has been segmented into moisture absorbers, oxygen scavengers, shelf life sensing, temperature indicators, and others.
In North America, the significant country-specific markets are the USA and Canada. In Europe, such markets are France, Germany, Spain, and the UK, followed by the remaining countries of Europe.
During the forecast period, the Asia Pacific region can experience the fastest growth due to growing economies like China and India. In this region, the market is growing due to demand for fresh & quality packaged food, consumer convenience, and the concerns of manufacturers as well as retailers regarding the longer shelf life of the food products. Other critical country-specific markets in this region are Australia, Japan, and South Korea, followed by the remaining countries of the Asia Pacific region. In the MEA region, the market is limited due to poor countries, lack of awareness, lack of education, lack of right infrastructure and lack of technological advancement.
Key Players
The key players in the global Active Smart and Intelligent Packaging market include Amcor Limited (Australia), Ampacet Corporation (USA), Bemis Company Inc. (USA), Ball Corporation (USA), Constar International Inc. (USA), Crown Holdings Incorporated (USA)
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