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In 2016, the Global Active Smart and Intelligent Packaging market accounted for USD 15.11 billion. This market is expected to value at USD 23.76 billion at a projected
Smart packaging includes active packaging and intelligent packaging; wherein active packaging refers to the packaging functions beyond the inert, passive containment and protection of the product. Intelligent packaging suitable for inner atmosphere of the package and for shipping. This type of packaging designed for controlling humidity, absorbing odors and maintaining the right concentration of gases and moisture within the packaged products. Innovative forms of active packaging materials release controlled quantities of ethanol into bakery and meat products to control bacterial growth. Active packaging material depends on the type of food it is designed to preserve.
Some of the key players in the global active & intelligent packaging market 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.), Graham Packaging Company Inc.(U.S.), Klockner Pentaplast (Subsidiary Of Blackstone Group) (U.S.), Landec Corporation (U.K.), Mitsubishi Gas Chemical Company (Japan), and Rexam plc. (U.K.)
The increase in the demand for packaged goods, consumer convenience, , manufacturers focus on the longer shelf life of the food products are active in the market. 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.COVID-19 Analysis
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.
Growing role of government and other agencies to safeguard consumers on a global platform. Government agencies are accountable for setting food safety standards, conducting inspections, ensuring that standards are met, and maintaining a strong enforcement. The Food Safety Modernization Act (FSMA), enables the Food and Drug Administration (FDA) to better protect public health by strengthening the food safety system.
The Global Active Smart and Intelligent Packaging market 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.
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 & intelligent packaging market 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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