Active, Smart and Intelligent Packaging Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Construction and Manufacturing | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC168

Smart, active and intelligent packaging is the packaging method used with pharmaceuticals, foods and various other products. This involves the ability to measure or sense the features of product, shipping environment or inner atmosphere of package. Smart, active and intelligent packaging (advanced packaging) facilitates in extending shelf life, improving convenience, monitoring freshness, enhancing safety and displays information on quality. This further helps in preventing food spoilage; improving product attributes such as flavor, taste and aroma; product history; guarantee of seal integrity; active tracking of in-package environment & change in products and proof of product authenticity. Furthermore, it helps in supply chain management, premium pricing, waste reduction and brand protection.
 
The market for advanced packaging is propelling with rising awareness towards health benefits, and authenticity and safety of products. Smart packaging is a conjunction of intelligent, modified and active atmosphere packaging methods, particularly designed to amplify and monitor shelf life. Also, the companies prefer advanced packaging due to rising counterfeiting of the products in the market. Advanced marketing is bolstering and replacing traditional packaging techniques due to its ability to improve visual appearance of the product. The rise in demand for packaged food, ready-to-cook meals, better quality and freshness has increased manufacturers’ concern for delivering and satisfying customer needs thereby, increasing their focus on advanced packaging. However, harmful effects of packaging materials and high testing costs are the major factors hampering the market growth.
 
The market for advanced packaging is bifurcated into technology, applications and geography. Based on technology, the active, smart and intelligent packaging market is segmented into active packaging, modified atmosphere technology and intelligent packaging. On the basis of applications, the market is segmented into food & beverages, healthcare, automotive, personal care and others. The geography segment is bifurcated by regions into Asia Pacific, Middle East, Africa, North America, Europe and Latin America. Food & beverage segment held the largest share in terms of revenue in the advanced packaging system in 2015.
 
The global advanced packaging market is anticipated to grow in the coming years owing to the rising need from customers to retain nutritional value and freshness of the product at affordable prices. Also, the availability of sophisticated transport facilities are predicted to drive the market demand for advanced packaging. Less time taken for tracking and well-organized product monitoring are the factors anticipated to bolster the global advanced packaging demand in the coming years. Also, high implementation cost and research & development investments are some of the restraints hindering the market growth.
 
North America is leading the market for advanced packaging system owing to the increased health awareness among population and increasing urban lifestyles. Europe is the second largest region after North America in terms of revenue generation due to rising demand for stringent regulations and sustainable packaging. However, APAC is anticipated to witness high growth rate with increasing lifestyle of people in this region particularly, in India and China and increasing paying capacity of people demanding hygiene and good quality products. Also, with the rise in population, the demand for packaged food is increasing, leading to the growth of advanced packaging market. Some of the key players operating in this market include 3M, Sealed Air Corporation, BASF SE, Amcor Limited, Huhtamaki Group, MeadWestvaco Corporation, E. I. Du Pont De Nemours and Company, Sonoco Products Company, Avery Dennison Corp., Graham Packaging, Ball Corp and others.


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