Global Active & Intelligent Packaging Market Information: By Technology (Oxygen Scavengers, Moisture Absorbers, Shelf Life Sensing, Temperature Indicators, And Others) By Application (Food & Beverages, Healthcare, Personal Care And Others) And Region- Forecast To 2023
Active & Intelligent Packaging Market Synopsis
Over the recent years, the packaging industry has expanded at an unprecedented rate. This is partly attributed to the increased consumption of packaged food worldwide. Packaging has become an important part of product marketing strategy. The focus is moving beyond making the packaging attractive, companies are now adding novel functional qualities to their packaging solutions in order to gain consumer trust and create a distinct brand image. Moreover, changing life-style and rising level of health awareness among consumers to an extent has influenced the packaging industry. Brands are paying greater attention towards identifying and understanding consumer expectation and preference. Packaging can play an important role in luring a time-bound consumer. Factors as such are creating growth opportunities for active and intelligent packaging solutions.
In 2016, the active and intelligent packaging market accounted for USD 15.11 billion. This market is expected to value at USD 23.76 billion at a projected period 2023
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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.
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 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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Latest Industry Trends and News
Leading supermarket chain, SAINSBURY, is reportedly gearing up to launch a ‘touch-free’ chicken packaging solution aimed at shoppers who are uncomfortable with handling raw meat. SAINSBURY will unveil a plastic pouch that will allow consumers to drop the sliced meat directly into the frying pan, eliminating the need of manual handling.
Packaging solution provider, Sonoco, recently announced the acquisition of Florida-based Highland Packaging Solutions, a thermoformed packaging specialist for items such as vegetable, eggs and fresh fruits.
On the basis of technology, the market has been segmented into moisture absorbers, temperature indicators, oxygen scavengers, shelf life sensing and others. Based on application, the market has been segmented into personal care, healthcare, food & beverages and others.
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This post was originally published on Market Reports