Advanced packaging technologies use an integrated circuit (IC), which is encapsulated in a supporting case that prevents physical damage and corrosion of the metallic parts. This case is called as package that supports electrical contacts connected to the device to a circuit board. Advanced packaging manufacturers produce various types of ICs according to the requirements in the packaging. The type of package used depends upon different parameters such as size, power dissipation, field-operating conditions, and its cost.
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Global Advanced Packaging Technologies Market: Growth Factors
The global demand for advanced packaging technologies is largely fulfilled by the manufacturers present in major countries of Europe and North American regions. It has been noticed that the consumers in these regions have shown great interest in the adoption of products with advanced packaging technologies.
Furthermore, in recent years, the packaging industry has witnessed a tremendous increase in demand for different products due to a change in consumer habits and the introduction of new & innovative products embedded with advanced packaging technologies. Companies are investing heavily in research and development activities to develop products with distinguishable characteristics. Consumer inclination towards convenience products such as packaged food has resulted in the development of products with advanced packaging technologies that offer longer shelf life through gas absorption and scavenging systems. Across the globe, active packaging is gaining traction for food packaging applications due to its properties that enhance shelf life and the ability to reflect properties of contained food on the packaging. Embedding advanced packaging technologies such as freshness and temperature indicators on food packaging products by a large number of brand owners all over the world is helping them acquire more customers and gain a competitive advantage in the packaged food industry. Leading packaging companies are collaborating with technology providers to develop advanced packaging technologies for their products. Global food and beverages companies are showing immense interest in adopting packaging solutions with advanced packaging technologies. These aforementioned factors are likely to drive the growth of advanced packaging technologies market over the next few years.
The advanced packaging technologies market has been segmented as follows –
Active Packaging Systems
Active Releasing Systems
Carbon Dioxide Emitters
Modified Atmosphere Packaging
Temperature Control Packaging
Smart and Intelligent Packaging
TTI Tags & Labels
Oxygen and CO2 Indicators
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By End Use
Meat, Poultry, and Seafood
Fruits & Vegetables
Ready to Eat Meals
Bakery & Confectionary
Industrial & Chemicals
Cosmetics & Personal Care
Asia Pacific (APAC)
Middle East & Africa (MEA)
The North American region accounts for the largest market share in terms of production of packaging products, with advanced packaging technologies, in both categories i.e. active and smart & intelligent packaging. The U.S. is expected to account for the largest market share in the North American advanced packaging technologies market. However, Canada is expected to witness higher CAGR value of 7.2% during the forecast period. European region occupies the second spot in the global advanced packaging technologies market in terms of both revenue generation and consumption. Germany and Italy are the main production hubs for products embedded with advanced packaging technologies in Europe. Both of these countries export a large proportion of its production to the U.S., China, ASEAN, India, Korea, and Japan. In the Asia-Pacific region, Japan accounts for the second largest market share due to the high consumption of the products with advanced packaging technologies in the country. A large number of advanced packaging manufacturers have already established a good presence in the Japanese market. However, the demand for advanced packaging technologies in Japan is increasing but at a slower rate than other countries in the Asia-Pacific region. Major technology providers such as EVRYTHNG Limited, Selinko SA, Digimarc Corporation, Prime Vision AG, and Waterio Ltd. are collaborating with packaging companies in the region to develop products with advanced packaging technologies and leverage opportunities generated from the high demand for such packaging solutions in the region.
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Some of the key players in the global advanced packaging technologies market include PakSense, Inc, Landec Corporation, Sealed Air Corporation, Bemis Company, Inc, Crown Holdings, Inc., Amcor Limited, 3M Company, Timestrip UK Ltd., Cryolog S.A., Vitsab International AB, Varcode, Ltd., LCR Hallcrest LLC.:, Thin Film Electronics ASA, CCL Industries Inc., Temptime Corporation, Multisorb Technologies, Inc., Coveris Holdings S.A., and others.