The active, smart, and Intelligent Packaging Market size was worth USD 15.29 mn in 2019 and is to reach USD 25.70 million by 2026 with a CAGR of 7.73%.
Active, Smart, and Intelligent Packaging Market
Active, smart, and intelligent refer to packaging systems used with foods, pharmaceuticals, and several other types of products. They help extend shelf life, monitor freshness, display information on quality, improve safety, and improve user convenience. It is used by packaging producers to retain nutrient value and product freshness at competitive pricing. New technologies such as intelligent packaging, active, smart packaging, and modified atmosphere packaging are replacing traditional methods such as canning.
Global Active, Smart, and Intelligent Packaging Market size was valued at USD 15.29 million in 2019 and is likely to reach USD 25.70 million by 2026 with a CAGR of 7.73%.
Today, active, smart, and intelligent packaging market growth is gaining traction driven by the advanced transport facilities available across the globe. Escalating demand for active, smart, and intelligent packaging in consumer goods, food, beverages, and pharmaceutical sectors can be attributed to the growing need for promotion, advertisement, marketing, branding, and publicity activities in these sectors. Furthermore, the massive need for elongating the shelf life of the food items will further impel the growth and scope of the business.
Besides this, smart and active packaging also eases the process of bulk transportation. The food industry in particular, which is currently at its peak, is the primary growth driver of the global active, smart, and intelligent packaging market. However, the growth of the market is likely to be restrained by the massive high costs of implementation due to the huge money being invested in the research and development of better products. To address this issue, the key players are focusing on product development with the minimum cost incurred and ensuring high-quality service delivery.
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The global active, smart, and intelligent packaging market can be classified based on packaging type and application. Based on the packaging type, the market can be sectored into active packaging and smart & intelligent packaging. Application-wise, the active, smart, and intelligent packaging market can be classified into food & beverages, pharmaceuticals, cosmetics, and others.
Global Active, Smart, and Intelligent Packaging Market Report Scope:
|Active, Smart, and Intelligent Packaging Market Research Report
|Market Size in 2018
|USD 15.29 Billion
|Market Forecast in 2026
|USD 25.70 Billion
|Compound Annual Growth Rate
|CAGR of 20.8%
|Number of Pages
|Value (USD Billion), and Volume (Units)
|Key Companies Covered
|Amcor Ltd., Graham Packaging Company Inc., Landec Corp., Ball Corp., Timestrip, plc, VIP Packaging, Sealed Air Corp., SYSCO Corp., and Mitsubishi Gas Chemical.
|By Packaging Type, By Application, And By Region
|North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
|North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|2016 to 2020
|2022 - 2030
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Based on regions, the global active, smart, and intelligent packaging market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Massive demand, as well as demand elasticity, is likely to drag the growth trajectory of the North American active, smart, and intelligent packaging market in the upward direction. Furthermore, strict laws governing food & beverage packaging in countries such as the U.S. and Canada will further accelerate the market demand in the region.
The introduction of new packaging technology along with its massive use in the food sector will drive the growth of the active, smart, and intelligent packaging market in Latin America. Massive cooperation observed among the farmers, producers, food processors, distributors, retailers, manufacturers, and consumers resulting in efficient supply chain management as well as effective implementation of just-in-time strategy by the manufacturers will boost the active, smart, and intelligent packaging market trends in the Middle East and Africa.
Escalating use of the active, smart, and intelligent packaging in Asia Pacific countries such as India, Japan, and China will help the market growth gain momentum in the Asia Pacific zone.
Some of the key players in the active, smart, and intelligent packaging market are Amcor Ltd., Graham Packaging Company Inc., Landec Corp., Ball Corp., Timestrip, plc, VIP Packaging, Sealed Air Corp., SYSCO Corp., and Mitsubishi Gas Chemical.
By Packaging Type