Displaying substantial momentum, the global active packaging market is anticipated to display an excellent CAGR during the next few years. Greater emphasis on safety and integrity of food products predominantly drives the market ahead.
Market in Brief
The increased consumer awareness about the importance of product quality, safety, and sustainability, is influencing growth across the global active packaging market. Additionally, the rising concerns regarding foodborne contamination and illnesses have led to the emergence of packaging that enhances the safety and integrity of food products. Moreover, modern consumers and manufacturers both are seeking packaging solutions that can extend the shelf-life of products and ensure product freshness. Active packaging aligns with such market shifts and offers additional convenience features such as resealability.
In the coming years, the demand for active packaging will continue to soar owing to the increased regulations apropos to food safety and packaging waste reductions. The advances in packaging materials, smart sensors, and active agents are enabling the development of an effective and innovative active packaging market. These notable factors together are strengthening the revenue opportunities for the global active packaging market.
Key Market Trends
Rising Demand for Sustainable and Long-lasting Packaging Solutions
In the present scenario, traditional packaging continues to dominate the packaging industry. In traditional packaging, while the product is protected from environmental dangers during the complete supply chain process, there is no or minimal interaction between food and packaging. Now, the growing demand for sustainable and long-lasting packaging amid environmental concerns is driving the need for innovative packaging, leading to the digitization. Digital packaging technologies such as RFID tags, and smart sensors, enable real-time monitoring of product conditions such as humidity, freshness, and temperature. This kind of monitoring ensures the maintenance of optimal product quality and extends the shelf life of perishable goods.
Evolving Consumer Lifestyle
An uptick in urban population coupled with changing lifestyles has created a considerable rise in demand for packaged, frozen, and ready-to-eat food. Urban consumers are also developing a taste for highly exotic produce, meat, and healthy food. As a result of this, the need for active packaging has emerged. Active packaging enhances product quality and ensures its safety by enabling better product monitoring. The synergy of changing consumer lifestyles and growing awareness for safe and convenient packaging is poised to unlock growth opportunities across the active packaging market.
High Raw Material Pricing
While the global active packaging market is anticipated to grow at an unabated rate, there are certain aspects that are likely to hinder market growth in the forthcoming years. The high raw material price associated with the production of active packaging solutions has emerged as a major hurdle. Apart from this, the growing expenditure on research and development could dampen market growth. Moreso world over, government authorities are imposing strict regulations against the use of plastic in convenience shops.
Overview of Key Segments
Smart Packaging to Gain Momentum
In recent years, smart packaging has gained significant traction. This prominence can be primarily attributed to the numerous advantages of smart packaging. Smart packaging enables the incorporation of sensors, indicators or labels that monitor and communicate important product information such as temperature, freshness, and expiration. Additionally, such packaging solutions incorporate components such as oxygen scavengers that prevent oxidation, aiding in preserving the freshness of food products.
Moreover, with the help of integrated sensors, it monitors various quality parameters such as gas emission, and spoilage indicators. Moreover, the sensors provide real-time data on the product’s condition, alerting manufacturers, retailers, and consumers if there are any quality issues.
Food and Beverages Industry Generates Notable Demand
The global active packaging market is expanded over various industries including food and beverages, pharmaceuticals, personal care and cosmetics, and shipping and logistics. Food and beverages exhibit high potential to hold a prominent share in the upcoming years. The cumulation of extended shelf-life, enhanced product safety, improved quality, and sustainability goals, has created the need for easy-to-use packaging solutions in the food and beverage industry. This in turn is likely to strengthen revenue opportunities for the global active packaging in the food and beverage industry.
North America to Lead, Europe Closely Follows
North America is poised to take the major market share in the global active packaging market. The rapid transformation from traditional to smart wrapping methods is primarily contributing to market growth. Market players in the region are also well-equipped with resources to offer affordable and effective packaging solutions. Closely following, Europe is anticipated to maintain its position as the second-largest market. The recent expansion of pharmaceutical and vaccine development in the region has escalated the need for active packaging.
Competitive Landscape Analysis
To gain a competitive edge, leading industry participants in the global active packaging market are adopting several strategies. Superior operational efficiency, and utilization of safe and novel technology, are among the major focus of the market leaders.
Key players craving the growth curve for the active packaging market include AptarGroup Inc, Accutech Packaging, 3M (U.S.), Amcor Ltd., American Thermal Instruments, AIMPLAS Inc (Spain), Ampacet Corporation, Amelco Desiccants Inc, BASF SE, Dessicare Inc., Amerplast Ltd, Emerson Electric Co., Avery Dennison, MicrobeGuard Corporation, DuPont, International Paper, R.R. Donnelly & Sons (RRD) Company, Graham Packaging Company (U.S.), Smartglyph Ltd, Sealed Air Corporation, R. Grace and Company, Smartrac N.V., Temptime Corporation, Stora Enso, and Thin Film Electronics ASA.
Recent Notable Developments
Regional Classification of the Global Active Packaging Market is Listed Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Active Packaging Market
Post Sale Support, Research Updates & Offerings
We value the trust shown by our customers in Fairfield Market Research. We support our clients through our post sale support, research updates and offerings.
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.Read more