Pune, March 07, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Active Packaging Market Size, Share & Trends Analysis Report by Type (Oxygen Scavenger, Shelf-Life Sensing, Time Temperature Indicator, Moisture Absorber) And Application (Food And Beverage, Healthcare, Pharmaceutical, Personal Care)- Market Outlook And Industry Analysis 2031"
The global active packaging market is estimated to reach over USD 58.81 billion by 2031, exhibiting a CAGR of 10.04% during the forecast period.
Active packaging incorporates specialized additives into the packaging systems to preserve a product's quality and shelf life. Intelligent packaging technologies keep an eye on packed food as it is being moved and stored and provide data about the quality of the food.
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The development of the packaged food industry and an increase in the use of active packaging in convenience stores are two factors that contribute to this growth.However, it is projected that stringent government restrictions on plastic wrapping may obstruct industrial growth in the years to come. The healthcare industry is growing due to rising chronic sickness rates and OTC drug demand.
The strict regulations governing the packaging of pharmaceutical products have led to increased expenditures on active packaging solutions. Because of the growing complexity of goods that must be preserved or supplied to remote areas while maintaining their purity, the market for active packaging is anticipated to expand for the forecast period. Due to the growing popularity of packaged or ready-to-eat foods, the industry is observing an increase in demand for active packaging. It is also projected that the beverage industry, which offers bottled water and beverage pouches, will benefit this market. The development of packaging.
Recent Developments:
- In May 2022, Avery Dennison and Wiliot, a provider of digital ID technologies, announced a strategic partnership to scale the Internet of Things through the integration of atma.io and the creation, design, and manufacturing of Wiliot tags, which will help the IoT become intelligent and completely interconnected.
- In April 2022-Amcor PLC invested in upgrading the medical packaging factory in Sligo, Ireland's thermoforming capabilities. The multi-million dollar investment would help Amcor's sterile packaging division grow while providing customers in Europe and North America with another location with all-inclusive healthcare offerings.
List of Prominent Players in the Active Packaging Market:
- 3M (U.S.)
- Accutech Packaging
- AIMPLAS Inc (Spain)
- Amcor Ltd.
- Amelco Desiccants Inc
- American Thermal Instruments
- Amerplast Ltd
- Ampacet Corporation
- Aptar Group Inc
- Avery Dennison
- BASF SE
- Dessicare Inc.
- DuPont
- Emerson Electric Co.
- Graham Packaging Company (U.S.)
- International Paper
- MicrobeGuard Corporation
- R. Grace and Company
- R.R. Donnelly & Sons (RRD) Company
- Sealed Air Corporation
- Smartglyph Ltd
- Smartrac N.V.
- Stora Enso
- Temptime Corporation
- Thin Film Electronics ASA
Active Packaging Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 25.22 Bn |
| Revenue forecast in 2031 | USD 58.81 Bn |
| Growth rate CAGR | CAGR of 10.04% from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Type And Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Market Dynamics:
Drivers-
The global market for active packaging has revealed fresh development prospects. Food packaging design is necessary due to consumers' rising desire for ready-to-eat foods. Furthermore, eateries are aware of how fervently consumers feel about food packaging. Growing consumer awareness of the components in food is expected to impact the global active packaging industry. This has also created opportunities for more premium, healthful cuisine with reduced fat and osmotic pressure. Additionally, it is projected that continued product innovation by domestic and international companies across all geographies will fuel the market for active packaging. Following the easing of the lockdown restrictions put in place during the COVID outbreak, there is now an unprecedented degree of demand across online food delivery channels.
Challenges:
The need for packaging is also being stifled by some laws, including the Federal Trade Commission's (FTC) 16 CFR Section 260, which promotes green packaging, and the European Union's Packaging and Packaging Waste Directive (94/62/EC). These elements are preventing further market expansion. Insulated packaging is frequently made from basic materials such as polystyrene, EPS Styrofoam, polyethylene, and polyurethane, which are downstream crude oil products. Crude oil price changes impact the price of packaging raw materials, which is anticipated to be a significant problem for the market's manufacturers throughout the forecast period.
Regional Trends:
The North America active packaging market is expected to register a major market share in revenue the focus on product innovation is still strong in the North American active packaging sector. Businesses are encouraged to enter the industry by the swift shift from conventional to intelligent wrapping techniques. This forces established businesses to offer reasonable and efficient bundling alternatives to maintain their position as leaders in the regional market. Besides, Europe had a substantial share of the market. The market benefits from the government's rigorous regulations requiring correct labeling of all medications to prevent drug fraud in the pharmaceutical sector. The massive increase in food demand brought on by the expanding population will significantly affect the active packaging industry.
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Segmentation of Active Packaging Market-
By Type:
- Oxygen Scavenger
- Shelf-life sensing
- Time Temperature Indicator
- Moisture Absorber
- Others
By Application:
- Food and Beverage
- Healthcare
- Pharmaceutical
- Personal Care
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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