Active, Smart, Intelligent Packaging Market to Touch $43,361.3 Million by 2027
Print this Article | Send to Colleague
The global packaging industry has witnessed rapid innovations in the past few years due to rising consumer preferences for advanced packaging solutions. To cater to frequently changing consumer expectations, manufacturers of packaging products are deploying active, smart, and intelligent packaging solutions to increase product shelf life and offer better value to consumers.
In a new report titled Active, Smart, and Intelligent Packaging Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027), Future Market Insights, Valley Cottage, N.Y., USA, studies the global active, smart, and intelligent packaging market and presents value and volume projections for a 10-year period from 2017 to 2027. The report also presents in-depth insights on the various forces likely to impact market revenue growth in the coming decade.
According to the report, the global active, smart, and intelligent packaging market is estimated to be valued at $18,072.6 million in 2017 and this is expected to increase to $43,361.3 million by the end of 2027, growing at a CAGR of 9.1% over the forecast period.
Increasing consumer preference for products with longer shelf life and case-ready meals, significant changes in consumer preferences, and a highly regulated and controlled packaging industry are anticipated to boost revenue growth of the global active, smart, and intelligent packaging market.
At the same time, strict compliance with stringent packaging laws, absence of appropriate technology, a no positive list system, lack of key regulations, and heavy dependence on imports is expected to stifle global market revenue growth over the forecast period.
Future market trends: Increasing mergers and acquisitions, especially in the North America market, introduction of inks capable of responding to temperature changes, and the use of active, smart, and intelligent packaging to tackle the issue of counterfeits is currently trending the global market.
The global market for active, smart, and intelligent packaging is segmented on the basis of packaging type into Active Packaging (O2 Scavenging Sachets, MAP) and Smart & Intelligent Packaging (TTI Labels, Freshness Indicators, RFID Tags). The Active Packaging segment is expected to grow by almost two times over the forecast period, with an estimated value share of more than 65% by the end of 2027. This segment is expected to represent the highest incremental opportunity of $17,111.9 million over the forecast period.
The global active, smart, and intelligent packaging market is segmented on the basis of application into Food & Beverage (Meat, Poultry & Seafood, Fruits & Vegetables, Dairy Products, Bakery & Confectionary, Processed Food, Others), Pharmaceuticals, Cosmetics, and Others. The Food & Beverage segment is expected to be the largest, with an estimated market share of just under 45% by the end of the forecast period in 2027. The Food & Beverage segment is expected to expand by 2.5 times by the end of the forecast period.
Preview analysis of Active, Smart, and Intelligent Packaging Market: APEJ in a Close Fight with Western Europe for Second Position in Terms of Market Share by 2027: Global Industry Analysis and Opportunity Assessment (2017-2027)
The global active, smart, and intelligent packaging market is distributed across the key geographies of North America, Western Europe, Eastern Europe, Latin America, Asia Pacific Excluding Japan, Japan, and the Middle East and Africa. North America and Western Europe currently lead the global market in terms of market share, both regions holding about 25% value share each of the global market. However, North America is expected to beat Western Europe towards the close of 2027 with a market share of just under 26%, while Western Europe will account for 21% value share by the end of the forecast period.
APEJ is likely to emerge a surprise contender for second position in the global market by the end of 2027, closely behind Western Europe. The APEJ regional market will witness a massive increase of 550 basis points in market share in 2027 over 2017.
The report profiles some of the leading players in the global active, smart, and intelligent packaging market, including PakSense Inc., Landec Corp., Sealed Air Corp., Bemis Co., Crown Holdings Inc., Amcor Ltd., 3M Co., Timestrip UK Ltd., Cryolog S.A., Vitsab International AB, Varcode Ltd., LCR Hallcrest LLC, Thin Film Electronics ASA, CCL Industries Inc., Temptime Corp., Multisorb Technologies Inc., and Coveris Holdings S.A.
