Active, Smart And Intelligent Packaging Market Growth Outlook Through 2024-2033

Sep 3, 2024 - 12:19

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Active, Smart And Intelligent Packaging Market Growth Outlook Through 2024-2033

Overview and Scope
The active, smart, and intelligent packaging market consists of sales of temperature-sensitive labels, freshness indicators, moisture absorbers, and antimicrobial agents. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast
The active, smart and intelligent packaging market size has grown strongly in recent years. It will grow from $40.50 billion in 2023 to $43.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to advancements in technology, consumer demand for freshness and safety, extended shelf life requirements, stringent food safety regulations, environmental concerns, sustainability, and supply chain efficiency.

The active, smart, and intelligent packaging market size is expected to see strong growth in the next few years. It will grow to $59.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to cost efficiency and reduction of food waste, growth of e-commerce and online retail, rising healthcare and pharmaceutical industries, consumer convenience, increase in the global trade of perishable goods, and Regulatory Standards and Compliance. Major trends in the forecast period include increased demand for freshness indicators, growth in smart packaging solutions for pharmaceuticals, advancements in Internet of Things (IoT) integration, sustainability and eco-friendly materials, rise in anti-counterfeiting technologies, and increased use of nanotechnology.

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Segmentation & Regional Insights
The active, smart and intelligent packaging market covered in this report is segmented –

1) By Type: Active Packaging, Oxygen Scavenging Sachets, Modified Atmosphere Packaging (MAP), Smart Packaging, Intelligent Packaging, Time And Temperature Indicator (TTI) Labels, Freshness Indicators, Other Types
2) By Material: Plastic, Paper, Glass, Corrugated Board, Metal, Other Materials
3) By Function: Moisture Control, Temperature Indicators, Shelf Life Sensing, Product Tracking
4) By Application: Food And Beverages, Meat, Poultry And Seafood, Fruits And Vegetables, Dairy Products, Bakery And Confectionary, Processed Food, Other Applications

North America was the largest region in the active, smart, and intelligent packaging market in 2023. The regions covered in the active, smart and intelligent packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The expansion of the food and beverage industry is expected to propel the growth of the active, smart, and intelligent packaging market going forward. The food and beverage industry encompasses the production, processing, distribution, and sale of edible goods and non-alcoholic drinks. The expansion of the food and beverage industry is driven by factors such as changing consumer preferences, population growth, globalization, and technological advancements. Active, smart, and intelligent packaging in the food and beverage industry enhances safety by monitoring freshness, detecting spoilage, and providing real-time information on storage conditions, thereby extending shelf life and ensuring product quality. For instance, in March 2022, according to the Australian Bureau of Statistics, an Australian government statistical agency, in the 2020–21 period, supermarkets, grocery stores, convenience stores, specialty food stores, and fresh food markets in Australia collectively sold 14.7 million metric tons of food and non-alcoholic beverages. This marked a 1.4% increase (equivalent to 204,100 metric tons) compared to the preceding 12 months (2019–20). Therefore, the expansion of the food and beverage industry is driving the growth of the active, smart, and intelligent packaging market.

Key Industry Players
Major companies operating in the active, smart and intelligent packaging market are BASF SE, 3M Company, WestRock Company, Amcor Limited, Smurfit Kappa Group, Dupont de Nemours Inc., Tetra Pak International S.A., Stora Enso Oyj, Mondi Group, Avery Dennison Corporation, Thinfilm Electronics ASA, Sonoco Products Company, Sealed Air Corporation, Huhtamaki Group, Checkpoint Systems Inc., Constantia Flexibles Group GmbH, Sato Holdings Corporation, Coveris Holdings S.A., Wipak Group, Bemis Company Inc., Multisorb Technologies Inc., Clondalkin Group Holdings B.V., PragmatIC Printing Ltd.

The active, smart and intelligent packaging market report table of contents includes:

1. Executive Summary
2. Active, Smart And Intelligent Packaging Market Characteristics
3. Active, Smart And Intelligent Packaging Market Trends And Strategies
4. Active, Smart And Intelligent Packaging Market - Macro Economic Scenario
5. Global Active, Smart And Intelligent Packaging Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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