The global demand to get information about the state of the product, real-time feed to track products during transfer, and support logistics are major reasons spurring the growth of the Active & Intelligent Packaging Market. Market Research Future (MRFR) believes that this market could score past USD 23.76 bn valuation during the forecast period of 2018 to 2023. Other factors like the involvement shown by end user industries to ensure product state through packaging, intentions to expand shelf life, government regulations to maintain a safe standard especially in the food and beverage sector, the inclusion of top-end products, and technological support can help the market grow.
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The global report, with details of the active & intelligent packaging market, is banking on a proper segmentation to get to the core. This segmentation includes technology and application as a part of the report. The assessment has its focus on providing insights and bolstering market growth by assisting in forming strategies.
By technology, the report discussing the active and intelligent packaging market reveals segments like oxygen scavenger, shelf life sensing, temperature indicators, moisture absorbers, and others.
By application, the global report on the active & intelligent packaging market includes a discussion on food & beverage, personal care, healthcare, and others. The demand to know the exact state of food is boosting the food and beverage segment.
Ampacet Corporation (U.S.), Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Ball Corporation (U.S.), W.R. Grace and Company (U.S.), Constar International Inc.(U.S.), Crown Holdings Incorporated (U.S.), Klockner Pentaplast (Subsidiary Of Blackstone Group) (U.S.), Graham Packaging Company Inc.(U.S.), Mitsubishi Gas Chemical Company (Japan), Landec Corporation (U.K.), and Rexam plc. (U.K.) are making significant progress in the global active and intelligent packaging market. These companies are putting in efforts and devising strategies to support market growth. Methods these companies use mainly involve a merger, innovation, branding, acquisition, research and development benefits, hike in funding, and others. MRFR listed their recent developments to understand trends and market flow, which would help in a proper analysis of the market state.
North America and Europe may control the market as their technological infrastructures are helping the market get better grounds. In Asia Pacific, the market may get a chance to score the fastest CAGR during the forecast period.
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In August 2020, GS1, the Brazilian Automation Association, announced that it has created the GS1 Registry Platform to support the rising developments in technologies that are constantly changing the landscape encompassing various packaging systems like barcodes, radio frequency identification, (RFID) and digital printing. This is a bid to standardize the process and maintain a proper international level. This would allow all the supply chain members and product consumers access to accurate information, including expiration dates, characteristics, lot numbers, and others that could prove the product's authenticity.
In August 2020, Kunal Enterprise, a company from Mumbai and Germany's Saralon announced a partnership to introduce printed electronics for smart packaging. The initiative would mainly deal with systems in India. It would introduce printed electronics technology in packaging, POS and POP displays, and label in the Indian market. Saralon is closely associated with Chemnitz University, Germany, which is known for developing printed electronics technology.
The global market for active and intelligent packaging has a chance to get influenced by the COVID-19 pandemic. During the crisis, many countries relied on these technologies to ensure better handling of products, which bolstered market growth.
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