Global Active Smart and Intelligent Packaging Market Will Cross USD 23.76 Billion Mark By 2023

Market Synopsis 

The increase in the demand for packaged goods, consumer convenience,manufacturers focus on the longer shelf life of the food products are active in the market. However, high implementation cost and huge investment in research and development for better products development are restraining the market growth.

Key Players

Some of the key players in the global Global Active Smart and Intelligent Packaging Market includes Amcor Limited (Australia), Ampacet Corporation (U.S.), Ball Corporation (U.S.), Bemis Company, Inc. (U.S.), Constar International Inc.(U.S.), Crown Holdings Incorporated (U.S.)

Regional Analysis

The global market is segmented on the basis of geography: Asia Pacific, North America, Europe, and the Middle East & Africa. Regions such as North America and Europe are dominating the Global Active Smart and Intelligent Packaging Market due to stringent legislation regarding food and beverage packaging and technological advances in the field of active packaging. Asia Pacific is expected to experience the fastest growth during the forecasted period due to the economic growth of China and India. The increasing demand for fresh and quality packaged food, consumer convenience, and manufacturers concern for the longer shelf life of the food products are providing an opportunity to the Asia Pacific region to grow further.

Segmental Analysis

On the basis of technology, the market has been segmented into moisture absorbers, temperature indicators, oxygen scavengers, shelf life sensing and others. Based on application, the market has been segmented into personal care, healthcare, food & beverages and others.

Latest Industry Trends and News

Packaging solution provider, Sonoco, recently announced the acquisition of Florida-based Highland Packaging Solutions, a thermoformed packaging specialist for items such as vegetable, eggs and fresh fruits.

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