Active, Smart And Intelligent Packaging market is valued at $8.95bn in 2019

Tuesday 15 January 2019, Amsterdam

In recent years, the demand and consumption of ready-to-eat, frozen, and packaged food has increased at a considerable rate across the globe. This is primarily attributed to the growth of the urban population and a change in consumer lifestyle trends. Additionally, increasing awareness among manufacturers to tackle counterfeit products, especially in developing countries, is anticipated to boost the growth of active, smart and intelligent packaging at a significant rate during the forecast period between 2019 and 2029.

The active, smart and intelligent packaging market is estimated to be valued at US$ 8,954m in 2019 and is expected to record fairly moderate growth rates over the next ten years. This is primarily attributed to Increasing awareness among consumers about foodborne diseases, and this has increased the demand for fresh and better-quality food products. In contrast, high installation and implementation cost and security issues are some of the major concerns identified in the market that are anticipated to hinder the growth of the market, especially in developing countries during the forecast period between 2019 and 2029.

The report analyst commented "Increasing awareness among manufacturers to tackle counterfeit products especially in developing countries is anticipated to boost the growth of active, smart and intelligent packaging at a significant rate during the forecast period. The increasing use of active and smart packaging materials to maintain freshness of semi-prepared foods, fruits, and vegetables during transit is boosting growth of the market across the globe. Also, changes in package structure and features are leading to benefits such as space saving and reduction in weight, thereby, minimising significant cost."

Leading companies featured in the report who are offering active, smart and intelligent packaging solutions and services include BASF SE, Crow Holdings Inc., Amcor Ltd., Ball Corporation, Sonoco Product Co., WestRock Company, Tetra Laval, DS Smith Plc, Graphic Packaging Holding Co., and AptarGroup Inc.