Active And Smart Packaging Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018-2022 and Forecast 2023-2029

Description

Active and Smart Packaging Market size was valued at USD 25,982.4 million in 2022 and is expected to grow at a CAGR of 5.9% from 2022-2028. Active packaging is the incorporation of additives into packaging systems, with the goal of maintaining or extending fresh vegetable or livestock products quality and products life and smart packaging means packaging systems installed with sensor technology used with foods, pharmaceuticals, and many other products. The global active and smart packaging market is expected to grow at a significant growth rate, due to the increasing population size which is resulting in adopting the urban lifestyle, western cultures, and others, where this adoption of these lifestyles are fueling the demand for packaged foods. In addition, the packaged foods are further selected based upon their packaging and this is leading to the advancement of packaging techniques. Moreover, the growing demand for importing specific fruits and vegetables, meat, other products from other countries which is fueling the growth of global trade practices has caused the growth for global active and smart packaging industry. The main benefit of active and smart packaging lies in the capability to interact with the confined product, which shows up a dynamic role in the preservation of product, and safeguards the products life. The barcodes encoded on the packages of food keeps track of tagged information throughout the supply chain. active packaging may change food composition and organic related characteristics. However, few restraints of the active and smart packaging is, it also raises contamination issues, as plastic discharge into foods may lead to health complications. Furthermore, the outburst of the COVID-19 pandemic has led to an increase in visible behavioral changes due to a higher inclination toward safe and traceable food on e-commerce platforms and raised public consciousness of health and safety in general. The growing demand for active and smart packaging in the food and beverages industry, has lead to shift the trend form traditional packaging to the smart packaging.  Hence, the growing demand for packed foods, adopting urban lifestyles are fueling the growth of the global active and smart packaging market.

Critical Developments in Global Active and Smart Packaging Market

In April 2022, Amcor announced the introduction of an open-call initiative to support seed-stage start-ups focused on innovative packaging solutions and related technologies.

In April 2022 – Sealed Air introduced PRISTIQ, a digital packaging brand with a portfolio of solutions for design services, digital printing, and smart packaging, eliminating waste and excess packaging while enhancing products and customer engagement.