Global active smart and intelligent packaging market by product (Gas Scavengers, Corrosion Control Packaging, Moisture Control Packaging, Subsector Packaging, QR Code, and others), Application (Food & Beverages, Pharmaceuticals, Automotive, Electronics, and others), and Region - Forecast to 2023
Intelligent Packaging Market Overview
Intelligent packaging is a system capable of carrying out intelligent functions like sensing, tracing, detecting, recording, communicating and applying scientific logic with the objectives of extending the shelf life of a product, improving quality, enhancing safety and providing all necessary information. There are various intelligent packaging systems such as indicators, radio frequency identification type and sensors. The aim is to detect and communicate information about the condition of the product, without taking any direct action.
The rising cases of maladies caused by foods has led to manufacturers take preventive action. Intelligent packaging, also known as active packaging, are systems put in place to guarantee the freshness of content within. Rising focus on sustainability is expected to propel the demand in active packaging. The global intelligent packaging market report by Market Research Future (MRFR) comprises latest technologies and applications of the product.
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Key market players include
- BASF SE
- International Paper
- Smartrac N.V.
- Huhtamaki Group
- TempTime Corporation
- American Thermal Instruments
- R. Donnelly Sons & Company
- Thin Film Electronics ASA
- Stora Ens
- Avery Dennison
May 2019 - Thinfilm, a Norway company, specializing in electronic labels embedded with near-field communications (NFC) is planning to restructure its process lifecycle in response to market dynamics. By shifting its operations to United States, it saved on operational expenditure and focusing on finding partners which can extend its application.
Feb 2019 – Stora Enso, a Norway company with a focus on renewable energy solutions, has created a separate unit for intelligent solutions. It has been advertising solutions based on RFID which ensure seamless transfer of electronic data. These solutions can streamline the supply chain of logistics, retail, ecommerce, and food & beverage companies ensuring speed-to-market.
Intelligent Packaging Market Prospects
The global active smart and intelligent packaging market is expected to experience massive demand from 2017 to 2023 (forecast period) thanks to increased efforts taken by manufacturers for maintaining the integrity of the product. High demand within the foods industry is projected to be one of the biggest drivers within the market. The use of sensors and indicators for minimizing waste and ensuring the quality of foods can drive the market demand considerably.
Rising numbers in population aided by urbanization and consumerization is predicted to spur the intelligent packaging market. In addition, other applications such as ecommerce are likely to rely on such methods to ensure customer service. The logistics industry is another proponent of the intelligent packaging market with the help of technologies such as radio frequency identification (RFID) tags and cloud technology for monitoring the transport of goods.
Moreover, packaging solutions which are easy to use and informative are expected to entice customers with their purchasing decisions is likely to play a major role in the intelligent packaging market.
The active smart and intelligent packaging market is segmented by product and application.
By product, it is segmented into corrosion control packaging, subsector packaging, moisture control packaging, gas scavengers, QR code, and others. The gas scavengers segment is expected to hold a large market share over the forecast period due to policies emphasizing on quality and safety. Developments to ensure freshness of foods can boost segment growth. In 2017, Mitsubishi Gas Chemical introduced its oxygen absorbing technology to extend the shelf life of foods.
By application, it is segmented into pharmaceuticals, electronics, automotive, food & beverages, and others. The food & beverages segment is expected to trigger high demand from the market over the assessment period. This can be credited to the burgeoning populace and changing working conditions which rely on packaged foods for sustenance. Increased demand for self-heating and self-cooling applications coupled with long shelf life
North America is predicted to be the best-performing region in the global active smart and intelligent packaging market till 2023. This can be attributed to changing lifestyles of consumers and their purchasing power.
The Asia Pacific (APAC) region can create a huge windfall for the global market thanks to countries of South Korea, China, and India. Rise of foreign direct investment in the retail sector is bound to boost adoption of technology-specific applications. Advanced versions of active packaging which releases controlled dosage of ethanol to keep foods fresh are likely to bolster market demand significantly.
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