The active, smart, and intelligent packaging market is on a robust growth trajectory, rising from $40.50 billion in 2023 to $43.64 billion in 2024, reflecting a CAGR of 7.7%. This growth is attributed to technological innovations, consumer demand for product freshness and safety, extended shelf life requirements, stringent food safety regulations, and the need for supply chain efficiency. Looking forward, the market is expected to reach $59.14 billion by 2028, at a CAGR of 7.9%. Key growth drivers include cost efficiency, reduced food waste, the expansion of e-commerce, rising healthcare and pharmaceutical sectors, consumer convenience, increased global trade of perishables, and adherence to regulatory standards. Notable trends during the forecast period include heightened demand for freshness indicators, growth in smart packaging solutions for pharmaceuticals, advancements in Internet of Things (IoT) integration, sustainability efforts, anti-counterfeiting technologies, and increased use of nanotechnology.
Major Driver In The Active Smart And Intelligent Packaging Market
The expansion of the food and beverage sector is anticipated to fuel the growth of the active, smart, and intelligent packaging market. Factors such as changing consumer preferences, population growth, and technological advancements are contributing to this industry's growth. Active and smart packaging solutions enhance food safety by monitoring freshness, detecting spoilage, and providing real-time storage condition information, thereby extending shelf life and ensuring product quality. For instance, during the 2020-21 period, food and beverage sales in Australia reached 14.7 million metric tons, marking a 1.4% increase from the previous year. This thriving food and beverage industry is driving demand for innovative packaging solutions.
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Active Smart And Intelligent Packaging Market Competitive Landscape
BASF SE, 3M Company, WestRock Company, Amcor Limited, Smurfit Kappa Group, Dupont de Nemours Inc., Tetra Pak International S.A., Stora Enso Oyj, Mondi Group, Avery Dennison Corporation, Thinfilm Electronics ASA, Sonoco Products Company, Sealed Air Corporation, Huhtamaki Group, Checkpoint Systems Inc., Constantia Flexibles Group GmbH, Sato Holdings Corporation, Coveris Holdings S.A., Wipak Group, Bemis Company Inc., Multisorb Technologies Inc., Clondalkin Group Holdings B.V., PragmatIC Printing Ltd.
Key Active Smart And Intelligent Packaging Market Trend
In the active, smart, and intelligent packaging market, companies are pioneering innovations such as web-based smart packaging to transform supply chain visibility and consumer engagement. This technology integrates sensors and internet connectivity to monitor product conditions like temperature and humidity in real time. For example, in October 2023, Appetite Creative Solutions collaborated with Tetra Pak to launch an interactive smart packaging experience for European fruit juice producers. This packaging utilizes QR codes to provide access to a web app that tracks consumer interaction data, optimizing marketing strategies and improving product understanding.
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Active Smart And Intelligent Packaging Market Segmentation
The active, smart and intelligent packaging market covered in this report is segmented –
1) By Type: Active Packaging, Oxygen Scavenging Sachets, Modified Atmosphere Packaging (MAP), Smart Packaging, Intelligent Packaging, Time And Temperature Indicator (TTI) Labels, Freshness Indicators, Other Types
2) By Material: Plastic, Paper, Glass, Corrugated Board, Metal, Other Materials
3) By Function: Moisture Control, Temperature Indicators, Shelf Life Sensing, Product Tracking
4) By Application: Food And Beverages, Meat, Poultry And Seafood, Fruits And Vegetables, Dairy Products, Bakery And Confectionary, Processed Food, Other Applications
By Geography:The regions covered in the active, smart and intelligent packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the active, smart, and intelligent packaging market in 2023.
The Active Smart And Intelligent Packaging Global Market Report 2024 furnishes information about the global active smart and intelligent packaging market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
