Active Packaging Market Size to Surpass Around USD 49.3 BN by 2030

Los Angeles, Nov. 23, 2022 (GLOBE NEWSWIRE) -- Precedence Research, Recently Announced Report on “Active Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030”.

Demand for ready-to-eat, frozen, and packaged foods has grown as a result of an increase in urban population, improved lifestyles, and more disposable income. Growing worldwide trade practices have raised demand for fresh produce, meat, and frozen goods, which has created need for specialized packaging. Additionally, advanced transportation infrastructure is anticipated to increase international commerce, which is anticipated to benefit the active packaging market. However, it is probable that the market expansion over the projection period would be constrained by the increased cost of adding active packaging materials like sorbents into food packages.

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The COVID-19 outbreak has had a huge impact on the market for active packaging. In order to contain the increasing number of illnesses due to the epidemic, several nations had to go into lockdown. The supply and demand chains have been thrown off as a result, which has had an impact on the global economy. The pandemic crisis forced the suspension of different activities, manufacturing facilities, industries, and infrastructure projects.

The market's growth rate has been constrained by the fluctuating cost of raw materials and the COVID-19 epidemic. Positively, things are beginning to return to normal, which bodes well for the market's future expansion.

Regional Snapshots

The favorable regulatory environment, growing emphasis on sustainability, and rising demand for active packaging across various end-user segments, particularly the food and healthcare industries, have all contributed to the significant growth of the US active packaging market over the past few years. The Food and Agriculture Organization of the United States estimates that each year, 133 billion pounds of food, worth USD 161 billion, are wasted in the United States. Diverting more food-to-food banks, increasing education and outreach, and attempting to standardize date stamps on food labels are just a few of the diverse initiatives being made to prevent food waste. Additionally, the use of active A&I) packaging to reduce food waste is becoming increasingly popular in the United States.

Government initiatives have also played a big role in the expansion of active packaging in the food sector since, in addition to preventing food waste and enhancing food safety, intelligent packaging also has the ability to track the whereabouts and quality of food. For instance, the Food and Drug Association (FDA) and the US Department of Defense (DOD) advocated the use of RFID technology for supply chain management for tracking and tracing items that needed active packaging.

Report highlights

• The market for active packaging has one of the major end-user sectors as the food industry. Modern active packaging materials prevent microbial development in meat and bread products by dispersing small amounts of ethanol into such foods in regulated amounts.
• During the anticipated timeframe, the Asia-Pacific area will have profitable expansion. Demand will increase due to the region's rising need for active packaging from end-user industries
• Oxygen Scavengers are predicted to maintain their market-leading position during the forecast period.
• As a consequence of continuous R&D for the acknowledgment of active packaging's capacity to eliminate preservatives in goods and extend shelf life, the demand for active packaging from big players in the personal care and cosmetics sectors is predicted to expand.
• Government initiatives have a big impact on the rise of active packaging in the food business because, in addition to preventing food waste and enhancing food safety, intelligent packaging can track the whereabouts and state of the food.
  
  

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Scope of the Report

Market dynamics

Drivers

The ageing population, increased chronic illness rates, and expanding OTC medicine demand are all contributing to the healthcare sector's expansion. Investments in active packaging solutions are increasing as a result of rigorous rules regarding the packaging of medicinal items. Due to the growing complexity of things that must be preserved or transported to remote areas while maintaining their integrity, it is projected that the market for active packages will expand over the course of the projection period. The ageing of the population, rising incidence of chronic illness, and rising demand for OTC medications are all factors driving the growth of the healthcare industry. Due to strict regulations governing the packaging of pharmaceutical products, investments in active packaging solutions are rising. Because of the growing complexity of things that must be preserved or transported to remote areas while maintaining their integrity, it is projected that the market for active packages would expand over the course of the projection period.

Restraints

Due to the significant R&D expenditures, the market demand may be constrained in the years to come. The rising price of raw materials raises the cost of application, which is subsequently passed on to the customer. Long-term, this may slow the market's rate of expansion for active packaging.

Opportunities

The active packaging market can expect robust growth in the coming years on account of the rising demand for specialty covering that helps retain freshness as well as the nutritional value of the products at reasonable prices. Advanced transportation facilities can foster global trade, which in turn will leave a tremendous impact on the worldwide market.

The demand for prepared, frozen, and packaged foods has increased as a result of the expanding urban population and their changing lifestyles. The increased interest for exotic produce, frozen goods, and meat due to expanding trade patterns has increased the need for specialist packaging globally. The market demand will be fueled by the shift from traditional to smart packaging solutions, which address both internal and exterior elements of content protection. While intelligent systems provide access to more information on the cover in non-electronic or electronic formats, active packaging aids in product protection.

Convenience store growth and technologically advanced points of sale have increased the demand for intelligent systems. Future active packaging technologies will also be more appealing due to a reduction in tracking time and better product monitoring.

Challenges

There are various environmental issues brought on by the increasing proportion of plastic in solid waste streams. In order to improve food safety and inform customers about the contents, the US FDA (Food and Drug Administration), the EU, and other government regulatory agencies are enforcing strict restrictions governing the use of plastic and other food contact materials. The use of active packaging is anticipated to be restricted by strict government rules about VCIs and other dangerous packaging elements used to package edible goods. Thus, throughout the forecast period, the government regulations against plastic packaging are anticipated to hinder the growth of the worldwide active packaging market.

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Recent developments

• Aptar, a pioneer in medicine delivery, active packaging, and consumer dispensing solutions, announced in February 2020 that it had purchased FusionPKG. Leading supplier of premium airless and colour cosmetics packaging is FusionPKG. With this transaction, Aptar's Beauty + Home sector margins will increase.
• In the year 2019, Aptar purchased a 49% ownership stake in three connected BTY firms, a major Chinese maker of colour cosmetics packaging. Aptar will have access to unique and complementary skills thanks to this strategic investment.
• Amcor finalized the acquisition of Bemis Firm Inc. in 2019. With this acquisition, the company will be able to improve its position in the market by expanding its capabilities and increasing its reach.
  
  

Market Segmentation

By Type

• Oxygen Scavenger
• Shelf-life sensing
• Time Temperature Indicator
• Moisture Absorber
• Others
  
  

By Application

• Food and Beverage
• Healthcare
• Pharmaceutical
• Personal Care
• Others
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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