Last Updated on March 25, 2023 by hassan abbas
Research Nester published a report titled “Active Smart and Intelligent Packaging Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global active smart and intelligent packaging market in terms of market segmentation by packaging type, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global active smart and intelligent packaging market is projected to grow at a CAGR of ~7% by attaining substantial revenue during the forecast period, i.e., 2023 – 2033. The rising demand for airless packaging in the cosmetics industry is anticipated to propel the growth of the market during the forecast period.
It is observed that about 40% of the skincare industry is comprised of the cosmetics segment. Additionally, growing sales of deodorants are further estimated to propel the market growth over the forecast period. For instance, nearly 300 million Americans were projected to be utilizing deodorants in 2020.
Active Smart and Intelligent Packaging Market Scope
Additionally, by application, the global active smart and intelligent packaging market is segmented into food & beverages, pharmaceuticals, and others. Out of these sub-segments, the food & beverages segment is estimated to obtain the largest share of the market during the forecast period.
The growth of the segment can be accounted to higher demand for active smart and intelligent packaging to pack ready-to-eat meals for distribution. In 2022, approximately 275 billion was generated by the food segment worldwide.
Furthermore, the global active smart and intelligent packaging market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a rapid pace over the forecast period on the back of escalating demand for packaging in the food & beverage industry.
For instance, the food and beverage industry was projected to generate total revenue of about USD 680 billion in the United States.
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Higher Consumption of Milk to Foster the Growth of the Market
As of 2021, about 20 million metric tons of cow milk were consumed by the global population.
Milk is a basic requirement and is included in the everyday meals approximately in every family. It is a difficult task to preserve milk for a longer duration and keep it for days to distribute. If the milk isn’t packed properly, it can go sour easily hence the manufacturers are exposed to the need for active smart and intelligent packaging. Therefore, such a higher requirement is anticipated to propel the growth of the market during the forecast period.
However, the presence of alternatives in the market and the disrupted supply chain due to COVID-19 is expected to operate as a key restraint to the growth of the global active smart and intelligent packaging market over the forecast period.
Smart Packaging Key Players
This report also provides the existing competitive scenario of some of the key players in the global active smart and intelligent packaging market which includes company profiling of Shockwatch Pty Ltd, 3M Company, Timestrip UK Ltd, LCR Hallcrest LLC, Cryolog S.A., Amcor plc, Deltatrak Inc., COSMOGEN SAS, Varcode LTD., PakSense, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments.
On the whole, the report depicts a detailed overview of the global active smart and intelligent packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives to take wise decisions for their future marketing strategy, expansion and investment, etc.
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