The global active packaging market size was USD 14.53 billion in 2022. The market is projected to expand from USD 15.21 billion in 2023 to USD 22.00 billion by 2030, exhibiting a CAGR of 5.4% over the estimated period.
Information Source – https://www.fortunebusinessinsights.com/active-packaging-market-105236
The surge is being driven by the usage of several technologies such as ethanol release, gas emitter, ethylene scavenging, water vapor elimination, carbon dioxide discharge, and others.
Segments:
Gas Scavenger/Emitter Segment to Gain Traction Owing to Rising Technology Adoption
On the basis of packaging technology, the market is categorized into antimicrobial agents, gas scavengers/emitters, microwave susceptors, moisture absorbers, and others. The gas scavenger/emitter segment is expected to record appreciable expansion over the projected period. The rise is due to the increasing popularity of the technology for various purposes.
Food & Beverages Segment to Register Appreciable Growth Due to Surging Demand for Easy-to-use Packaging Solutions
Based on end-user, the market is segmented into food & beverages, shipping & logistics, pharmaceutical, agriculture, electronics and electrical, personal care & cosmetics, automotive, and others. Of these, the food & beverages segment is estimated to register notable growth throughout the forecast period. The surge can be attributed to the increasing usage of active packaging for packaging confectionary, ready-to-eat products, and beverages.
Based on geography, the market for active packaging has been analyzed across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Report Coverage:
The report delves into the vital trends propelling the global business scenario over the forthcoming years. It further provides an insight into the major factors boosting industry expansion over the study period. Some of the additional aspects of the report include the pivotal steps taken by key market participants for the consolidation of their industry position.
Drivers and Restraints:
Market Value to Surge Owing to Changing Lifestyle Across Various Regions
The market growth is being driven by the expanding urban population and changing lifestyles across the globe. This has propelled the demand for prepared, frozen, and packaged foods.
However, the industry expansion may be hampered on account of the high costs of production.
Regional Insights:
North America to Lead Owing to Expanding Packaging Industry in the Region
The North American active packaging market share is expected to register substantial expansion over the projected period. The rise can be attributed to the rapidly increasing packaging industry in the region.
The Europe market is set to grow at a considerable pace over the study period. The surge is driven by the escalating need for active packaging in the region.
Competitive Landscape:
Key Players Enter into Partnership Agreements to Strengthen Market Foothold
Leading companies are entering into partnership agreements and collaborations for the expansion of their product reach. Some of the additional steps include acquisitions, merger agreements, and the formation of alliances. Other initiatives comprise rising participation in trade conferences and the launch of new products.
Key Industry Development:
November 2022 – Amcor PLC announced the rollout of SureForm Pro ICE Forming Films. The solutions protect products from damage and contamination, ensuring device functionality and safety for patients.
List of Key Players Mentioned in the Report:
- Amcor Plc (Switzerland)
- Avery Dennison (U.S.)
- 3M (U.S.)
- Grace and Company (U.S.)
- Ampacet Corporation (Thailand)
- Accutech Packaging (U.S.)
- AIMPLAS Inc (Spain)
- Amelco Desiccants Inc.(Philippines)
- BASF SE & DUPONT (Germany)
- Graham Packaging Company (U.S.)
- Aptar Group Inc (U.S.)
- Amerplast Ltd (Finland)
- MicrobeGuard Corporation (U.S.)
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