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Active Smart and Intelligent Packaging Market Analysis by Packaging Type {Active Packaging (Modified Atmosphere Packaging and Oxygen Scavenging Sachets), and Smart & Intelligent Packaging (Freshness Indicators, Time & Temperature Indicator Labels, and Radio Frequency Identification Tags)}; by Application (Food & Beverages and Others); and by End-User (Skin & Hair Care, Nail Care, Cosmetics and Others) - Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Timestrip UK Ltd. unveils its new technology indicator, the Timestrip neo. The device uses a series of electronic indicators based on the platform for a series of single-use that is suitable for pack-level monitoring.
  • Varcode LTD. to merge its path with General Data Company, Inc., a well-recognized company and leading provider of packaging, labeling, data management, and other equipment services. The collaboration took place to develop cold chain wireless and temperature monitoring system.

Global Active Smart and Intelligent Packaging Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

~USD 28 Billion

Forecast Year Market Size (2033)

~USD 45 Billion

The global active smart and intelligent packaging market is estimated to garner revenue of ~USD 45 billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated revenue of ~USD 28 billion in the year 2022. The growth of the market can primarily be ascribed to the significant demand for active smart and intelligent packaging in pharmaceuticals to keep medicine safe, long-lasting, and usable. For instance, in 2021, it was observed that around USD 1.5 trillion was spent on medicines.  

Active-Smart-and-Intelligent-Packaging-Market

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Global active smart and intelligent packaging market trends such as, rising inclination toward various types of cosmetic products and increasing awareness of personal grooming are projected to influence the growth of the market positively over the forecast period. For instance, the cosmetics segment comprises nearly 40% of the skincare industry while about USD 50 billion is generated by the sales of cosmetics in the USA every year. Active smart and intelligent packaging is very useful since it increases the health properties and shelf life of the product. Furthermore, active smart and intelligent packaging is divided into two types, active and intelligent packaging. Intelligent packaging is associated with utility and communication. Hence, all these factors are estimated to propel the growth of the market.

Global Active Smart and Intelligent Packaging Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Consumption and Distribution of Milk Across the Globe

For instance, approximately 80 million metric tons of cow milk were consumed across the globe in 2021.

Milk is consumed in every household setting on a daily basis and thousands of companies are distributing milk across the globe. It becomes important to keep milk consumable for several days without losing its health properties. Hence, active smart, and intelligent packaging comes in handy to preserve dairy products for a longer period by managing the temperature and moisture.

  • Growing Demand in Hair & Skin Care Industry  

As of 2020, the skin care segment was estimated to grow by 25% of the entire beauty & personal care.

  • Increasing Utilization of Deodorants Across the Globe  

It is estimated that in 2020, about 300 million Americans were using deodorants and the number is further estimated to reach about 310 million by 2024.

  • Up-Surged Distribution of Nail Care Products

About 100 million women were noticed to be utilizing nail polish or nail care products in 2020.

Challenges

  • Presence of Alternatives in the Market
  • Disrupted Supply-Chain due to COVID-19
  • Requirement for Higher Initial Investment

The global active smart and intelligent packaging market is segmented and analyzed for demand and supply by application into food & beverages, pharmaceuticals, and others, out of which, the food & beverages segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the higher utilization of active smart and intelligent packaging to pack the ready-to-eat meals for distribution. For instance, in 2022, the food segment across the globe was projected to generate total revenue of about USD 275 billion.

Global Active Smart and Intelligent Packaging Market Regional Synopsis

Regionally, the global active smart and intelligent packaging market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed to higher demand for packaging in the food & beverage industry. As of 2021, the total revenue generated by the food and beverage industry was estimated to drop to approximately USD 680 billion solely in the USA. Moreover, the growing export and import of dairy product is further estimated to hike the growth of the market over the forecast period.

Active-Smart-and-Intelligent-Packaging-Market-Scope

The global active smart and intelligent packaging market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global active smart and intelligent packaging market includes the following segments:

By Packaging Type

  • Active Packaging
  • Modified Atmosphere Packaging
  • Oxygen Scavenging Sachets
  • Smart & Intelligent Packaging
  • Freshness Indicators
  • Time & Temperature Indicator Labels
  • Radio Frequency Identification Tags

By Application

  • Food & Beverages
  • Pharmaceuticals
  • Others

By End-User

  • Skin & hair Care
  • Nail Care
  • Cosmetics
  • Dairy products
  • Perfumes
  • Others

Top Featured Companies Dominating the Global Active Smart and Intelligent Packaging Market

  • Shockwatch Pty Ltd
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • 3M Company
  • Timestrip UK Ltd
  • LCR Hallcrest LLC
  • Cryolog S.A.
  • Amcor plc
  • Deltatrak Inc.
  • COSMOGEN SAS
  • Varcode LTD.
  • PakSense, Inc.

 

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