Active Smart and Intelligent Packaging Market Scope, Future Growth And Opportunity Outlook 2023-2033

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

The global active smart and intelligent packaging market is estimated to garner a 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 a 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 in United States. The medicines are supposed to be kept safe from climatic changes such as extreme heat or cold. Moreover, it is necessary to prevent them from physical damage, as it can break or leak the contents inside them. The API or active ingredient, in pharmaceuticals should be protected from light and damp environments. The impurities in the air, including certain gases, can react with the medicine inside the packaging, which spoils the therapeutic value. The packaging also maintains the quality of the drug.

Active-Smart-and-Intelligent-Packaging-Market-overview

The increasing inclination of cosmetic and personal care product manufacturers towards active smart and intelligent packaging across the world is estimated to project market growth in the coming years. Moreover, as per the estimations in the USA cosmetics comprise about 40% of the skincare industry with more than USD 50 billion worth of cosmetic sales annually. Moreover, active smart and intelligent packaging plays a crucial role in maintaining the shelf life and healthier properties of the product for a longer time. Active smart and intelligent packaging are categorized into two variants, which include active and intelligent packaging. Intelligent packaging mainly involves utility and communication data. All these factors together are estimated to propel the growth of the market during the forecast period.

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 the Hair & Skin Care Industry with Increasing Disposable Income of People- As of 2020, the skin care segment was estimated to grow by 25% of the entire beauty & personal care.
Increasing Utilization of Deodorants by a Large Population to Mask the Bad Body Odor- 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 with Increasing Preference to Look Good- About 100 million women were noticed to be utilizing nail polish or nail care products in 2020.

Challenges

Presence of Alternatives in the Market - There are many cheaper alternatives for active packaging, as they involve many quality checks and raw materials in the production process. Electric, chemical, and mechanical technologies are used in manufacturing which increases the price of these products. The availability of cardboard boxes, paper wraps, aluminum sheets, and gelatin films for packaging is estimated to limit the market growth.
Disrupted Supply-Chain due to COVID-19
Requirement for Higher Initial Investment

Market Segmentation

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 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. The increasing preference for packaged foods among people as everyone is busy with their jobs and responsibilities. Also, not all countries have the same type of vegetables, which makes nonregional food items unavailable, and this is made possible by the availability of canned and frozen foods. All types of vegetables and fruits can be stored in a frozen state to enjoy in non-seasonal times. Therefore, all these factors are expected to increase market segment growth, which in turn drives the market growth.

The global active smart and intelligent packaging market is also segmented and analyzed for demand and supply by end-user into skin & hair care, nail care, cosmetics, and others. Amongst these segments, the cosmetics segment is expected to garner a significant share in the upcoming years. The rising beauty standards across the world, and the increasing preference of people to maintain skin care are projected to boost the growth of the market. As per the observations, over 40% of people in the U.S. spend about USD 1 to USD 45 a month for online beauty products as of 2021. The cosmetic industry is directly linked with the fashion industry, as cosmetics are used to enhance the beauty of a person by making the skin more elegant and classier. Furthermore, cosmetics are also used to mask the skin disorders such as dark spots, dark circles, pigmentation, wrinkles, and aging. No one wants their beauty palate to be broken and smudged with leakages. Therefore, smart active and intelligent packaging play an important role in the cosmetics industry. Lipsticks, lotions, body oils, and shampoos all come in liquid form, which is more prone to leaking. Also, some cosmetic serums are only packed in glass bottles to prevent reactions with sunlight and plastic materials. Thus, the packaging is very crucial in the cosmetics segment which, is predicted to increase the market’s growth in the coming years as per the market analysis.

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

Global Active Smart and Intelligent Packaging Market Regional Synopsis

The North America active smart and intelligent packaging market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the 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 add to approximately USD 680 billion solely in the USA. Moreover, the growing export and import of dairy products are further estimated to hike the growth of the market over the forecast period. An increasing number of people prefer outside food and ready to eat food as they taste good. Also, there are many people who cannot afford to spend hours in the kitchen cooking fresh meals. Further, outside food is much cheaper in the U.S., and in most families, both adults are working, which makes it impossible to cook more often. Also, an increasing number of immigrants to America for jobs or education prefer to eat outside as they cannot afford to prepare a meal at the same price.

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

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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.

In The News

Timestrip UK Ltd. introduced an electronic indicator at less price for single-use electronic temperature indicators. The Trimestrip neo is the new indicator that provides both time and multiple temperature readings for pack level monitoring.
Varcode LTD. partners with General Data Company, Inc., to develop their Varcode Smart Data Solutions that include Smart tags. These tags are temperature-sensitive monitoring systems with a scanning code that stores and indicates the data of all the temperature tracking.

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the active smart and intelligent packaging market?

Ans: Growing demand in the hair & skin care industry and increasing utilization of deodorants are estimated to majorly boost the market growth.

2) What would be the CAGR of active smart and intelligent packaging market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the active smart and intelligent packaging market growth?

Ans: The presence of alternatives in the market and disrupted supply-chain due to COVID-19 is estimated to challenge the market growth.

4) Which region will provide more business opportunities for growth of active smart and intelligent packaging market in future?

Ans: The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the active smart and intelligent packaging market?

Ans: The major players in the market are 3M Company, Timestrip UK Ltd, LCR Hallcrest LLC, Cryolog S.A., Amcor plc, Deltatrak Inc., COSMOGEN SAS, Varcode LTD., PakSense, Inc., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the active smart and intelligent packaging market?

Ans: The market is segmented by packaging type, application, end-user, and by region.

8) Which segment captures the largest market size in application in the active smart and intelligent packaging market?

Ans: The food & beverages segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)