Knowledge Sourcing Intelligence announces the publication of a new report on “Active Packaging Market - Forecasts from2020 to 2025" to their offering.
According to the European regulation (EC) No. 450/2009, active packaging is defined as “a packaging system that interacts with the food by deliberately incorporate components that would release or absorb substances into or from the packaged food or the environment surrounding the food”.
According to the report, the Active Packaging Market is projected to increase at a CAGR of 6.74% in the coming years.
Growing global demand for packed food and beverage items
Growing middle class population base with increasing urbanization has shifted the preference towards convenient food and beverage products. With working population keeps on rising, people are demanding more and more of ready-to-eat and ready-to-make food products to save time. This, in turn, surging the demand for active packaging solutions, thereby driving the market growth. The expansion of supermarket and hypermarket chains is also making easy for people to buy packed food and beverage items, including fresh frozen food with longer shelf life. As such, this factor is also contributing to the market growth of active packaging worldwide. Rising demand for consumer electronics is further escalating the market growth of active packaging.
Another major driver is the increasing incidence of chronic diseases across the globe. Rising number of people suffering from diseases such as asthma and diabetes is boosting the demand for medicines. Moreover, growing global geriatric population is also augmenting the demand for medicines and medical equipment. As a result, the demand for active packaging is further surging across the pharmaceutical and healthcare sector which is positively impacting the overall market growth.
By packaging technology, the global active packaging market has been segmented as oxygen scavengers, moisture controllers, antimicrobial agents, UV blocking, temperature indicators, and others. By application, the global active packaging market has been classified into food, beverages, pharmaceuticals and healthcare, electronic products, consumer care, and others.
By geography, Active Packaging market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Asia Pacific (APAC) accounted for the substantial market share in 2019. Rising disposable incomes and increasing urbanization is boosting the demand for convenient and ready to eat food in countries like China and India which, in turn, is bolstering the demand for active packaging solutions across this region. Furthermore, companies across food and beverage industry are expanding their production facilities in this region which is also a driving factor for the active packaging market in Asia Pacific. The presence of a large number of pharmaceutical companies and continuous rise in exports of medicines will continue to drive the growth of active packaging market in this region throughout the forecast period. China is the manufacturing hub of consumer electronics, exporting various products around the world. With the presence of global electrical and electronic giants in this country, along with India, Taiwan, and South Korea, the APAC active packaging market is projected to grow at a considerable CAGR during the forecast period. Europe also holds a decent share in the global active packaging market owing to the stringent regulations regarding food safety in the region. North America is also projected to experience a noteworthy compound annual growth rate during the forecast period owing to the high awareness among consumer about benefits of active packaging solutions.
The major players covered as part of the report are BASF SE, DuPont, Amcor Ltd., MicrobeGuard Corporation, Sealed Air Corporation, and Dessicare Inc.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/active-packaging-market
This report has segmented the Active Packaging marketon the basis following terms: