Active Packaging Market estimated to grow at a CAGR of 7.04% to reach US$28.608 billion by 2024

Knowledge Sourcing Intelligence announces the publication of a new report on “Active Packaging Market – Forecasts from 2019 to 2024" to their offering.

Active Packaging is defined as packaging that enhances the performance of the package system by extending the shelf life of food and beverage items. Active packaging technologies include some chemical, biological, and physical activity which changes interactions between a package and the product while ensuring that the product remains good to consume till the end of its shelf-life. Oxygen scavengers, moisture controllers, antimicrobial agents, and UV blocking are some of the major active packaging technologies being used for increasing the shelf life of the products and keep them free from contamination.

According to the report, the Active Packaging market is projected to increase at a CAGR of 7.04% over the forecast period 2018-2024.

Booming demand for ready-to-eat and ready-to-make various food and beverage products is the major factor that is driving the demand for active packaging. Rising female working population along with rising overall purchasing power and living standards is encouraging people across the globe to opt for packaged food and beverage products to save time. This, in turn, is pressurizing packaging solution providers to offer innovative packaging solutions which provide extended shelf-life to the product. Another factor that is boosting the demand for active packaging solutions is the growing pharmaceutical industry. Rising demand for OTC (over-the-counter) drugs across different regions is also boosting the adoption of active packaging solutions for various drugs and medicines as well as medical devices. Also, growing global e-commerce industry will continue to bolster the growth of active packaging market throughout the forecast period.

The active packaging market is segmented as technology, application, and geography. On the basis application, food industry holds the major market share and is expected to maintain its dominance till the end of the forecast period owing to the rising global population base coupled with increasing disposable incomes and urbanization. With a surge in per capita incomes across different regions, the demand for ready-to-eat and ready-to-make processed food is augmenting as consumers are increasingly shifting towards convenient food products. Moreover, the escalating demand for pet food is also fueling the growth of this segment. Pharmaceuticals and healthcare is another significant segment which will experience the tremendous growth on account of rising geriatric population, rising number of patients suffering from chronic diseases, and increasing demand for OTC drugs. Since there are strict regulations regarding the packaging of drugs and medical devices, the active packaging solutions providers are heavily investing in R&D so as to come up with innovative products while increasing the shelf-life of products. Geographically, Americas holds a significant market share owing to the high demand for processed food and beverage products along with the presence of major market players in the region. 

The major players covered as part of the report are BASF, DuPont, Amcor, 3M, Sonoco, Westrock, Bemis, Sealed Air Corporation, Tetra Laval, and Reynolds Group Holdings.  

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This report segmented the Active Packaging market on the basis following terms

  • By Technology

    • Oxygen Scavengers
    • Moisture Controllers
    • Antimicrobial Agents
    • UV Blocking
    • Others
  • By Application

    • Food
    • Beverages
    • Pharmaceuticals and Healthcare
    • Electronics Products
    • Consumer Care
    • Others
  • By Geography

    • Americas

      • USA
      • Canada
      • Brazil
      • Mexico
      • Others
    • Europe Middle East and Africa

      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Others
    • Asia Pacific

      • Japan
      • China
      • India
      • Australia
      • South Korea
      • Others