The booming food and beverage industry post the economic slump of 2008 is extended growth opportunities to several ancillary industries. The rising per capita income of individuals and changing lifestyle is positively influencing the growth of packaged food and beverage industry worldwide. This includes supply of frozen meats, packaged fruits and vegetables, and ready-to-eat foods between local, regional, and international markets. This has boosted the demand for specialty packaging over the last couple of years and is expected to stay the same in the years ahead.
In this blog post analysts at Transparency Market Research presents answers to some of the pertinent questions related to the developments in the active, smart, and intelligent packaging market in the forthcoming years;
What are the key factors stoking growth of the global active, smart, and intelligent packaging market?
The booming retail sector displays a sizeable demand for attractive packaging to serve the changing lifestyle of urban consumers. The expeditiously rising demand for packaged foods which includes ready-to-eat foods has surfaced as the leading end-user for smart packaging solutions. Manufacturers of packaged foods heavily rely on smart packaging solutions to retain the nutritional value and freshness of food intact. These foods are transported in controlled environments between local and overseas markets via land, sea, and air transport.
The pharmaceuticals industry has also emerged as a key end-user of active, smart, and intelligent packaging solutions for extended shelf life for long distance transportation. Several medicines and injections that are sensitive to temperature and weather changes need advanced packaging solutions and transported via cold-chains to avert chances of damage.
Smart packaging not only ensures that the product reaches safely to the end-user, but is advantageous from a marketing perspective as well. Advanced packaging interacts with internal and external environments and is also visually appealing to consumers.
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Besides this, smart and active packaging eases the process of bulk transportation. This is leading to the uptake of advanced packaging solutions predominantly among manufacturers of consumer goods, food and beverages, and pharmaceuticals.
What are the factors restraining the growth of active, smart, and intelligent packaging market?
High costs involved in the implementation of advanced packaging solutions due to the huge investments for the research and development of better products is one of the key restraining factors of the global active, smart, and intelligent packaging market. To address this, key players in the market are involved in the development of novel packaging solutions that are produced with minimum cost without compromising on quality.
Which are the leading regional markets for active, smart, and intelligent packaging solutions?
North America presently displays the leading demand for active, smart, and intelligent packaging solutions. Stringent regulations for the packaging of food and beverages in the U.S. and Canada will account North America to hold a significant position amongst other regional markets.