The global active packaging market size was USD 14.53 billion in 2022. The market is projected to expand from USD 15.21 billion in 2023 to USD 22.00 billion in 2030, exhibiting a CAGR of 5.4% over the estimated period. The rise can be attributed to the growing deployment of various technologies such as gas emitter, water vapor elimination, ethanol release, carbon dioxide discharge, ethylene scavenging, and others.
Fortune Business Insights™ provides this information in its research report, titled “Active Packaging Market Size Growth, 2024-2032”.
Active Packaging Market Segments:
Gas Scavenger/Emitter Segment to Emerge Prominent Driven by Increasing Technology Adoption
Based on packaging technology, the market is subdivided into moisture absorber, antimicrobial agent, microwave susceptor, gas scavenger/emitter, and others. The gas scavenger/emitter segment is anticipated to register substantial growth throughout the forecast period. The surge is on account of the escalating popularity of the technology for packaging numerous products.
Food & Beverages Segment to Gain Traction Driven by Surging Demand for Easy-to-use Packaging Products
On the basis of end-user, the market is fragmented into food & beverages, shipping & logistics, automotive, pharmaceutical, electronics and electrical, agriculture, personal care & cosmetics, and others. Of these, the food & beverages segment is slated to expand at an appreciable pace over the forthcoming years. The rise is driven by the escalating product usage for packaging beverages, confectionary, and ready-to-eat products.
Based on geography, the market for active packaging is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Active Packaging Market Report Coverage:
The report gives an insight into the key factors impelling the industry expansion over the forecast period. It further delves into the vital factors influencing the market growth throughout the projected period. Some of the other aspects of the report comprise the key steps taken by leading market players for strengthening their industry position.
Drivers and Restraints:
Market Share to Rise Driven by Changing Lifestyle Across Numerous Regions
One of the key factors propelling the active packaging market growth is the changing lifestyle and expanding urban population. This has further impelled the demand for packaged, frozen, and prepared foods.
However, the industry expansion could be hindered due to the increasing production costs.
Source- https://www.fortunebusinessinsights.com/active-packaging-market-105236
Regional Insights:
North America to Emerge as Leading Region Driven by Growing Packaging Sector
The North America active packaging market share is slated to record appreciable expansion throughout the analysis period. The surge can be credited to the expanding packaging sector in the region.
The Europe market is expected to expand at a commendable rate throughout the projected period. The rise can be attributed to the increasing active packaging demand in the region.
Competitive Landscape:
Major Market Participants Ink Merger Agreements to Expand Geographical Footprint
Key active packaging companies are focused on a range of strategic initiatives such as merger agreements and acquisitions for strengthening their industry position. Some of the additional steps include the development and launch of new products and increasing participation in trade conferences.
Active Packaging Market Industry Development:
November 2022 – 3M Thinsulate helped Watson Gloves with its eco-evolution. The latter announced the transition of its Thinsulate insulation gloves to Thinsulate Type EC, comprising 78% fibers developed from recycled plastic water bottles.
List of Key Players Mentioned in the Report:
- Amcor Plc (Switzerland)
- Avery Dennison (U.S.)
- 3M (U.S.)
- Grace and Company (U.S.)
- Ampacet Corporation (Thailand)
- Accutech Packaging (U.S.)
- AIMPLAS Inc (Spain)
- Amelco Desiccants Inc. (Philippines)
- BASF SE & DUPONT (Germany)
- Graham Packaging Company (U.S.)
- Aptar Group Inc (U.S.)
- Amerplast Ltd (Finland)
- MicrobeGuard Corporation (U.S.)