Market Research Future published a research report on “Intelligent Packaging Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Amcor Ltd., Landec Corp., Graham Packaging Company Inc., Ball Corp., VIP Packaging, Timestrip PLC., Sealed Air Corp., SYSCO Corp., and Mitsubishi Gas Chemical Inc. are some of the prominent players at the forefront of competition in the global intelligent packaging market and are profiled in MRFR Analysis.
Global Intelligent Packaging Market – Overview
Intelligent packaging is a system capable of carrying out intelligent functions like sensing, tracing, detecting, recording, communicating and applying scientific logic with the objectives of extending the shelf life of a product, improving quality, enhancing safety and providing all necessary information. There are various intelligent packaging systems such as indicators, radio frequency identification type and sensors. The aim is to detect and communicate information about the condition of the product, without taking any direct action.
The Intelligent Packaging market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of such packaging is influenced by increased demand from food & beverage industry, growing demand from pharmaceutical industry, and increased government policies regarding food safety. However, high added cost of products, lack of willingness from consumers and retailers, and lack of marketing are expected to hinder the growth.
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Food & Beverage industry has adopted intelligent packaging extensively across the world. There is seen an increased demand for intelligent packaging from the growing food & beverage industry, which has driven the market for global intelligent packaging. According to Institutional Repository of the Pan American Health Organization, global volume sales of processed food & beverages increased from 328,005 K Tons in 2010 to 471476 K Tons in 2013.
Intelligent packaging systems exist to monitor certain aspects of a food product and report information to the consumer. The purpose of the intelligent system could be to improve the quality or value of a product, to provide more convenience, or to provide tamper or theft resistance. Intelligent packaging can report the conditions on the outside of the package, or directly measure the quality of the food product inside the package. In order to measure product quality within the package, there must be direct contact between the food product and the quality maker.
Global Intelligent Packaging Market – Competitive Analysis
Intelligent packaging industry has seen significant growth in last few years due to its application across industries, and supportive government policies on food safety. The companies have adopted the strategy of product development and technological advancement.
Such key strategies adopted by the major players in the global intelligent packaging market has been adopted to cater to the technological requirements of the intelligent packaging market. The market is highly technology driven across all applications and thus demands regular product innovation and increased investment in R&D. Furthermore the partnerships with other players across the supply chain ensures the expanding client base as well as the market share for the companies.
Multi Packaging Solutions (MPS) has partnered with a UK technology business to create barcodes that can interact with smartphones. The new development, called SmarterBarcodes, transforms a standard barcode on any pack format into a two-way communications channel. Consumers interact with the packaging by scanning the barcode with any mobile device that has a camera.
Stora Enso are also collaborating with Aalto University, Chalmers University of Technology and the Royal Institute of Technology in long-term joint research and innovation development. They have also improving their asset to meet the growing demand. Recently, they also strengthened their presence in China with the Beihai consumer board mill in Guangxi that was established with an investment of USD 843.28 million.
PepsiCo embraces active and intelligent packaging with interactive session at AIPIA World Congress 2017. PepsiCo is to host an interactive session at AIPIA World Congress 2017, asking the association’s members to come up with ideas for new packaging for PepsiCo brands incorporating all types of active and intelligent packaging formats and technologies.
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Global Intelligent Packaging Market – Segments
Global Intelligent Packaging Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Product: Comprises – Gas Scavengers, Corrosion Control Packaging, Moisture Control Packaging, Susceptor Packaging, QR code, and others
Segmentation By Application: Comprises – Food & Beverages, Pharmaceuticals, Automotive, Electronics, and others
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World
Global Intelligent Packaging Market – Regional Analysis
Global intelligent packaging market is projected to grow at a faster pace due to the increasing requirements of packaging from industries such as food & beverage, electronics, and healthcare. The solutions in these sector across the supply chain is driving the market globally for such packaging.
North America accounts for the largest share in the global intelligent packaging market. The region has witnessed increased investment in the R&D and product innovation as far as packaging is concerned.
APAC is expected to experience the fastest growth during the forecasted period due to the economic growth of China and India. The region offers flourishing market for such technological advanced packaging solutions. The FDI in retail has further widened the scope of intelligent packaging and lures the foreign players to enter the market with new packaging solutions.
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