The Active And Smart Packaging Market Will See Steady Growth This Year
By Isaac Fletcher, contributing writer, Food Online
The active, smart, and intelligent packaging market is slated to exhibit strong growth through 2015 due to increased consumer demand for highly-functional packaging and extended shelf life
A recent report, Global Active, Smart, and Intelligent Packaging Market by Products, Applications, Trends and Forecasts (2010-2015), estimates that the global market for active and smart packaging will be worth $23.4 million by the end of 2015. The estimated CAGR between 2010 and 2015 is 8.2 percent. The report analyzes the active and smart-packaging market on the basis of technology and applications in order to understand the major market drivers, restraints, and opportunities.
To forecast trends and revenues, the global packaging technology market is categorized on the basis of application, technology, and geography. On the basis of technology, the market is segmented by active packaging, modified-atmosphere packaging, and smart- and intelligent-packaging technology. In terms of application, the market is categorized by seafood, meat and poultry, soup, dairy products, confectionery, fruits and vegetables, and ready-to-eat meals. And lastly, in terms of geography, the major market regions are North America, Europe, and Asia.
The market is being driven by a growing demand for fresh, high-quality packaged food. Consumers are also becoming increasingly drawn to foods that offer a higher level of convenience than those found in traditional packaging. Additionally, food manufacturers are becoming ever more concerned about increasing product shelf life. Active- and smart-packaging technologies for foods and beverages are helping to address these various needs and concerns among consumers and manufacturers.
Among the various market segments, the largest share in terms of value is held by modified-atmosphere packaging, while the market for smart and intelligent packaging demonstrates the strongest growth. Packaging enhancements such as freshness indicators and time-temperature indicators are the major product segment in the smart- and intelligent-packaging market. This segment currently commands the largest share due to the increased use in packaged food, ready-to-eat meals, and frozen foods. Active packaging technology accounts for roughly 35 percent of the global active and smart packaging technology.