The Demand for Oxygen Scavengers Is Expected to Outgrow Other Products in the Advanced Packaging Technologies Market

In recent years, the packaging industry has witnessed a tremendous increase in demand for different products due to change in consumer habits and the introduction of new & innovative products embedded with advanced packaging technologies. Companies are investing heavily in research and development activities to develop products with distinguishable characteristics. Consumer inclination towards convenience products such as packaged food, has resulted in the development of products with advanced packaging technologies that offer longer shelf life through gas absorption and scavenging systems. Across the globe, active packaging is gaining traction for food packaging applications due to its properties that enhance shelf life and the ability to reflect properties of contained food on the packaging. Embedding advanced packaging technologies such as freshness and temperature indicators on food packaging products by a large number of brand owners all over the world, is helping them acquire more customers and gain a competitive advantage in the packaged food industry. Leading packaging companies are collaborating with technology providers to develop advanced packaging technologies for their products. Global food and beverages companies are showing immense interest in adopting packaging solutions with advanced packaging technologies.

Consumers in developed countries are willing to pay higher for products with advanced packaging technologies

The global demand for advanced packaging technologies is largely fulfilled by the manufacturers present in major countries of Europe and North America regions. It has been noticed that the consumers in these regions have shown great interest in the adoption of products with advanced packaging technologies. According to TMR, more than 30% of the consumers are willing to pay a higher cost for products with the advanced packaging technologies. Consumer inclination towards products with smart packaging solutions and high-barrier properties is creating a wave in the packaging industry which, in turn, is responsible for the high growth in the advanced packaging technologies market. The advanced packaging technologies market is expected to grow at a CAGR value of 7.5%, during the forecast period.

Advanced packaging technologies help brand owners differentiate their products at the point of purchase

Innovation and new product launches in the global advanced packaging technologies market are the major factors that are being considered by leading packaging manufacturers. Brand owners are rethinking their strategies and planning to launch new products with advanced packaging technologies. Such initiatives are responsible for embarking new products in the advanced packaging technologies market. Brand owners think that products with advanced packaging technologies will create brand differentiation at the point of sale.

advanced packaging technologies market

On the basis of end use, the advanced packaging technologies market is segmented into Food, Beverages, Pharmaceuticals, Industrial & Chemicals, Cosmetics & Personal Care, Agriculture, and Others. Food segment in the advanced packaging technologies market is further sub-segmented into Meat, Poultry, and Seafood, Fruits & Vegetables, Ready-to-Eat Meals, Dairy Foods, Bakery & Confectionary, Frozen Foods, and Cereals.

Fast adoption of advanced packaging technologies is the major factor responsible for high growth in the North American market

The North American region accounts for the largest market share in terms of production of packaging products, with advanced packaging technologies, in both categories i.e. active and smart & intelligent packaging. The U.S. is expected to account for the largest market share in the North American advanced packaging technologies market. However, Canada is expected to witness higher CAGR value of 7.2% during the forecast period. European region occupies the second spot in the global advanced packaging technologies market in terms of both revenue generation and consumption. Germany and Italy are the main production hubs for products embedded with advanced packaging technologies in Europe. Both of these countries export a large proportion of its production to the U.S., China, ASEAN, India, Korea, and Japan. In the Asia-Pacific region, Japan accounts for the second largest market share due to the high consumption of the products with advanced packaging technologies in the country. A large number of advanced packaging manufacturers have already established a good presence in the Japanese market. However, the demand for advanced packaging technologies in Japan is increasing but at a slower rate than other countries in the Asia-Pacific region. Major technology providers such as EVRYTHNG Limited, Selinko SA, Digimarc Corporation, Prime Vision AG, and Waterio Ltd. are collaborating with packaging companies in the region to develop products with advanced packaging technologies and leverage opportunities generated from the high demand for such packaging solutions in the region.

Leading packaging companies are planning to expand their presence in emerging economies by launching products with advanced packaging technologies

Leading packaging companies such as Tetrapak and Huhtamaki are also planning to launch new products with advanced packaging technologies in the developing countries of the Asia-Pacific and Latin America regions. Countries in the MEA region also offer untapped growth opportunities in the global advanced packaging technologies market.

Some of the key players in the global advanced packaging technologies market include PakSense, Inc, Landec Corporation, Sealed Air Corporation, Bemis Company, Inc, Crown Holdings, Inc., Amcor Limited, 3M Company, Timestrip UK Ltd., Cryolog S.A., Vitsab International AB, Varcode, Ltd., LCR Hallcrest LLC.:, Thin Film Electronics ASA, CCL Industries Inc., Temptime Corporation, Multisorb Technologies, Inc., Coveris Holdings S.A., and others.

Transparency Market Research examines the global advanced packaging technologies market during the forecast period 2018-2026. The primary objective of the report is to identify opportunities in the market and present updates as well as insights about various segments of the global advanced packaging technologies market.

The report begins with an overview of the global advanced packaging technologies market, evaluating market performance in terms of revenue, followed by TMR’s analysis of key trends, drivers, and restraints witnessed in the global retail as well as advanced packaging technologies market. Weighted average pricing analysis of the advanced packaging technologies market, based on product type, is also included in the report.

To compute the market size, in-depth secondary research is done. Data points such as regional splits and market split by technology type and by end use, have been assimilated to arrive at the market estimates. The report comprises the forecast of the global revenue generated by sales of advanced packaging technologies market across different industries.

TMR triangulates the data via a different analysis based on the supply side, demand side, as well as the dynamics of the advanced packaging technologies market.

TMR not only conducts forecasts in terms of value but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.

TMR conducted more than 60 interviews with key players present in each country. The main objective of conducting primary interviews is to frame open-ended conversations and gather qualitative as well as quantitative information on the advanced packaging technologies market. It should be noted that perspectives of each stakeholder offer a unique insight into the market.

Supply Side Interviews/Discussions: TMR consulted key manufacturers in the advanced packaging technologies market, industry experts (sales manager, marketing head, purchase manager etc.), trade associations, C-level executives, distributors, and independent consultants

Demand Side Interviews: TMR consulted packaging experts from key end-user companies for advanced packaging technologies (food, beverages, pharmaceuticals, industrial & chemicals, cosmetics & personal care, agriculture, and others)

In order to understand and assess opportunities in the advanced packaging technologies market, the report is categorically divided into three key sections - by technology type, end use industry, and region. The report analyzes the global advanced packaging technologies market in terms of value (US$ Mn) and volume (Mn Units).

The vital feature of this report is the analysis of the global advanced packaging technologies market by region, by technology type and by end use, along with the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to provide potential resources from sales perspective of the global advanced packaging technologies market.

To understand key segments in terms of their growth and performance in the advanced packaging technologies market, Transparency Market Research has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global advanced packaging technologies market.

In the final section of the report, the competitive landscape of the advanced packaging technologies market has been included to provide a dashboard view of companies that manufacture and provide advanced packaging technologies. The report contains company profiles of some of the players in the advanced packaging technologies market.

Some of the key players in the global advanced packaging technologies market include PakSense, Inc, Landec Corporation, Sealed Air Corporation, Bemis Company, Inc, Crown Holdings, Inc., Amcor Limited, 3M Company, Timestrip UK Ltd., Cryolog S.A., Vitsab International AB, Varcode, Ltd., LCR Hallcrest LLC.:, Thin Film Electronics ASA, CCL Industries Inc., Temptime Corporation, Multisorb Technologies, Inc., Coveris Holdings S.A., and others.

The advanced packaging technologies market has been segmented as follows –

Technology

  • Active Packaging
    • Active Packaging Systems
      • Oxygen Scavengers
      • Moisture Scavengers/Absorbers
      • Ethylene Absorbers
    • Active Releasing Systems
      • Antioxidant Releasers
      • Carbon Dioxide Emitters
    • Modified Atmosphere Packaging
    • Temperature Control Packaging
    • Anti-Corrosion Films
  • Smart and Intelligent Packaging
    • TTI Tags & Labels
    • Freshness Indicators
    • Oxygen and CO2 Indicators
    • RFID
    • Others

End Use

  • Food
    • Meat, Poultry, and Seafood
    • Fruits & Vegetables
    • Ready to Eat Meals
    • Dairy Foods
    • Bakery & Confectionary
    • Frozen Foods
    • Cereals
  • Beverages
  • Alcoholic Beverages
  • Non-Alcoholic Beverages
  • Pharmaceuticals
  • Industrial & Chemicals
  • Cosmetics & Personal Care
  • Agriculture
  • Others

Geography

  • North America
  • Latin America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)