Active packaging refers to packaging technologies that actively interact with the contents of the package to extend shelf life, improve safety, or enhance the quality of the packaged product.
The global active packaging market is on a trajectory of sustained growth, with a projected average annual growth rate of 9.49% throughout the forecast period. As of 2023, the market is valued at an impressive US$ 26.13 billion, and it is set to surge beyond US$ 64.71 billion by the year 2033.
A substantial boost in demand among urban consumers for ready-to-eat and on-the-go food products is a pivotal driver of market expansion. The fast-paced lifestyles prevalent in urban areas have led to an increased preference for convenient food options, creating a conducive environment for the growth of the active packaging market. As consumers seek freshness and convenience in their food choices, active packaging plays a critical role in meeting these evolving demands.
Key Companies Proliferating in the market are
- Avery Dennison
- Amcor PLS
- American Thermal Instruments
- Temptime Corporation
- Smartrac N.V.
- BASF SE
- Thin Film Electronics ASA
- Stora Enso
- International Paper
- Emerson Electric Co.
- R.R. Donnelly & Sons (RRD) Company
- Sealed Air Corporation
- Smartglyph Ltd.
Start-up Ecosystem
The surge in demand for sustainable packaging solutions has sparked a wave of innovation within the startup community. These dynamic newcomers to the packaging industry are harnessing cutting-edge technologies to introduce novel products and gain a competitive edge. With a keen eye on evolving consumer preferences and the evolving needs of end-use industries, these startups are committed to pushing the boundaries of the active packaging market.
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Here are three startups poised to make a significant impact:
- EcoPak
Funding: $6.5 Million
EcoPak specializes in eco-friendly packaging solutions designed to minimize environmental impact. Their innovative approach combines biodegradable materials with smart technology, allowing consumers to track their packaging’s lifecycle and easily replenish supplies. Through a user-friendly mobile app, customers can locate EcoPak refill stations and seamlessly refill their smart packaging containers.
- RePackify
Funding: $2.2 Million
RePackify offers a revolutionary solution for e-commerce companies seeking sustainable shipping options. Their reusable packaging system, RePack, is made from durable, recycled materials and features a unique tracking mechanism. Once a customer receives their order in a RePack package, they can simply return it using the prepaid shipping label provided. This closed-loop system not only reduces waste but also provides valuable insights into the environmental footprint of each shipment.
- FreshTech
Location: United Kingdom
FreshTech is at the forefront of IoT-based packaging solutions designed to enhance product freshness and quality. Their smart packaging incorporates sensors that monitor temperature, humidity, and other factors to ensure optimal conditions throughout the supply chain. Consumers can easily scan the packaging with their smartphones to access detailed product information and track its journey from production to consumption.
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Competitive Landscape in the Active Packaging Market
The manufacturers in the active packaging market are entering into strategic partnerships and collaborations with other prominent players in the industry. They are rigorously investing in research and development activities to strengthen their foothold and widen their base of active packaging solutions. The market is estimated to stir up through the forecast period, owing to the innovative attempts in technology for advanced packaging made by biggies.
Recent Developments
- In April 2022, Amcor PLC made an investment to expand its medical thermoforming packaging capabilities in its healthcare packaging factory located in Sligo, Ireland. The investment is of multiMn dollars that would support Amcors expanding sterile packaging business and refer clients in North America and Europe for accessing another location with all-inclusive healthcare options.
- In May 2022, Avery Dennison made an announcement about its strategic alliance with WIliot, a provider of digital ID technologies. This alliance is to scale the Internet of Things with the inclusion of atma.io as the design, development, and production of Wiliot tags, which will make a significant contribution to the development of interconnected and fully intelligent IoT.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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