December 13, 2022 09:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, Dec. 13, 2022 (GLOBE NEWSWIRE) -- As per the reports published by FMI, the global active packaging market is projected to have an average-paced CAGR of 9.49% during the forecast period. The current valuation of the market is US$ 26.13 Bn in 2023. The market value of the active packaging market is anticipated to surpass a market valuation of US$ 64.71 Bn by 2033. A historical market valuation of US$ 23.87 Bn has been recorded by the analysts of Future Market Insights for the concerned market during the base year.
FMI has analyzed that the market has witnessed a surge in demand over the period 2018-2022. The growth of the market is attributed to the high adoption of active packaging across the developing food & beverage and pharmaceutical industries in emerging economies. Due to their hectic lifestyles, ready-to-eat and on-the-go foods are in high demand in urban areas. This is leading to a change in market dynamics for active packaging in 2023.
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Furthermore, active packaging solutions are increasing the safety of food and enhancing the shelf-life of the products, along with the delivery of appropriate information in the packages. However, it has been noted that stringent laws prohibiting the use of plastic for packaging in developing nations pose a serious threat to the market's long-term expansion. Moreover, the high cost of active packaging also acts as a major restraint, impeding the growth of the active packaging industry through 2033.
Key Takeaways from the Active Packaging Market
“Intelligent packaging solutions and the demand for fresh food by the health-conscious population is estimated to unravel lucrative growth opportunities for the active packaging manufacturers.” – Says an FMI Analyst.
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.
Smartrac N.V., BASF SE, Thin Film Electronics ASA, Stora Enso, and International Paper are some of the key players proliferating in the market.
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Key Segments in the Active Packaging Market
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1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations
2. Market Overview 2.1. Market Coverage/Taxonomy 2.2. Market Definition/Scope/Limitations
3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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