Active Packaging Market Estimated to Exceed $35.7 Billion by 2031
Meticulous Research®—leading global market research company, published a research report titled, ‘Active Packaging Market by Type (Gas Scavengers/Emitters, Antimicrobial Agent, Moisture Absorber, and Microwave Susceptors), Application (Food & Beverages, Healthcare & Pharmaceutical, Transportation & Logistics) and Geography - Global Forecast to 2031.’
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In the
latest publication by Meticulous Research®, the active packaging market is
poised for significant growth, with projections indicating a substantial
valuation of $35.7 billion by 2031, showcasing a robust compound annual growth
rate (CAGR) of 7.8% spanning from 2024 to 2031. This anticipated surge is
underpinned by multifaceted factors, including escalating demands for
sustainable and long-lasting packaging solutions, heightened adoption of active
packaging across the food & beverage sector, and an increasing consumer
appetite for fresh, high-quality packaged foods. Nevertheless, the market's
expansion may encounter hurdles due to the elevated costs associated with raw
materials.
Furthermore,
the burgeoning integration of active packaging within the healthcare &
pharmaceutical sectors presents lucrative growth opportunities for market
participants. However, the challenge of insufficient consumer awareness poses a
notable obstacle to market proliferation. Additionally, the advent of bio-based
active packaging emerges as a pivotal trend within this dynamic market
landscape.
The
active packaging market is meticulously segmented based on type, application,
and geography, offering a comprehensive analysis of industry dynamics and
market prospects. Within the segmentation, the gas scavengers/emitters segment
is slated to dominate in 2024, commanding a substantial share of 26.0% of the
market. This segment's ascendancy is propelled by the imperative to prolong
product shelf life, heightened safety concerns, and the burgeoning adoption of
ethylene scavengers and oxygen seveners across transportation and storage
sectors.
Application-wise,
the food & beverages segment is poised to seize the largest market share in
2024, accounting for 30.0% of the active packaging market. This dominance is
attributed to escalating consumer consciousness surrounding food safety, a growing
appetite for convenient and sustainable packaging solutions, and an increasing
need to extend the shelf life of F&B products. However, the healthcare
& pharmaceutical segment is forecasted to register the highest CAGR during
the forecast period, driven by heightened consumer awareness regarding
healthier lifestyles and the growing need to maintain pharmaceutical product
quality and safety.
Geographically,
Asia-Pacific emerges as a pivotal market player, slated to command the largest
share of 34.0% in 2024. This dominance is underpinned by the region's
burgeoning utilization of active packaging within its food & beverage
sector, coupled with a surging demand for eco-friendly packaging solutions and
increasing consumer vigilance regarding product safety.
The
market landscape is enriched by the presence of key players such as Amcor plc,
Ball Corporation, Sealed Air Corporation, and WestRock Company, among others.
These industry stalwarts are at the forefront of innovation, driving market
expansion and redefining packaging paradigms. For instance, Amcor plc's recent
investment in a cutting-edge manufacturing plant in Huizhou, China, underscores
the company's commitment to meeting evolving customer demands in the
Asia-Pacific region.
The
Asia-Pacific region is poised to exhibit the highest CAGR of 9.0% during the
forecast period, propelled by robust regional economies and the burgeoning
e-commerce sector, particularly in China, Japan, South Korea, and India.
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