Active Packaging Industry Expected to Top $35.7 Billion by 2031


Posted August 12, 2024 by komal123

Meticulous Research®—leading global market research company, published a research report titled, ‘Active Packaging Market
 
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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Meticulous Research® has released a new report forecasting significant growth in the active packaging market, with an estimated value of $35.7 billion by 2031, reflecting a strong compound annual growth rate (CAGR) of 7.8% from 2024 to 2031. Key drivers behind this growth include the rising demand for sustainable packaging solutions, increased use of active packaging in the food & beverage industry, and a growing consumer preference for fresh, high-quality packaged foods. However, challenges such as high raw material costs remain. Despite limited consumer awareness, the healthcare and pharmaceutical sectors present lucrative growth opportunities for market players. Additionally, the development of bio-based active packaging is emerging as a key trend shaping the market.

Market Segmentation and Dynamics: The active packaging market is segmented by type, application, and geography, providing a detailed analysis of industry trends and future growth prospects. In 2024, the gas scavengers/emitters segment is expected to lead, capturing 26.0% of the market due to its role in extending product shelf life and enhancing safety during transportation and storage. The food & beverage application segment is projected to dominate with a 30.0% market share in 2024, driven by consumer demand for food safety and sustainable packaging. Meanwhile, the healthcare and pharmaceutical segment is anticipated to register the highest CAGR during the forecast period, driven by the need to maintain the quality and safety of pharmaceutical products.

Regional Insights: Asia-Pacific is set to dominate the market with a 34.0% share in 2024, driven by the widespread adoption of active packaging in the food & beverage sector and growing consumer awareness of product safety. The region is also expected to experience the highest CAGR of 9.0% during the forecast period, supported by strong economic growth and the expanding e-commerce sector, particularly in China, Japan, South Korea, and India.

Key Market Players: Leading players such as Amcor plc, Ball Corporation, Sealed Air Corporation, and WestRock Company are driving innovation and market expansion. Amcor plc’s recent investment in a state-of-the-art manufacturing facility in Huizhou, China, underscores its commitment to meeting evolving customer demands in the Asia-Pacific region.

Conclusion: The active packaging market is poised for transformative growth in the coming years, supported by technological advancements and strategic investments from key industry players.
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Issued By komal
Country India
Categories Technology
Last Updated August 12, 2024