IoT to Change the Future of Advanced Packaging Technologies Market

In its latest report titled – “Advanced Packaging Technologies Market – Global Industry, Size, Share, Growth, Trends and Forecast, 2018–2026,” Transparency Market Research (TMR) delivers key insights on the consumption of a variety of packaging products, with advanced packaging technologies used in different end uses. According to TMR, the global advanced packaging technologies market is projected to clock a CAGR of 7.5%, during 2018-26, which is attributed to several factors, on which, the advanced packaging technologies report provides thorough insights and forecast. The Asia Pacific advanced packaging technologies market is expected to witness the highest CAGR value of 9.1%, during the forecast period.

The market research study on the global advanced packaging technologies market includes market assessment of different types of advanced packaging technologies i.e. active packaging technologies and smart & intelligent packaging technologies. Active packaging products include oxygen scavengers, moisture scavengers/absorbers, ethylene absorbers, active releasing systems, antioxidant releasers, carbon dioxide emitters, modified atmosphere packaging, temperature control packaging, and anti-corrosion films. Smart & intelligent packaging products include TTI tags & labels, freshness indicators, oxygen and CO2 indicators, RFID, and others.

TMR suggests that the increasing consumption of convenience products such as packaged food & beverages has fuelled the demand for advanced packaging technologies globally. However, the demand for products with advanced packaging technologies is also increasing at a faster pace for applications in other end-use industries such as pharmaceuticals and chemical industry. Packaging products with advanced packaging technologies are widely used to protect products from counterfeiting and provide product information to the consumers in the pharmaceutical industry. Intelligent packaging solutions have gained significant traction in recent years due to the ability of these packaging products to provide information about the product and its constituents at the point of purchase.

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Leading brand owners are planning to use advanced packaging technologies for their products to create brand differentiation and enhance the traceability of their products. The active packaging segment dominates the global advanced packaging technologies market with the market value share of more than 90% in 2017. In the active packaging segment, modified atmosphere packaging and oxygen scavengers are the two largest segments in terms of both market value and consumption.

Temperature and freshness indicators are also gaining momentum for advanced packaging of some food products globally. The advanced packaging technologies market offers substantial growth opportunities for the new entrants and existing packaging manufacturers. Companies could focus on embedding advanced packaging technologies in their conventional packaging products to gain significant attention from the brand owners as well as consumers. The global advanced packaging technologies market is expected to grow at a CAGR value of 7.5% during the forecast period.