Wellesley, MA (PRWEB) May 15, 2013
The global market for advanced packaging solutions that includes active, controlled, intelligent packaging, and advanced packaging components was at $31.4 billion in 2011. The market growth looks promising and the overall market value for 2017 is projected to be nearly $44.3 billion after increasing at a compound annual growth rate (CAGR) of 5.8%.
The market was dominated by controlled packaging, which had sales of nearly $12.4 billion in 2011. The expected CAGR for controlled packaging is 6% from 2012 through 2017, resulting in a projected market value of $17.6 billion in 2017.
Active packaging was next in market share in 2011 with nearly $8.8 billion in sales; the anticipated CAGR for this segment of advanced packaging is 5.2%, leading to a market value of $11.9 billion in 2017.
Advanced packaging components accounted for $6.5 billion of sales in 2011, and the market value for 2017 for this segment is expected to be at around $9.4 billion after rising at a 6.3% CAGR.
The intelligent packaging sales were nearly $3.8 billion in 2011 and could approach $5.3 billion in 2017 with a CAGR 5.6%.
Consumer packaging is a vital component of contemporary living today, with food and beverage packaging making up the largest segment. Key megatrends, such as upgraded standard of living and demand for safety, convenience, health, well-being, and sustainability are creating long-term shifts affecting consumers’ lives, eating habits, and purchasing behaviors across many different markets, regions and demographics. These shifts, which started a decade or so ago, have forced a constant change of behavior in their manifestation. Globalization has had a tremendous effect as well on the regional markets; however, trends are to some extent also influenced by regional cultures, depending on the progress of the market in question.
Companies engaged in manufacturing and selling food and beverage packaging must adhere as necessary to whatever regulations are in place or devised. Consumer acceptance is another key factor that manufacturers, retailers, and others involved in the industry should consider. For example, a sudden change in the regular packaging of a product such as meat or poultry might influence consumers’ purchasing of the product. Thus, the company that suddenly introduces a different packaging medium would have to provide detailed and relevant information to foster consumer acceptance of the new packaging.
The increasing consumer demand for fresh and unaltered food has driven the integration of active packaging in the food and beverages industry. Active packaging uses a variety of techniques. Regional markets for active packaging of food and beverages have grown due to consumer preference for minimally processed foods that employ minimal or no preservatives. The convergence of global factors such as eating habits, health awareness, stress factors due to an overnight work culture, stricter regulations on food safety, and others have added to the transformation of food packaging. These factors have driven the growth of active packaging techniques in all regions.
Controlled packaging of food and beverages in the regional markets grew well during the examined period of 2010 to 2012. There is an expectation of sustained growth for controlled packaging in all regions, since the packaging techniques are focused primarily on retaining the freshness of everyday consumable products such as fresh produce (fruits and vegetables), dairy products, and other preprocessed foods for a particular segment of people.
The intelligent packaging market across all regions – North America, Europe, and emerging markets – increased substantially from 2010 to 2012 and is expected to sustain this growth for the next four to five years. A number of portentous activities, such as collaborative efforts and new product development in the Asia-Pacific region as well as in the European and North American markets, were witnessed.
Global Markets for Active, Controlled and Intelligent Packaging for Foods and Beverages (FOD038C) covers the market for active, controlled, and intelligent packaging, including advanced packaging components. BCC’s analysis includes an evaluation of the market and market breakdowns (including by region and by application) for each advanced packaging type; a breakdown of the market into subcategories as the available data allows; market forecasting; and examination of regulatory aspects, innovations, challenges, patent details, market leaders, and market share of individual packaging types. In addition, the study discusses scientific advances, consumer behaviors, and market vibrancy.
Market data is presented to show global market trends and growth. Data are statistically validated for present and future predictions.