North America is the leader in the market for packaging. It accounts for more than 30% of the market and it is still growing, the prime driver for this is its culture of e-commerce and packed food. The demand for packed and frozen foods is also a major factor in the increasing use of active and intelligent packaging.
The North America active and intelligent packaging market is estimated to grow from USD 6.35 billion in 2016 to USD 9.34 billion by the end of 2021 at a CAGR of 6.65%. The United States leads the market with almost 85% of the market share and is expected to grow at a CAGR of 6.57%.
North American active and intelligent packaging market is witnessing a remarkable growth. Increasing demand for these packaging products because of changing lifestyles and demand from manufacturers for longer shelf life is driving this market growth. Government’s strict regulations regarding food packaging and safety standards are other such factors which are contributing to the market growth.
Food packaging has no longer just a passive role in protecting and marketing a food product. New concepts of active and intelligent packaging play an increasingly important role by offering innovative solutions to extend the shelf-life or maintain, improve or monitor food quality and safety. Active packaging allows packages to interact with food and the environment and play a dynamic role in food preservation.
Packaging can play a very important role in tackling the issue of counterfeiting, the advent of intelligent packing with the integration of technologies like radio frequency identification tags and near field communication devices has enabled manufacturing firms to keep track of their shipments and prevent any attempts to sabotage or counterfeit the products.
The major concerns with this market are that the economy is still sluggish. Still, thousands of people are unemployed. USA Government foresees the growth to start by the end of 2016. The investors should not be bumped by these concerns because the investments into this region have started growing with companies from Asia-Pacific and European region looking to expand its Northern American operations.
The report provides a comprehensive analysis of the market segmented on the basis of packaging material used and the end-user industry. Detailed estimates for the next five years are included along with the analysis of the major players and their strategies. Some of the vendors mentioned in the report are BASF, Amcor Limited, Landec Corporation, Bemis, Rexam Plc and Sonoco.
Changing lifestyle of people, demand for packaging solutions with longer sustainability, demand for fresh and quality food are the major drivers for the growth of this market. Further, increase in counterfeit products in developing countries has also compelled companies to use technologies like RFID during packaging.
Issues regarding the effect of packaging materials on the human body, security and privacy issues in case of intelligent packaging systems are expected to be major challenges for the market’s growth over the next five years.
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