ALBANY, N.Y., Oct. 7, 2020
- Oxygen scavengers technology becoming increasingly attractive among food and beverages manufacturers, advanced packaging technologies market to clock a CAGR value of 7.5% during 2018 – 2026
- Packaging companies partner with technology companies to unveil smart embedded packaging solutions to enable packaged food companies prolong shelf life, North America and Europe are lucrative markets
ALBANY, N.Y., Oct. 7, 2020 /PRNewswire/ -- Extensive research and development in food preservation approaches has paved way to numerous advanced packaging technologies. Packaged food manufacturers and retailers utilize these technologies not just to prolong the shelf life of food but also try new branding strategies. Oxygen scavengers are high on agenda of packaging companies since these have emerged as an advanced active packaging technology. This is important because oxygen is key to food degradation.
The global advanced packaging technologies market is anticipated to garner CAGR of 7.5% during 2018 – 2026.
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Key Findings of Advanced Packaging Technologies Market
Explore 246 pages of top-notch research, incisive insights, and detailed country-level projections on Advanced Packaging Technologies Market (Technology Type - Active Packaging, Smart and Intelligent Packaging; End Use - Food, Beverages, Pharmaceuticals, Industrial & Chemicals, Cosmetics & Personal Care, Agriculture, Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026 at https://www.transparencymarketresearch.com/advanced-packaging-technologies-market.html
Advanced Packaging Technologies Market: Key Driving Factors and Promising Avenues
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Advanced Packaging Technologies Market: Regional Assessment
Geographically, North America is a promising market for stakeholders including packaging manufacturers. The U.S. is forecast to account for the major share in the regional market. On the other hand, opportunities in Canada are expected to expand at rapid pace during the assessment period of 2018 – 2026.
Europe has been holding a prominent position in the global advanced packaging technology market. Italy and Germany have ramped up the production of products embedded with advanced packaging technologies. Players in this region are eyeing substantial revenue streams in numerous emerging markets such as ASEAN, China, the U.S., and Korea.
Asia Pacific is also expected to be a promising regional market. The growth prospect here seems to be underpinned largely by growing collaboration between technology developers and packaging companies.
Analyze global advanced packaging technology market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Advanced Packaging Technologies Market: Key Impediments
The advanced packaging technology market is witnessing considerable challenges due to the lack of standardization of products. Also, there may be lack of widespread awareness of such packaging in some parts of the world.
On the other hand, food brands and packaging companies have partnered to develop innovation products, such as those related to chip based packaging and bio based packaging.
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The Advanced Packaging Technologies Market can be segmented as follows:
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Moisture Barrier Bags Market – Growing environmental concerns associated with plastic has led to the introduction of recyclable coextruded polyethylene (PE) pouches. As such, plastic material segment dominates the moisture barrier bags market, in terms of value and volume, which is expected to reach an output of ~373,300 tons by the end of 2027.
Reusable Water Bottles Market – Travel is estimated to account for the third-highest value and volume among other primary uses in the reusable water bottles market and the global market is estimated to reach a revenue of ~US$ 11 Bn by the end of 2027. Hence, manufacturers are increasing their production capacities to increase the availability of reusable water bottles for travelers. However, scarcity of stations designed for easy refill of water at airports poses as a challenge for manufacturers.
Packaging Machinery Market – Increasing private consumption is also anticipated to boost the demand for food service disposables in the region, which is expected to create a high-demand for packaging machinery in export-led economies. Consumer expenditure on food & beverages was estimated to be 8.5% of the global GDP in 2018. Moreover, consumer expenditure in the MEA and Asia Pacific is estimated to increase from 53% of the global expenditure to more than 60% in 2030, on the account of rise in disposable incomes of the middle class families in these regions.
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