CLEVELAND, March 28, 2016 /PRNewswire/ -- Demand for active and intelligent packaging in the US is forecast to expand 7.3 percent annually to $4.0 billion in 2019, well above the packaging industry average. Active packaging provides functions beyond product protection and identification, such as moisture control; intelligent packaging incorporates features that indicate status or communicate product changes and other information. While many active and intelligent packaging products, such as packaged desiccants and volatile corrosion inhibitors, have a well established presence, emerging products include antimicrobial packaging, advanced time-temperature monitors, and smartphone-enabled interactive packaging products. These and other trends are presented in Active & Intelligent Packaging, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
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Intelligent packaging demand will see the faster growth, advancing at a double-digit rate as products such as time-temperature indicators and smart labels and tags become more common. According to analyst Katie Wieser, "Although many of these products have been seen as unnecessary or cost prohibitive in the past, the development of technology which allows for low cost production of printed electronics and the elimination of specialized electronic readers in favor of smartphones will allow them to enter the mainstream." Rapid adoption of tracking-enabled or interactive packaging components will be driven by recent legislation in the pharmaceutical and food markets which requires producers to take steps to make products safer and easier to recall.
Active packaging demand is forecast to grow 5.4 percent per year to $2.5 billion in 2019. Demand will be driven by growth in gas scavenger products which are benefiting from the development of more advanced technology and the growing preference for foods with fewer additives. Growth in demand for corrosion control packaging, desiccants, and microwave susceptors will register more moderate gains due to market maturity. However, healthy gains will still be observed as products are introduced to perform these standard functions more efficiently. For example, new environmentally friendly corrosion control scavengers have been developed, and desiccants are now being embedded in bottles or caps to provide moisture control for pharmaceuticals.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group