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Smart food packaging is emerging as a primary need of manufacturers, who imports and exports the food material. The smart food packaging system is referred to as a packaging technology embedded with the substances, which acts as a sensor. The technology is majorly used in the packaging of food, pharmaceuticals, and others. The food and other manufacturers are focusing on high-quality packaging with advanced technologies to keep food safe for a long time. The increasing growth of such application indicates the growth of smart food packaging in the upcoming years.
The change in consumer preferences, lifestyles, and urbanisation has led to increasing in the demand of packaged and extended shelf-stable food and beverages with the use of sustainable packaging solutions, among the food and beverages manufacturers. The manufacturers are focussing on the smart and attractive packaging to attract consumers and to differentiate their product in the highly competitive market.
Key Market Driver -
Rising Demand for On-the-Go Foods, Increasing Online Retails Popularity, and Growing Food and Beverages Sector
Key Market Restraint -
High Processing Cost Results in High Price in Final Product
The rising westernisation and busy lifestyles across the world have led to an increase in the trend for on-the-go foods and beverages. The trend offers convenience and portability to consumers with an extended shelf life of the products. The products require high and smart packaging material to survive for a long time. The rising demand for such foods and beverages is also influencing the popularity of e-commerce among the consumers positively, owing to its convenience and home delivery facility. The manufacturers are also focusing on food safety through smart packaging, to prevent the food and beverages with any damages, contaminations, and loss of food properties during its shipping. It is expected to increase in the rise of smart food packaging trend in the global market.
To deliver convenience and safety assurance to the food and beverage products, the manufacturers need to focus on high quality and smart packaging material with innovative technology, which results in the high price of the final product in the market.
Some of the major key players that are operating in the smart food packaging market include Crown Holdings, Inc., Constar International Inc., Ball Corporation, Bemis Company, Inc., Sysco Corporation, Filtration Group Corporation, Graham Packaging Company, and Insignia Technologies. The manufacturers are more focused on capitalizing on R&D for the better and improved product packaging output according to the product shelf-life requirements.
Based on the product type, active packaging and modified atmosphere packaging (MAP) are implemented by most of the food manufacturers across the world. MAP is used to ensure the freshness and attractiveness for a long time by alternating the air inside the package with the protective gas mix. The manufacturers use this technology in imports and exports of the food material. Whereas, active packaging is the packaging which interacts with the food and the package content to preserve the food for a long time.
Among the product material, plastic and glass packaging is dominating the market. There are several applications which prefer plastic and glass packed beverages, such as alcohol, dairy products, processed-fruits manufacturers, milk-based drinks, cold drinks, and others having high market share in food and beverages.
North America is one of the major markets having huge potential for the development and growth for the smart food packaging in its regional market. The consumers in the U.S., Mexico, and others are seeking extended shelf stability and sustainable food in their busy lifestyles and hectic schedule. The manufacturers are now more focussed on innovating and evolving new technologies in the food packaging process to cater to the demand for increased packaged, convenience, and processed food in the country.
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Asia Pacific is the major producer and consumer of dairy products and fruits, such as mangoes. The manufacturers export their products and fruits through international trade, which requires smart food packaging technologies in their packaging. The rising number of investors and manufacturers in the food and beverages sector in the region is expected to boost the global smart food packaging market.
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