Active and Smart Packaging Market| Valued at USD 25,982.4 Million in 2022

According to Precision Business Insights (PBI), the latest report, the global active and smart packaging market is valued at USD 25,982.4 million in 2022 and is expected to grow at a CAGR of 5.9% during the forecast period 2022-2028. The primary drivers of the expansion of the global active and smart packaging market include the growing importance for advanced technological packaging, increasing demand for flexible packaging for food products.

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Food & Beverages segment to dominate the global active and smart packaging market:
Based on End users, which is further categorized into food & beverages, personal care, automotive, healthcare and Others. Among these the food & beverages segment is expected to record a highest market share than the active and smart packaging market. Due to the growing demand for the packaged foods worldwide, as the industry is creating an innovative way of packaging which can preserve food for long time, and increase life shell of the products are the factors which are resulting in the growth of the market.

North America active and smart packaging Market:
North America is expected to become the world market of active and smart packaging worldwide and is expected to acquire the market in the coming years. Due to increasing food & beverages businesses and in addition the growing demand for packed food products in the region, and government regulations to control the wastage of food by using these active and smart packaging products. The Asia pacific market is also significantly showing up a decent growth rate, due to its expanding food industry and it also adapting the lifestyle, where consumer preference is more on the packed foods and which are easy to handle. The Europe region is expected to grow moderately in the global active and smart packaging market.
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.

The global active and smart packaging market: further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In May 2022- Avery Dennison announced its strategic partnership with Wiliot, a developer and provider of digital ID technologies to scale the IoT through the integration of atma.io and the manufacturing of Wiliot tags, which will help to create an intelligent and fully connected IoT based sensor tags for packaging.

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The global active and smart packaging market is segmented based on type, end-user, and geography.
Based On the Type, The Market is Segmented into the Following:
• Gas Scavengers/emitters
• Moisture Scavengers
• Microwave Susceptors
• Others

Based On the End-user, The Market is Segmented into the Following:
• Food & Beverages
• Personal Care
• Automotive
• Healthcare
• Others

Based On the Geography, The Market is Segmented into the Following:
• North America
• Europe
• Asia-Pacific
• South America
• MEA

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Key players' profiles in the global active and smart packaging market report are Avery Dennison, Amcor Ltd, Multisorb Technologies, Sealed Air Corporation, West rock company, Ball Corporation, Timestrip, Crown Corporation, Sysco Corporation, Paksense Incorporation, Eastman Chemical Company.

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