The Latin America Active, Smart and Intelligent Packaging Market was worth USD 4.5 billion in 2022 and estimated to be growing at a CAGR of 6.93%, to reach USD 6.28 billion by 2028.
The packaging of a product not just ensures a secure and safe reach to the final user, but it also significantly affects the way the product is being presented to the consumers from the marketing perspective as well. The food and beverage packaging have shifted from traditional packaging to newer and advanced packaging. Traditional packaging only concerns itself with issues related to protection from factors which are external. However, advanced packaging has interactions related to both internal (active packaging) and external (intelligent packaging) with the environment; and betters the visual appeal of the products. That is why the manufacturers of food and beverages and packaging manufacturers are trying to find new ways by which chemical, physical and microbial textures change inside the packaged food.
Improved technological advancements such as smart packaging, active and intelligent packaging, and modified atmosphere packaging are now dominating traditional methods such as canning. Additionally, smart and active packaging also makes it easier to process bulk transportation. With the recent technological advancements, innovative packaging alternatives are now easily available for the manufacturers to increase their consumer outreach and capture more market share. The food industry in particular, which is currently booming, is the primary driver in the Latin America active, smart, and intelligent packaging market. Also, the escalating demand for packaging that can more effectively control moisture and gas, is among the foremost drivers.
Latin America advanced packaging technology market is experiencing an over-all high growth due to the escalating demand for convenience food such as ready-to-cook meal, the requirement for sustainable packaging and stringent food safety regulations. Growing health awareness, food wastage concerns, and manufacturers’ demand for longer shelf life of the food products and supply chain inefficiencies are the other factors driving the growth of the market. Furthermore, the consumers’ assurance with regards to packaged food, the threat of bioterrorism, organized food safety regulations and increased applications in ready-to-eat meals and frozen foods have created opportunities for advanced packaging technology market.
The Latin America Active, Smart and Intelligent Packaging Market is majorly categorized by Application (Frozen processed food, Dairy, Packaged food, Chilled processed food, Dried processed food, Meat and poultry and Seafood). Based on Technology, the market is further segmented into Active Packaging, Modified atmosphere packaging and Intelligent Packaging. The Modified atmosphere packaging market accounted for the highest revenue in 2016 while Active and smart packaging technology is expected to grow at the fastest rate.
Geographically the Latin America Active, Smart And Intelligent Packaging Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Active packaging market held the second highest market share, with the overall market share of about 30% in Latin America.
Key Players in the Market:
Major Key Players in the Latin America Active, Smart And Intelligent Packaging Market are
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