Market Size of Latin America Active and Intelligent Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Active & Intelligent Packaging Market Analysis
The Latin America Active and Intelligent Packaging market is expected to register a CAGR of 5.2% over the forecast period (2021 - 2026). With the recent COVID 19, the active and intelligent packaging manufacturers were flooded with a pool of issues expected to last only for the short term. Some of the lockdown effects include supply chain disruptions, lack of availability of raw materials used in the manufacturing process, labor shortages, fluctuating prices that could cause the final product's production to inflate and go beyond budget, and shipping problems.
- With the growing urban population and changing lifestyle trends worldwide, the demand for ready-to-eat, frozen meat, and packaged food is increasing. The supply of frozen foods, meat products, vegetables, and fruits surpass boundaries, giving regional markets global exposure. Moreover, with the retail industry propelling rapidly, the need for attractive and advanced packaging is also increasing.
- The increase in counterfeit products, especially in the pharmaceutical and personal care industries in emerging economies, also compelled companies to use technologies, such as RFID, during packaging. All these factors account for a substantial rise in the demand for active and intelligent packaging. However, the initial capital needed due to higher costs of installation and implementation and security issues regarding these systems is challenging the market's growth.
- RFID is one of many automatic identification technologies that offer some potential benefits to meat production, distribution, and retail chain. These include traceability, inventory management, labor-saving costs, security, and the promotion of quality and safety. The prevention of product recalls it is also considered a key role of RFID technology. Thus, it acts as a major driving factor for the increased demand from the customers for such products for packaging.
- Although intelligent packaging is distinctly different from active packaging, the features of intelligent packaging enable the user to use it to check the effectiveness and integrity of active packaging systems, bringing added features and complementing each other. Intelligent packaging can be considered the enabler of the other packaging features that end-user industries can utilize, and in the process, help their customers offer quality products.
- Furthermore, the introduction of revolutionary industry 4.0 and the spread of the pandemic has increased the use of connected packaging powered by various software such as Microsoft Azure cloud services to benefit the retailers/e-tailers, brand owners, and food manufacturers in the region. This is driving the market studied.
Latin America Active & Intelligent Packaging Industry Segmentation
Active and intelligent packaging involves the use of permitted additives in packaging films, or within packaging containers, for the maintenance and extension of product shelf life. Active packaging allows packages to interact with food and the environment and plays a dynamic role in food preservation. On the other hand, Intelligent packaging is characterized by the ability to monitor the condition of packed food and the environment by offering information about factors during storage and transportation.
| By Type | ||||||
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| By End-user Vertical | |
| Food | |
| Beverage | |
| Healthcare | |
| Personal Care | |
| Other End-user Verticals |
| By Country | |
| Brazil | |
| Mexico | |
| Rest of Latin America |
Latin America Active and Intelligent Packaging Market Size Summary
The Latin America Active and Intelligent Packaging market is experiencing a steady growth trajectory, driven by evolving consumer demands and technological advancements. The increasing urban population and shifting lifestyle trends have led to a surge in demand for ready-to-eat and packaged foods, necessitating advanced packaging solutions. The retail industry's rapid expansion further amplifies the need for attractive and functional packaging. Additionally, the rise in counterfeit products, particularly in the pharmaceutical and personal care sectors, has prompted the adoption of technologies like RFID to enhance product security and traceability. Despite the challenges posed by initial capital costs and security concerns, the market is poised for growth as companies seek to offer quality products with extended shelf life and reduced environmental impact.
The market landscape is moderately consolidated, with key players such as BASF SE, Amcor Ltd, and Honeywell International Inc. actively investing in strategic partnerships and product innovations to capture a larger market share. The introduction of Industry 4.0 and the pandemic's impact have accelerated the adoption of connected packaging solutions, benefiting retailers, brand owners, and food manufacturers. The demand for intelligent packaging is further bolstered by the need for efficient supply chain management and the prevention of product recalls. As companies continue to develop cost-effective and sustainable packaging solutions, the Latin America Active and Intelligent Packaging market is expected to witness significant growth, driven by the increasing reliance on processed and packaged foods and the growing importance of product safety and quality.
Latin America Active and Intelligent Packaging Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Value Chain Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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1.4 Market Drivers
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1.4.1 Longer Shelf Life and Changing Consumer Lifestyle
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1.4.2 Growing Demand for Fresh and Quality Food Products
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1.5 Market Challenges
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1.5.1 Issues with the Effects of Packaging Materials on the Human Body
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1.5.2 Security and Privacy Issues in the Case of Intelligent Packaging
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Active Packaging
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2.1.1.1 Gas Scavengers/Emitters
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2.1.1.2 Moisture Scavenger
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2.1.1.3 Microwave Susceptors
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2.1.1.4 Other Active Packaging Technologies
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2.1.2 Intelligent Packaging
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2.1.2.1 Coding and Markings
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2.1.2.2 Antenna (RFID and NFC)
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2.1.2.3 Sensors and Output Devices
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2.1.2.4 Other Intelligent Packaging Technologies
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2.2 By End-user Vertical
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2.2.1 Food
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2.2.2 Beverage
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2.2.3 Healthcare
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2.2.4 Personal Care
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2.2.5 Other End-user Verticals
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2.3 By Country
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2.3.1 Brazil
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2.3.2 Mexico
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2.3.3 Rest of Latin America
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Latin America Active and Intelligent Packaging Market Size FAQs
What is the current Latin America Active and Intelligent Packaging Market size?
The Latin America Active and Intelligent Packaging Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Latin America Active and Intelligent Packaging Market?
BASF SE, Amcor Ltd, Honeywell International Inc, Landec Corporation and Crown Holding Inc. are the major companies operating in the Latin America Active and Intelligent Packaging Market.
