Albany, NY -- (SBWire) -- 04/14/2021 --The global active, smart and intelligent packaging market for cosmetics and personal care was valued at US$ 145.4 million in 2018. The active, smart and intelligent packaging market for cosmetics and personal care is projected to expand at a CAGR of 7.8% during the forecast period of 2019-2027.
By function, the global active, smart and intelligent packaging market for cosmetics and personal care is segmented into protection and security, indication, track and trace, and authenticity. The protection and security function in the active, smart and intelligent packaging market for cosmetics and personal care is further categorized into corrosion, atmospheric gas, physical damage, and anti-theft. The indication function in the active, smart and intelligent packaging market for cosmetics and personal care is further categorized into time and temperature, quality and safety, freshness, and product level.
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Multifunction Sensors are Propelling the Growth of the Active, Smart and Intelligent Packaging Market for Cosmetics and Personal Care
In the active, smart and intelligent packaging market for cosmetics and personal care, the track and trace function is estimated to be a prominent function, followed by protection and security. Active, smart and intelligent packaging for cosmetics and personal care is highly preferred for tracking, tracing, and security functions. Active, smart and intelligent packaging for cosmetics and personal care has significant applications in retail outlets and supply chain processes for security, protection, and track and trace. The shipment of cosmetics and personal care products through different modes is creating the extensive need for proper track and trace functions embedded with multifunctional sensors.
Retail Outlets are Attributed to Boost the Demand for the Anti-Theft Function Type
In the protection and security function in the active, smart and intelligent packaging market for cosmetics and personal care, the anti-theft sub-segment is expected to experience growing demand, owing to the availability of cost-efficient RFID and NFC tags and labels in the market. Anti-theft tags and labels with high and low frequencies are estimated to be more popular products for organized consumer goods and apparel retail stores. Other than the anti-theft functionality, the corrosion-resistant and physical damage segments are anticipated to witness impressive growth in the active, smart and intelligent packaging market for cosmetics and personal care.
Research Activities Anticipated to Provide Impressive Growth for the Active, Smart and Intelligent Packaging Market for Cosmetics and Personal Care
In the active, smart and intelligent packaging market for cosmetics and personal care, the indication function is estimated to hold a market share of less than 7% in 2019, and expected to witness sluggish growth during the forecast period. As compared to food packaging, the adoption of active packaging is low in cosmetics and personal care packaging. Ongoing research and development for the acceptance of active packaging to reduce preservatives in products and increase shelf life is expected to boost the demand for active packaging from key players of cosmetics and personal care.
Consumer interaction and counterfeiting are estimated to be key concerning factors in the active, smart and intelligent packaging market for cosmetics and personal care. In the active, smart and intelligent packaging market for cosmetics and personal care, the implementation of smart codes and labels is increasing for improving the interaction between consumers and brands with the help of Internet of Things (IoT) technologies. In the global active, smart and intelligent packaging market for cosmetics and personal care, authenticity is expected to witness high demand throughout the forecast period.
Significant key players performing in the active, smart and intelligent packaging market for cosmetics and personal care are 3M Company, LCR Hallcrest LLC, Thin Film Electronics ASA., Amcor Limited, Bemis Company, Inc., CCL Industries Inc., Coveris Holdings S.A., Sealed Air Corporation, Crown Holdings, Inc., Landec Corporation, PakSense, Inc., Temptime Corporation, Multisorb Technologies, Inc., Vitsab International AB, Varcode, Ltd., Cosmogen, Deltatrak Inc., Cryolog S.A., Timestrip UK Ltd., and ShockWatch, Inc.
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Recent developments in the global active, smart and intelligent packaging market for cosmetics and personal care –
In June 2018, Tyco Retail Solutions launched new Sensormatic Health, Beauty and Cosmetic Labels, offering an anti-theft function for cosmetic products, owing to size and shape constraints.
In January 2018, La Roche Posay's My UV Patch by L'Oreal, started using Near-field communication (NFC), and augmented reality technology, supported by a custom mobile app, to deliver a personalized consumer experience, which specifically caters to current consumers' lifestyles and behavioral trends.
Global Active and Smart Intelligent Packaging Market to Expand with Advancements in the Domain of Electronic Manufacturing
The global packaging industry has revolutionized the growth of several industries and sectors. There is no contention about the relevance and indispensable nature of packaging technologies across the domain of manufacturing. Besides, packaging is not just a means to enclose the products into a presentable form, but also a media to attract the attention of the consumers. Large packaging houses and entities consider packaging as a safety net around fragile products. Moreover, the total volume of revenues flowing into the global packaging industry have increased alongside development of new packaging products.
The electronics and semiconductors industry is at the forefront of growth and advancement within the domain of packaging. The need for shielding electronic devices from shocks and damages has necessitated the use of smart and active packaging technologies. Moreover, the humongous relevance of building high-end technologies for packaging across the domain of consumer goods has also aided market growth. There is little doubt about the use of high-end technologies for packaging heavy-duty equipment. This trend has also created a sound play field of opportunities for the vendors operating in the global active and smart intelligent packaging market.
The food and beverages industry has unravelled fresh opportunities for growth within the global active and smart intelligent packaging market. The need for packaging food items has stemmed out of the growing inclination of the masses towards ready to eat meals. Besides, restaurants have also become ardent consumers of food packaging boxes. After easing of lockdowns that were imposed at the outbreak of the coronavirus, the volume of demand experienced across online food delivery channels has skyrocketed. This factor, coupled with advancements in packaging engineering, has enabled the inflow of fresh revenues into the global active and smart intelligent packaging market.
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Active Smart and Intelligent Packaging Market 2021 : Industry Insights, Trends and Forecast 2024