LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Active and Intelligent Packaging Market - Procurement Intelligence Report.
Food and beverage and the pharmaceutical are the two major end-users that are contributing to the spend growth in the active and intelligent packaging market. Buyers from the food and beverage sector are adopting active packaging solutions to enhance the shelf life of frozen food that is gaining immense popularity across geographies. This sector alone accounted for about 50% of the entire market share last year and is expected to continue impacting the active and intelligent packaging market size on a global scale. Intelligent packaging solutions are widely being adopted by buyers in the pharmaceutical sector with a view to improve the traceability of products. Such packages enable easy access to information pertaining to medicine through smartphone scanning. Their NFC tag features improving the traceability of the products in the supply chain. Request a Free Sample of this active and intelligent packaging market procurement intelligence report here!
In terms of regional spend, APAC is leading among the geographies. The popularity of frozen food that require active packaging is acting as one of the primary drivers of the category spend growth and is influencing the active and intelligent packaging market size in the region. Meanwhile, in the US, the intelligent packaging segment accounted for nearly 28% of the entire category market in 2018 and is expected to continue growing at a faster rate than the active packaging segment. Buyers from the food and beverages segment in the US are adopting nanomaterials and biosensors for detecting the accumulation of gases within packaged food items. This is expected to drive the category demand growth during the forecast period.
Insights offered in this active and intelligent packaging market procurement intelligence report include supply market forecasts, major cost drivers, and category management insights. Such insights are relevant for both the buyers and the suppliers who seek a risk-free and a cost-effective procurement strategy. The category spend segmentation done in this procurement intelligence report will guide the investors in identifying the best investment areas as well as help them in identifying cost-saving opportunities in the market. Get a Free Customization of this procurement intelligence report on the active and intelligent packaging market to get information tailored to your every requirement.
“Buyers are advised to select suppliers based on their ability to provide VMI support for active and intelligent packages,” says SpendEdge procurement expert Tridib Bora. “Suppliers are expected to ensure low inventory holding costs and zero stock-out levels, as this will help buyers ensure continuity of operations,” added Tridib.
This active and intelligent packaging market procurement intelligence report has estimated the following cost drivers to influence the category growth in the coming years:
- Growing need for enhancing the shelf life of products will drive the category demand
- Rise in the number of advanced convenience stores will drive the category demand
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SpendEdge’s procurement market intelligence reports for the packaging and labeling category provide detailed supply market forecasts and cost drivers that impact category growth. Such information will help procurement managers as well as the suppliers to determine the total cost of ownership and change their procurement strategies accordingly. Additionally, SpendEdge’s reports provide category management insights and information on the procurement best practices for the category.
Report scope snapshot: Active and intelligent packaging
Category pricing insights
- Pricing outlook
- Total cost of ownership analysis
- Supplier cost structure
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- Supplier-side levers
- Buyer-side levers
- Quantifying cost savings by negotiation strategies
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- Competitiveness index for suppliers
- Buyer power
- Supplier power score
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