Global Smart Packaging Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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The Smart Packaging Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global smart packaging market report has been segmented on the basis of technology, application, and region.
This Smart Packaging Market report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.
Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.
Smart Packaging Market Overview:
“The Smart Packaging Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Smart packaging is used to improve the convenience and safety of packages. It also maintains the freshness, quality, and shelf life of products. Commonly, smart packaging is used for pharmaceuticals, food, and beverages.
It helps to protect the packed product from moisture, corrosion and also regulates the temperature. smart packaging can be divided into two types active packaging and intelligent packaging.
Active packaging enhances the functionality of the packaging, whereas intelligent packaging communicates the status of the content. Smart packaging is available in various sizes for different types of products.
Smart Packaging Market Dynamics:
Increasing demand for functional and smart packaging to maintain the quality of products is a major factor driving the growth of the global smart packaging market.
Increasing trade activities related to food and beverages, as well as convenient food items is another factor fueling the growth of the global market. Smart packaging contains QR codes, bar codes, or other printed codes that can provide information regarding the contents of the package.
The growing importance of the Internet of things (IoT) to receive information in real-time is another factor propelling the growth of the global market.
Furthermore, changing lifestyles and rising disposable income are factors expected to boost the growth of the global smart packaging market in the near future.
However, the high cost of smart packaging may hamper the growth of the global smart packaging market. In addition, some types of smart packaging materials are not recyclable, which is another factor that may affect the growth of the global market.
Nevertheless, the introduction of biodegradable smart packaging can create high revenue opportunities for players in the target market.
Smart Packaging Market Segment Analysis:
On the basis of technology, the market is segmented into intelligent packaging, active packaging, and modified atmosphere packaging.
The modified atmosphere packaging segment is expected to witness high growth over the forecast period, owing to its various functions such as temperature and moisture control.
Smart Packaging Market Regional Analysis:
The market in North America is expected to account for a major share in terms of revenue and is expected to witness high growth over the forecast period. The presence of key players and growing pharmaceuticals, as well as food & beverages industries, are factors driving the growth of the target market in this region.
The Europe market is expected to register the second-highest growth rate in terms of revenue in the near future, owing to the higher adoption of new technology in this region.
The markets in Latin America and Middle East & Africa are expected to register a moderate growth rate in the global smart packaging market over the forecast period.
Global Smart Packaging Market Segmentation:
Segmentation by technology:
- Active Packaging and Intelligent Packaging
- Modified Atmosphere Packaging
Segmentation by application:
- Personal Care
- Food and Beverages
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- 3M Company
- TempTime Corporation
- PakSense, Inc.
- American Thermal Instruments
- Avery Dennison Corporation
- R. Donnelley & Sons Company
- BASF SE
- International Paper Company
- Stora Enso Oyj
- Thin Film Electronics ASA
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