Overview OF Global Smart Packaging Market:
The global smart packaging market was worth around USD 22781.7 million in 2021 and is estimated to grow to about USD 31056.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.3 percent over the forecast period.
Smart packaging is used to increase package convenience and security. It also ensures product freshness, quality, and shelf life. Pharmaceuticals, food, and beverages are all common uses for smart packaging. It aids in the protection of the packed goods from moisture and corrosion, as well as temperature regulation. Active packaging and intelligent packaging are the two types of smart packaging. Active packaging improves the packaging’s functionality, whereas intelligent packaging conveys the content’s status. Smart packaging comes in a variety of sizes to fit a variety of items.
North America is expected to hold a sizable market share.
In North America, the United States has the largest market value share, followed by Canada. The predicted increase in the market in the region is due to the growing working population and the increasing demand for interactive and enhanced packaging solutions.
The United States has one of the busiest consumer marketplaces in the world, with consumers accounting for a large portion of the workforce. Because of the expanding population, there has been a significant increase in the demand for food and beverages (both, from within and due to immigration).
To satisfy the enormous demands of the food business, the volume of food imported from various countries across the world has increased significantly, boosting the demand for smart packaging solutions in the region.
The global need for smart packaging in the North American region has been spurred by the extension of food shelf life and increased investment.
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Global Smart Packaging Market Segmentation:
Segmentation by technology:
- Intelligent Packaging
- Active Packaging
- Modified Atmosphere Packaging
Segmentation by application:
- Personal Care
- Food and Beverages
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Insights from the Report
- The market is divided into active and intelligent smart packaging based on the kind of smart packaging. Active packaging is the industry leader in smart packaging, as it interacts with the product’s content and helps to extend the shelf life or improve the product’s quality during storage. When it comes to intelligent packaging, it’s the newest technology in the packaging industry, and it’s increasing at a rapid rate. Its goal is to give consumers huge convenience by providing extra benefits of communication with the outside world. Diagnostic and indication features that use indicators or sensors to monitor the status of the product and provide information on tightness, storage time, temperature, or freshness are examples of added benefits.
- The market is divided into food and beverage, healthcare, automotive, personal care, and electronics segments based on application. The food and beverage industry has widely implemented smart packaging, which is primarily attributed to the prevention of food deterioration, the enhancement of qualities such as flavor and aroma of fruits and vegetables, and the extension of the product’s shelf life.
- A detailed analysis was conducted for different countries in the region, including North America (United States, Canada, and the Rest of North America), Europe (Germany, UK, France, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of APAC), Latin America (Brazil, Argentina, and the Rest of Latin America), and MENA (the Middle East and North Africa) (UAE, Saudi Arabia and rest of MENA).
- 3M, Avery Dennison Corporation, Ball Corporation, BASF SE, Crown, International Paper, R.R. Donnelley & Sons Company, Stora Enso, Sysco Corporation, and Zebra Technologies Corp. (Temptime Corporation). are some of the main competitors in the market.
Reasons to access this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- Examination of industry attractiveness with the help of Porter’s Five Forces analysis
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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