Global Smart Packaging Market, By Type (Active Packaging, Intelligent Packaging, Interactive Packaging, Controlled Permeability Packaging, Modified Atmosphere Packaging), Packaging Technology (Indicators, Sensors, Data Carriers), Packaging Functionality (Protection, Containment, Communication, Convenience), End Use Vertical (Food, Beverage, Healthcare, Personal Care, Automotive, Logistics, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Smart Packaging Market
Smart packaging market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 6.58% in the above-mentioned forecast period.
Smart packaging is basically packaging integrated with different technologies like biosensors and radio frequency identification technology. It is a collection of advanced packaging methods and integration of various innovative technological methods that are applicable in packaging of contents that are sensitive in nature and require better traceability. The smart packaging solutions enable the consumers to gather greater information on the quality and freshness of the contents helping improve the convenience and safety levels and even can extend the overall shelf life of the contents in an efficient manner.
The increasing demands for temperature controlled packaging solutions from the food and beverages and pharmaceutical industries due to their temperature sensitive contents is driving the growth in the market value. Moreover, companies which are in this business now-a-days are using labels for parts identification, branding which further induce the demand for the market. However, the high costs of implementation and production initially will create hindrances for the market growth rate.
The number of technologically advanced innovations presented by the major market players provide profitable opportunities for the growth of the market. The Lack of awareness amongst the various consumers which is resulting in lack of preference for these smart solutions, is projected to further dampen the market growth rate, resulting in generating challenges for the market’s growth rate.
This smart packaging market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart packaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Packaging Market Scope and Market Size
Smart packaging market is segmented on the basis of type, packaging technology, packaging functionality and end user vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Smart packaging market on the basis of type has been segmented into active packaging, intelligent packaging, interactive packaging, controlled permeability packaging and modified atmosphere packaging. Active packaging has been segmented into antimicrobial, gas scavengers, moisture control, corrosion control and others. Gas scavengers are further segmented into oxygen scavengers, carbon dioxide scavengers and generators and ethylene (ethane) scavengers. Intelligent packaging is sub-segmented as indicators and tracking devices. Indicators are further sub-segmented into time-temperature indicators, gas indicator, quality indicators and thermochromic ink. Tracking devices are also further segmented into radio frequency identification detection (RFID) and near-field communication (NFC). Modified atmosphere packaging has been segmented into active modified atmosphere packaging and passive modified atmosphere packaging.
- On the basis of packaging technology, the market has been categorized as indicators, sensors and data carriers. Sensors have been sub-segmented as biosensors and gas sensors. Data carriers have been sub-segmented into bar codes, radio frequency identification detection (RFID), 2D matrix codes, quick response codes and augmented matrix codes.
- Based on packaging functionality, the smart packaging market consists of protection, containment, communication and convenience.
- Smart packaging market has also been segmented based on end use vertical into food, beverage, healthcare, personal care, automotive, logistics and others. Others consist of electronic goods.
Smart Packaging Market Country Level Analysis
The smart packaging market is analyzed and market size insights and trends are provided by type, packaging technology, packaging functionality and end user vertical as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is estimated to dominate the smart packaging market and will continue to flourish its trend of dominance during the forecast period due to the m existing infrastructure availability for smart warehousing, logistics and packaging. Asia Pacific is projected to show lucrative growth due to high demands for packaged food and associated packaged products that require increased concerns and care in the logistics cycle.
The country section of the smart packaging market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Packaging Market Share Analysis
The smart packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart packaging market.
Some of the major players covered in the smart packaging market report are 3M, Sealed Air, Bemis Company, Inc., Point Five Packaging, LLC, Mocon Denmark Holding ApS, Praxair Technology, Inc., Amcor plc, Avery Dennison Corporation, R.R. Donnelley & Sons Company, Stora Enso, DuPont de Nemours, Inc., American Thermal Instruments, Crown, Ampacet Corporation, Multisorb, Timestrip UK Ltd., ULMA Group, WestRock Company, UPM, LCR Hallcrest among others.