Smart Packaging Market by Type (Active Packaging, Intelligent Packaging, and Modified Atmosphere Packaging), End User (Food & Beverage, Healthcare, Automotive, Personal Care, and Others), and Material (Solid and Liquid): Global Opportunity Analysis and Industry Forecast, 2021–2030
The global smart packaging market size was $22,257.6 million in 2020, and is expected to reach $38,662.0 million by 2030, with a CAGR of 5.5% from 2021 to 2030. Smart packaging is a type of system that provides smart solutions to the customers and users with the help of sensors and other smart equipment installed in it. It is used for the packaging purpose of different products such as pharmaceuticals and food that require complete monitoring over the freshness and quality. Smart packaging solutions help in providing information over the quality of product, improve customers safety, product safety, display the freshness, and extend the shelf life.
The major driving factor of smart packaging market is the growing concerns over the type of packaging for cosmetics and beauty products that use plastic packaging, which increases the concerns of manufacturers over the use of plastics as it can lead to environmental problems. This leads to adoption more ecofriendly solutions of packaging. In addition, with change in lifestyles of people, they demand four basic aspects in packaging that include protection & preservation, communication & marketing, containment, and convenience. People are more concerned regarding the freshness of food, and are inclined more toward the protection of food against dirt, heat, cold, insects, oxygen, and microbes. In addition, people notice the information of the product such as nutritional facts, preparation instructions, and ingredients list that could be provided through the smart packaging system. Hence, all these aforementioned factors result in the adoption of smart packaging solution.
However, the major factor restraining the smart packaging market is its cost. As it comes with technological advanced features such as installed sensors and Radio frequency identification (RFIDs), the price of smart packaging systems goes high, and not all manufacturers can afford to pay for such packaging. In addition, it could lead to privacy breach, as it collects the data of consumers that could leads to conflictive situations according to manufacturers, thus restraining the smart packaging market.
E-commerce industry is growing over the years as purchasing and shopping are done online. The concerns regarding tracing the product, its location, shipper’s warehouse information, delivery partner information, and manufacturer’s facility information are important aspect to provide product security to customers. In addition, developed, underdeveloped, or developing countries use e-commerce. Hence, these above-mentioned technological advancements in the e-commerce industry create new opportunities for the smart packaging market.
The smart packaging market is segmented on the basis of type, end user, material, and region. Based on type, the market is categorized into active packaging, intelligent packaging, and modified atmospheric packaging. Depending on end user, the market is classified into food & beverage, healthcare, automotive, logistics, personal care, and others. As per material, the market is divided into solid and liquid. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players profiled in the smart packaging market include 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). Major companies in the market have adopted product launch, business expansion, partnership, and acquisition as their key developmental strategies to offer better products and services to customers in the smart packaging market.
KEY BENEFITS FOR STAKEHOLDERS • The report provides an extensive analysis of the current trends, future estimations, and dynamics of the smart packaging market.
• In-depth smart packaging market analysis is conducted by estimations for the key segments between 2021 and 2030.
• Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
• A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
• The market forecast analysis from 2021 to 2030 is included in the report.
• The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market industry.
GLOBAL SMART PACKAGING MARKET SEGMENTS
- By Type
- Active Packaging
- Intelligent Packaging
- Modified Atmosphere Packaging
- By End User
- Food & beverage
- Personal care
- By Material
- By Region
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
KEY PLAYERS • 3M
• Avery Dennison Corporation
• Ball Corporation
• BASF SE
• International Paper
• R.R. Donnelley & Sons Company
• Stora Enso
• Sysco Corporation
• Zebra Technologies Corp. (Temptime Corporation)
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• Jun 2022
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