Global Smart Packaging Market is anticipated to reach USD 26.7 billion by 2024. Smart Packaging is also known as “Intelligent Packaging” or “Active Packaging”. Smart packaging is used for personal care, food & beverages, automotive and healthcare products. They provide extended shelf life, monitor freshness, ensure safety and improve suitability.

The factors that propel the growth of the market include changes in lifestyle patterns owing to surge in consumption of cosmetics and beauty products, rapid urbanization, and technological development in the packaging. On the other hand, there are factors that may hamper the growth of the market including intelligent packaging and high cost. Smart Packaging industry is anticipated to grow at a significant CAGR of 10.6% of in the upcoming period as the scope, product types, and its applications are increasing across the globe.

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The industry may be explored by type, end users, technology type, driver, and geography. The market may be explored by type as industry verticals as Automotive, Food & Beverages, Personal Care, Healthcare, and Others. The “Food and Beverages” segment led the Smart Packaging Market in 2016 and is anticipated to maintain its dominance by 2024.

The market could be explored based on end users as Food & beverage, Logistics, Automotive, Healthcare, Personal care, and Others. The “Food & Beverage” segment led the Smart Packaging Market in 2015 and is anticipated to maintain its dominance by 2024 owing to increasing use of active products in the food & beverage industry coupled with rising importance to preserve the safety and quality of packaged products from manufacturing to the time the food is consumed is expected to drive the development of market.

The industry may be analyzed by technology type as Intelligent, Active, and MAP. The “Active packaging” segment led the smart packaging industry in 2015 and is anticipated to maintain its dominance by 2024 owing to high use in pharmaceutical, food and beverage, and personal care sector due to its corrosion protection and superior moisture control properties. The market may be analyzed by driver shelf life, brand protection and safety.

North America accounted for the major share of the Smart Packaging Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth includes fast development in the industries such as pharmaceutical, food & beverage, logistics, automotive, and manufacturing coupled with stable recovery from economic recession is anticipated to propel the demand over the forecast period. Increasing expenditure ability of consumers coupled with rising concerns on improving the general health in the region is anticipated to propel the smart packaging industry over the forthcoming period.

Some of the key players that fuel the growth of the smart packaging industry comprise Constar International Inc., Crown Holdings Inc., Bemis Company, Inc., Ball Corporation, Ampacet Corporation, Multisorb Technologies, Graham Packaging Company Inc., Sysco Corporation (Fresh Point Services), Rexam PLC, and Timestrip, PLC. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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Protection of products from harsh environment, right from the manufacturing stage to the transportation and consumption stages is an important aspect for both the manufacturer and the consumer. Smart packaging materials integrated with volatile corrosion inhibitors (VCI), radio-frequency identification (RFID), and time-temperature indicators are gaining popularity to ensure the credibility and safety of the products. According to a business analysis report by IndustryARC, the global smart packaging market size stood at $28.90 billion in 2018, and the market is poised to grow at a compound annual growth rate (CAGR) of 6.80% during the forecast period 2019-2025.

The report is titled “

Smart Packaging Market: By Type (Active, Interactive, Intelligent, Controlled Permeability, Modified Atmosphere Packaging); By Packing technology (Indicators, Sensors, RFID Tags, NFC Tags); By Packaging function (Protection, Containment, Communication); By End-User industries (Personal care, Food & Beverages, Pharmaceuticals, Automotive)& Geographic Analysis - Forecast (2019-2025).” This report incorporates trends, growth drivers, financial overview, business strategies, and recent developments in the global smart packaging market. Furthermore, the report also digs into the challenges that expected to affect the market and the remedies that can alleviate these challenges.

Smart Packaging Market: Leading Segments

North America is the dominant region in the global smart packaging market, with a 34% of the total smart packaging market share. This hefty share can be attributed to the well-established packaging food industry in the continent. Additionally, the region possesses huge opportunities in the pharmaceutical sector, which can prove to be a significant growth factor for the smart packaging market.

Smart packaging in food products in undeniably essential to improve the quality of food and increase the shelf life of food. The food and beverages industry stands as the most lucrative application segment in the global smart packaging market and the demand here is estimated to increase at a CAGR of 6% through 2025.

Smart Packaging Market Industry Analysis

· According to the Organization for Economic Co-operation and Development (OECD), the exchange of pirated products is worth nearly half a trillion dollars annually. With the help of smart packaging materials, the transaction of fake and pirated products can be reduced significantly.[1]

· With the rapid industrialization, the aspect of brand protection arises. Incorporating smart packaged labels will ensure credibility in the brand name, subsequently driving the smart packaging market.

· Growing consumer concerns related to food safety & quality and stringent norms from the governments to minimize food wastage are flooding investments towards the global smart packaging market.

Smart Packaging Market Trends

Bio-based Plastic: A large section of the world is working to achieve sustainability in almost every sector. Introduction of bio-degradable plastic films for packaging is one such initiation taken up by the key players and niche companies in the packaging market. Recyclable and anti-microbial packaging materials are being produced with the help of enhanced technologies in the smart packaging market.

QR Code: The innovative display artwork developed with thermochromic inks to detect product authorization is one of the latest technologies that is being employed in the smart packaging industry. These QR codes are featured on the packaging labels of the products which can be scanned to prove the credibility of the products. These codes can be read through consumers’ smartphones easily, offering brand authenticity with product details.

Global Smart Packaging Market: Competitive Landscape

Some of the key players mentioned in the report that are currently leading the smart packaging market are Amcor Limited, Bemis Company, Inc., ULMA Packaging, DuPont, Multisorb Technologies, Inc., Avery Dennison Corporation, Point Five Packaging LLC, Sealed Air Corporation, Bemis Company, Inc., Winpak Ltd., and Dansensor AS.

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Related Reports:

A. Sustainable Packaging Market
https://www.industryarc.com/Report/15202/sustainable-packaging-market.html

B. Tube Packaging Market
https://www.industryarc.com/Report/15144/tube-packaging-market.html

C. Anti-Counterfeit Packaging Market
https://www.industryarc.com/Report/15178/anti-counterfeit-packaging-market.html

What can you expect from the report?
The global smart packaging market is prepared with the main agenda to cover the following 20 points:

1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)

2. Market trends & Relevant Market Data 12. Country level Analysis

3. Manufacturer Landscape 13. Competitor Analysis

4. Distributor Landscape 14. Market Shares Analysis

5. Pricing Analysis 15. Value Chain Analysis

6. Top 10 End user Analysis 16. Supply Chain Analysis

7. Product Benchmarking 17. Strategic Analysis

8. Product Developments 18. Current & Future Market Landscape Analysis

9. Mergers & Acquisition Analysis 19. Opportunity Analysis

10. Patent Analysis 20. Revenue and Volume Analysis

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1. Increase the level of data in the application or end user industry chapter

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5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment

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