Global Smart Packaging Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 4.15 % through 2020 to 2026, reaching nearly US$ XX Mn.
The global Smart Packaging market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Smart Packaging report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Smart Packaging Market
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Global Smart Packaging Market Overview:
Smart packaging refers to packaging systems that have embedded sensor technology that is used to package foods, medications, and a variety of other items. It’s utilized to improve product and consumer safety by extending shelf life, monitoring freshness, displaying quality information, and extending shelf life. Furthermore, smart packaging provides new economic potential based on digitalization, and so falls within the scope of Industry.
Global Smart Packaging Market Dynamics:
Factors such as demographic and economic shifts, demand for processed foods, the need to extend the shelf life of packaged products, food safety concerns, rising health awareness, and the need for better supply chain management are all driving demand for smart packaging in the food processing and pharmaceutical industries. As a result, the benefits of smart packaging such as reduced food waste, increased food safety, customer convenience, and improved food supply chain management, and increased sales of packaged foods and beverages are predicted to drive demand for smart packaging. Furthermore, smart packaging is becoming more popular in the pharmaceutical industry, owing to issues such as prescription mistakes and counterfeit pharmaceuticals. According to a survey conducted on behalf of MeadWestvaco (a packaging company located in the United States), 30% to 50% of prescribed medications are taken wrongly.
The growth of the smart packaging market is fueled by changes in lifestyle patterns as a result of increased urbanization, particularly in emerging economies, and an increase in beauty product used as a result of technological advancements.
Global Smart Packaging Market Segment Analysis:
Based on Packaging Technology, the modified atmosphere packaging accounted for the highest part of the entire smart packaging market in 2020. The growing demand for fresh and high-quality packaged food goods such as bread, fruits and vegetables, processed meat, fish, seafood, and dairy products is largely responsible for this segment’s big share. In addition, the on-the-go lifestyle, the change toward easy-to-handle & convenient packaging, and growing economies all contribute to the market’s need for modified atmosphere packaging. The intelligent packaging segment, on the other hand, is expected to grow at the fastest rate during the forecast period.
Global Smart Packaging Market 1
Based on Application, the pharmaceutical segment is predicted to have the greatest CAGR of XX% over the forecast period. The increased integration of barcodes, RFID, and sensor technologies in the pharmaceutical business to monitor information such as medications’ expiration dates, consumption, and doses, as well as innovations in the pharmaceutical business, are all contributing to this segment’s massive growth. In 2020, however, the food and beverage segment dominated the majority of the smart packaging market.
Global Smart Packaging Market Regional Insights:
Globally, North America held the largest share of the global smart packaging market in 2020. The expanding demand for packaged and frozen goods, greater food safety concerns, and changing lifestyles owing to urbanization are all factors contributing to North America’s leadership position in the smart packaging market. The United States leads the smart packaging market in North America, followed by Canada. The growing food safety concerns among consumers as a result of food safety events, as well as the increasing adoption of active and intelligent packaging as a result of urbanization, are the key causes leading to the country’s greatest share.
On the other hand, due to significant investments in the healthcare industry, Asia Pacific is likely to see rapid growth in smart packaging in the future years. Other factors boosting demand in the Asia Pacific smart packaging market include consumers in emerging nations such as China, India, and Thailand are becoming more urbanized and changing their lifestyles.
However, due to rising consumer per capita income, the Middle East is the moderately growing region, resulting in large expenditures in the automobile, healthcare, personal care, and retail industries.
Global Smart Packaging Market 2
The objective of the report is to present a comprehensive analysis of the global Smart Packaging market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Smart Packaging market dynamics, structure by analyzing the market segments and project the global Smart Packaging market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Smart Packaging market make the report investor’s guide.
Global Smart Packaging Market Scope: Inquire before buying
Global Smart Packaging Market 3
Global Smart Packaging Market, by Region
• North America
• Asia Pacific
• The Middle East and Africa
• South America
Global Smart Packaging Market Key Players
• Avery Dennison Corporation
• American Thermal Instruments
• Temptime Corporation
• Smartrac N.V.
• BASF SE
• Thin Film Electronics
• Stora Enso
• International Paper
• Amcor Plc.
• Emerson Electric Co.
• R.R. Donnelly & Sons (RRD) Company
• Sealed Air Corporation
• Smartglyph Ltd.
• Huhtamaki Group
• Other Key Players
About This Report
This Report Is Submitted By : Maximize Market Research Company
Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.