Summary
Market Overview:
The global smart packaging market size reached US$ 33.7 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 49.8 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.
Smart packaging includes modified atmosphere packaging techniques, such as embedded sensor technology, that are specifically designed to increase and monitor the shelf life of the packed products. The components are generally added with the packaging material to improve the performance of the package system. Mostly utilized with foods and pharmaceuticals, smart packaging enables efficient reporting of external packaging conditions and precisely measures the quality of the inside product from time to time. In addition to this, biosensors are widely deployed in this system since they are instrumental in identifying pathogens and toxic elements. Smart packaging offers numerous benefits, including reduced counterfeiting, improved safety and increased shelf life.
Smart Packaging Market Trends:
The global market is primarily driven by the commercialization of printed electronics. This is supported by the rising adoption of smart labels across organized retail chains. Moreover, considerable progress in the lifestyles led by consumers due to rapid urbanization and digitalization across the globe is acting as a significant growth-inducing factor. In addition to this, the escalating demand for pharmaceutical products and the widespread prominence of online pharmacy services among the masses are creating a positive outlook for the market. In line with this, the continual premiumization of several drugs, especially due to the ongoing COVID-19 pandemic, is further contributing to the market growth. The market is also driven by the growing nanotechnology applications in food and beverage (F&B) applications, expanding online and offline organized retail chains across the world and the increasing consumption of packaged food products. Some of the other factors propelling the demand for smart packaging include the preference for sustainable packaging solutions, extensive research and development (R&D) activities and the integration of these solutions with radio-frequency identification (RFID) technology.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global smart packaging market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology and industry vertical.
Breakup by Technology:
Modified Atmosphere Packaging
Active Packaging
Antimicrobial
Gas Scavengers
Moisture Control
Corrosion Control
Intelligent Packaging
Indicators
Tracking Devices
Breakup by Industry Vertical:
Food and Beverages
Automotive
Healthcare
Personal care
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amcor plc, American Thermal Instruments, Avery Dennison Corporation, Berry Global Inc., Crown Holdings Inc., Dupont De Nemours Inc., Linde plc, Multisorb Technologies Inc. (Filtration Group Corporation), Point Five Packaging LLC, R.R. Donnelley & Sons Company, Sealed Air Corporation, WestRock Company and Zebra Technologies Corporation.
Key Questions Answered in This Report:
What was the size of the global smart packaging market in 2022?
What is the expected growth rate of the global smart packaging market during 2023-2028?
What has been the impact of COVID-19 on the global smart packaging market?
What are the key factors driving the global smart packaging market?
What is the breakup of the global smart packaging market based on the technology?
What is the breakup of the global smart packaging market based on the industry vertical?
What are the key regions in the global smart packaging market?
Who are the key players/companies in the global smart packaging market?
