The global smart packaging market size was USD 18.42 Bn in 2020 and is likely to reach USD 33.65 Bn by 2028, expanding at a CAGR of 5.42% during 2020-2028. Smart packaging is a system that is capable of carrying out intelligent functions such as detecting, sensing, recording, tracing, and communicating to facilitate decision-making and extend shelf life, enhance safety, improve quality, provide information, and warn about possible problems.
Smart packaging is an extension of the communication function of traditional packaging that contains external or internal indicators to provide information about the history of the package and the quality of the food or any other items. It facilitates premium pricing, supply chain management, brand protection, and waste reduction.
New techniques of disposing smart packaging and regulatory hurdles by the government poses a difficulty for customers. This is expected to hamper the smart packaging market growth.
The report on the global smart packaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Smart Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Technologies (Active Packaging, Intelligent Packaging, and Modified Atmosphere Packaging), Applications (Food & Beverage, Healthcare, Automotive, and Personal Care) |
Regional Scope |
Europe, North America, Asia Pacific, Latin America, and Middle East & Africa |
E Report Coverage |
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
Key Players Covered |
Stora Enso, Avery Dennison Corporation, BASF SE, TempTime Corporation, Thin Film Electronics ASA, Huhtamaki, American Thermal Instruments, 3M, and R.R. Donnelly Sons & Company |
On the basis of technologies, the global smart packaging market can be divided into active packaging, intelligent packaging, and modified atmosphere packaging. The active packaging segment can be sub-segmented into gas scavenger, corrosion control packaging, and moisture control packaging. The intelligent packaging segment can be classified as time temperature indicator, gas indicator, thermochromic ink, radio-frequency identification (RFID) & barcode, and near-field communication (NFC). The active packaging segment is anticipated to account for a key share of the market, in terms of revenue, owing to its moisture control and corrosion protection properties. The intelligent packaging segment is estimated to grow significantly, due to rising use of RFIDs, ability to change immediate product environment, and improvements in human interface.
In terms of applications, the market can be classified as food & beverage, healthcare, automotive, and personal care. Rising use of smart packaging in healthcare segment due to their durable, flexible, and lightweight properties is anticipated to fuel the segment growth. Growing importance given to preserving the quality and protecting the packaged products, from the time they are manufactured to the time they are consumed, is estimated to boost the segment growth.
Based on regions, the global smart packaging market growth can be segregated into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is estimated to grow, due to the rise in consumer awareness regarding issues such as food safety and hygiene. Manufacturers in the region plan to adopt RFID and NFC technologies that allow the firms to track their shipments and combat counterfeiting of products. Rising demand for ready-to-eat food, especially in North America drives the market in the region. Europe is projected to hold a substantial share of the market, due to the implementation of the European Commission laws that favor smart packaging over conventional packaging.
The global smart packaging market can be divided on the basis of technologies, applications, and regions.
Major players of the global smart packaging market are Stora Enso, Avery Dennison Corporation, BASF SE, TempTime Corporation, Thin Film Electronics ASA, Huhtamaki, American Thermal Instruments, 3M, and R.R. Donnelly Sons & Company.
The global smart packaging market can be divided on the basis of technologies, applications, and regions.
Major players of the global smart packaging market are Stora Enso, Avery Dennison Corporation, BASF SE, TempTime Corporation, Thin Film Electronics ASA, Huhtamaki, American Thermal Instruments, 3M, and R.R. Donnelly Sons & Company.
Some other reports from this category!