Smart Packaging Market Size, Growth and Forecast to 2029

 

Smart Packaging Market is estimated to grow at CAGR of 5.9% during the forecast period 2022-2029.

The factors driving the growth of Smart Packaging Market includes growing concerns related to food wastage, expansion of the e-commerce industry, increasing demand for sustainable packaging solutions around the world and rise in the consumption of packaged food products. According to the report published by Statista, the sales of packaged food products around the world has increased drastically from USD 2.47 trillion in 2016 to USD 2.64 trillion in 2019, which will accelerate the Smart Packaging Market size in the approaching years. Moreover, growing adoption of advanced technologies such as RFID, QR code and NFC, rise in the launch of innovative products and increasing health consciousness amongst people, are some of the additional factors supplementing the Smart Packaging Market Growth. In addition, the increasing investments by leading players on research and development, growing focus by manufacturers on developing environment friendly packaging solutions, rising population growth rates and improvements in the living standards, are further contributing towards the market growth. 

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However, growth of the Smart Packaging Market is hindered attributed to high cost of manufacturing smart packaging solutions.

The leading players operating in the market are Desiccare, Inc., Ochre Media Pvt Ltd., Coveris, Sealed Air, WINPAK LTD., Cision, BASF SE, Praxair, Berry Global Inc., BALL CORPORATION and Desiccare, Inc., among others.

Based on Type, the Active segment is predicted to expand at a significant CAGR during the forecast period

Active Smart Packaging solutions are available in available in forms such as plastic, fabric, and plastic films along with its increasing application in the pharmaceutical industry, are some of the factors pushing the growth of the segment.

Based on End-Use Industry, the Food & Beverage segment is projected to grow at a remarkable CAGR over the forecast period

Increasing use of active smart packaging in food and beverage industry for enhancing the quality of packaged products, is propelling the segment’s growth.

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

Growing concerns related to environmental pollution, rapid growth in the food and beverage and pharmaceutical industries, increasing population growth rates, high per capita incomes, and improved standards of living, are some of the important factors augmenting the market growth in North American region.

Key Development

  • In 2019, Tetra Pak officially introduced a connected packaging platform, which transforms milk and juice cartons into interactive information channels, full-scale data carriers, and digital tools.

Market Segmentation

Segmentation by Type

  • Active
  • Intelligent

Segmentation by End-Use Industry

  • Pharmaceuticals
  • Alcoholic Beverages
  • Cosmetics
  • Food & Beverage
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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