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, growi...