The research report titled “Smart Packaging Market by Packaging Technology (Modified Atmosphere Packaging, Active Packaging {Ethanol Emitters}, Intelligent Packaging {Indicators}), by Application (Food & Beverages, Pharmaceuticals, Automotive), Geography - Global Forecast To 2027”.provides an in-depth analysis of the smart packaging market in five major geographies and emphasizes the current market trends, market size, market share, recent developments, and forecast till 2027. The global smart packaging market is expected to grow at a CAGR of 5.2% from 2020 to 2027 to reach $43.6 billion by 2027.
The growth of this market is mainly attributed to the growing proportion of older people and changes in the consumer lifestyle, increasing demand for advanced packaging solutions from the food processing and pharmaceutical sector, growing consumer concern for food wastage reduction, and demand for smart and functional packaging. Moreover, the growing e-commerce market and rising industrialization in the emerging economies including India and China coupled with strong demand for superior logistics and supply chain management is likely to drive the industry over the forecast period. However, the high cost and unwillingness of brand owners to pay an additional cost of smart packaging are expected to hinder the growth of this market to some extent.
The study offers a comprehensive analysis of the global smart packaging market with respect to packaging technology, application, and geography. The global smart packaging market is mainly segmented by packaging technology (modified atmosphere packaging (MAP), active packaging, and intelligent packaging), application (food & beverages, pharmaceuticals, automotive, personal care, and others), and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on the packaging technology, the modified atmosphere packaging segment commanded the dominant share of the overall smart packaging market in 2019. The dominant position of this segment is mainly attributed to the increasing demand for fresh and high-quality packaged food products such as bread, fruits and vegetables, processed meat, fish, seafood, and dairy products. Further, on-the-go lifestyle, shift towards easy-to-handle & convenient packaging, and emerging economies propel the demand for modified atmosphere packaging in the market. However, the cost of gas packaging machinery and packaging materials used in modified atmosphere packaging is high. This can hinder the growth of modified atmosphere packaging in the market.
Based on the application, the pharmaceutical segment is expected to grow with the fastest CAGR during the forecast period. The fast growth of this segment is primarily attributed to the growing aging population, increasing the integration of barcodes, RFID, and sensors technology in the pharmaceutical industry to monitor the details about medicines' expiry date, consumption, and dosages, and rising advances in the pharmaceutical industry.
Geographically, Asia-Pacific is expected to grow with the fastest CAGR during the forecast period. The fast growth of this region is primarily attributed to the changing lifestyle of people, increasing demand for packaging solutions with longer sustainability, and growing demand for fresh and quality food. Further, an increase in counterfeit products in developing countries such as India and China have also compelled companies to use technologies like RFID during packaging. However, security and privacy issues in the case of intelligent packaging systems are expected to be major challenges for the market’s growth over the forecast period.
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the smart packaging market over the last four years (2017-2020). The key players operating in the global smart packaging market are 3M (U.S.), Avery Dennison Corporation (U.S.), American Thermal Instruments (U.S.), Temptime Corporation (U.S.), Smartrac N.V. (The Netherlands), BASF SE (Germany), Thin Film Electronics ASA (U.S.), Stora Enso (Finland), International Paper (U.S.), Amcor plc (Switzerland), Emerson Electric Co. (U.S.), R.R. Donnelly & Sons (RRD) Company (U.S.), Sealed Air Corporation (U.S.), and Smartglyph Ltd. (U.K.).
Key questions answered in the report:
- Which are the high growth market segments in terms of the packaging technology, application, and countries/regions?
- What is the historical market for smart packaging across the globe?
- What are the market forecasts and estimates for the period of 2020-2027?
- What are the major drivers, restraints, and opportunities in the global smart packaging market?
- Who are the major players in the global market and what share of the market do they hold?
- Who are the major players in various countries and what share of the market do they hold?
- How is the competitive landscape?
- What recent developments have taken place in the global smart packaging market?
- What are the different strategies adopted by the major players in this market?
- What are the key geographic trends, and which are the high growth countries?
- Who are the local emerging players in the global smart packaging market and how do they compete with the other market players?
Table of Contents
Companies Mentioned
- 3M (U.S.)
- Avery Dennison Corporation (U.S.)
- American Thermal Instruments (U.S.)
- Temptime Corporation (U.S.)
- Smartrac N.V. (Netherlands)
- BASF SE (Germany)
- Thin Film Electronics ASA (U.S.)
- Stora Enso (Finland)
- International Paper (U.S.)
- Amcor plc (Switzerland)
- Emerson Electric Co. (U.S.)
- R.R. Donnelly & Sons (RRD) Company (U.S.)
- Sealed Air Corporation (U.S.)
- Smartglyph Ltd. (U.K.).
