The global Smart Packaging Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Smart Packaging Market is anticipated to reach USD 26.7 billion by 2024. Smart Packaging is also known as “Intelligent Packaging” or “Active Packaging”. Smart packaging is used for personal care, food & beverages, automotive and healthcare products. They provide extended shelf life, monitor freshness, ensure safety and improve suitability.
Key Players:
- 3M
- BASF
- DuPont
- Avery Dennison Corp.
- Amcor Limited
- Sealed Air Corporation
- International Paper
- Thin Film Electronics ASA
- Huhtamaki Group
- Smartrac N.V.
- Constar International Inc
- Crown Holdings Inc.
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Growth Drivers:
The factors that propel the growth of the market include changes in lifestyle patterns owing to surge in consumption of cosmetics and beauty products, rapid urbanization, and technological development in the packaging. On the other hand, there are factors that may hamper the growth of the market including intelligent packaging and high cost. Smart Packaging industry is anticipated to grow at a significant CAGR of 10.6% of in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Product Outlook:
- Active Packaging
- Gas Scavenger
- Corrosion Control Packaging
- Moisture Control Packaging
- Intelligent Packaging
- Time temperature Indicator
- Gas Indicator
- Thermochromic Ink
- RFID & Barcode
- NFC
The “Active packaging” segment led the smart packaging industry in 2015 and is anticipated to maintain its dominance by 2024 owing to high use in pharmaceutical, food and beverage, and personal care sector due to its corrosion protection and superior moisture control properties.
Application Outlook:
- Food & Beverage
- Healthcare
- Personal Care
- Automotive
The “Food & Beverage” segment led the Smart Packaging Market in 2015 and is anticipated to maintain its dominance by 2024 owing to increasing use of active products in the food & beverage industry coupled with rising importance to preserve the safety and quality of packaged products from manufacturing to the time the food is consumed is expected to drive the development of market.
Regional Outlook:
North America accounted for the major share of the Smart Packaging Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth includes fast development in the industries such as pharmaceutical, food & beverage, logistics, automotive, and manufacturing coupled with stable recovery from economic recession is anticipated to propel the demand over the forecast period. Increasing expenditure ability of consumers coupled with rising concerns on improving the general health in the region is anticipated to propel the industry.
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