Smart Packaging Market Scope
The smart packaging industry is potentially contributing to the growth of various sectors of the economy. This industry across the globe is evolving rapidly owing to changing consumer preference for packaging solutions. Additionally, the industry is likely to witness high growth in the near future due to rapid urbanization, increasing disposable income, and rising awareness about recent technologies in the packaging industry. Companies in the market are focusing on the development of advanced material for moisture and corrosion resistive packaging primarily for personal care, food & beverages, and healthcare products. Moreover, the commercialization of printed electronics for smart labels and intelligent packaging is growing which is acting as a positive trend in the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | 3M (United States), TempTime Corporation (United States), PakSense (United States), American Thermal Instruments (United States), Avery Dennison (United States), R.R. Donnelly Sons & Company (United States), BASF SE (Germany), International Paper (United States), Stora Enso (Finland), Thin Film Electronics ASA (Norway), Huhtamaki Group (Finland) and Smartrac N.V. (Netherland) |
CAGR | % |
The global smart packaging market is fragmented owing to the presence of several small and large dealers who compete in terms of price, quality, reputation, innovation, and distribution. To sustain themselves in such a competitive market environment, it is important for the market players to discriminate their product offerings through a unique and clear value proposition. Also, vendors need to focus on the expansion of their distribution channels to increase their product availability and market penetration. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Smart Packaging market throughout the predicted period.
3M (United States), TempTime Corporation (United States), PakSense (United States), American Thermal Instruments (United States), Avery Dennison (United States), R.R. Donnelly Sons & Company (United States), BASF SE (Germany), International Paper (United States), Stora Enso (Finland), Thin Film Electronics ASA (Norway), Huhtamaki Group (Finland) and Smartrac N.V. (Netherland) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Smart Packaging market by Type , by Application (Tracking and Tracing, Condition Monitoring, Authentication and Anti-Counterfeiting and Others) and Region with country level break-up.
On the basis of geography, the market of Smart Packaging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
“The European Food Safety Authority (EFSA) defines intelligent packaging materials as materials and articles that monitor the condition of packaged food or the environment surrounding the food. They have the ability to communicate the conditions of the packaged product, but they do not interact with the product. Their aim is to monitor the product and transmit the information to the consumers. This can be information about the condition of a package and its contents, time of manufacture or storage conditions. Depending on whether it is a simple or a reactive intelligent packaging, these can be placed on the primary (outside or inside), secondary or tertiary packaging.”
Influencing Trend:
Technological Advancements in the Printing Technology and Growing Demand for Smart and Functional Packaging
Market Growth Drivers:
Changing Lifestyle Standard in Emerging Economies Due to Rapid Urbanization and Rising Demand of Sustainable Printed Electronics Technology for Smart Labels
Challenges:
High R&D Cost for Smart Packaging
Restraints:
Fluctuating Raw Material Prices and High Cost of Smart Packaging
Opportunities:
Emergence of Bio-Engineered Films and Printed Electronics and Increasing Demand for Packaged Food & Beverage Products
Key Target Audience
Smart Packaging Providers, Government Agencies, Commercial Research & Development Institutions, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others