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Smart Packaging Market Size - by Packaging Technology (Active Smart Packaging, Intelligent Smart Packaging, Controlled permeability Smart Packaging, Modified atmosphere packaging., Interactive Smart Packaging), by Packaging Component (Indicators, 2D matrix codes, RFID technology, Biosensors, Gas sensors, Augmented matrix codes., Bar codes, Quick response codes), by Packaging Function (Communication, Convenience, Protection, Containment), by End-user Vertical (Food & Beverage, Logistics, Personal Care, Healthcare & Pharmaceuticals industry, Automotive industry, Transport , Electronic Goods) & Region - Forecasts 2023 - 2033

  • PUBLISHED ON
  • 2022-03-10
  • NO OF PAGES
  • 280
  • CATEGORY
  • Packaging

Market: Overview

The Smart Packaging Market is expected to demonstrate a substantial upswing with a CAGR of 8.91% during the forecasted period of 2023 to 2033.

The Smart Packaging Market was valued at USD 6,650 million in 2022 and is estimated to display a significant improvement to reach USD 14,520 million by 2033.

With the advancement in technology, the self-heating food packaging techniques are making it easy for consumers to have a snack and a beverage at preferred temperature. It also helps to monitor the quality of food. Due to rapid urbanisation and expanded industrialisation, life of people has changed drastically.

Customers demand for innovative packaging is driving the market growth. In addition, the demand from undiscovered geographical locations is fuelling the market. Moreover, with the innovation of nanotechnology in food and beverage industry, and growing demand to increase the shelf-life of the food product, it is necessary to bring in sustainable packaging solutions. This another factor is fuelling the market growth.

Furthermore, development in printing processes has also given boost to the market. Advanced printing processes in packaging sector for promotion purpose has led to the growth of the market.

Recently, there has been a lot of scientific research on printed technology and RFID technology to create a background for the development of smart packaging. However, with the extensive costs required for capital investment along with advanced techniques required for installing such x that are compatible to current packaging system, the market is expected to witness a slope in growth.

Smart Packaging Market: Key Trends

·         Technological progression in packaging to boost the growth.

Smart packaging refers to packaging systems embedded with sensor technology. There has been rise in applications with respect to the availability of several forms such as fabric and plastic. Several benefits offered by smart packaging over the traditional packaging with reduced counterfeiting, increased shelf-life, improved safety is driving the market.

Smart packaging is the combination of specialised material, science and technology to enhance the packaging functionality by implementing intelligent packaging methods. This helps to prevent food spoilage, enhancing the food attributes such as the aroma, taste and flavour of the food item. This also helps in brand protection.

·         Intelligent Packaging in Healthcare Industry is expected to propel growth.

Smart packaging in Health care industry plays a vital role. Certain equipment and health care drugs require special packaging and temperature-controlled transportation. This has led to rise in demand for smart packaging. In addition to this, due to rising geriatric population and as a result prevalence of chronic diseases the demand for over-the-counter drugs has increased which has led to rise in smart packaging service.

Covid-19 impact on Smart Packaging Market

The recent Covid- 19 pandemic has spread across the world with an alarming speed infecting millions and bringing economic activity near to stand-still due to Covid related confinement bars world-wide. The initial wave of Covid-19 caused an unprecedented contraction in economic activity and a collapse of overall logistics that brought the supply chain to a halt.

As a result, the packaging market experienced a downward slope in demand. Due to slowdown in production in various industries and improper supply chain and logistics the smart packaging industry faced adverse impact of Covid-19. However, with the ease in restrictions the market is expected to show substantial growth.

Smart Packaging Market: Segmentation Analysis

Market has been segmented into sections namely, Product type, Packaging Technology, Packaging Component, Packaging Function, End-user, and Regional outlook

Smart Packaging Market by Product Type:

·         Active Packaging

·         Gas Scavenger

·         Corrosion Control Packaging

·         Moisture Control Packaging

·         Intelligent Packaging

·         Time temperature Indicator

·         Gas Indicator

·         Thermochromic Ink

·         RFID & Barcode

·         NFC

Among all the mentioned segments, active packaging segment has emerged as a dominant segment with 72.2% of the revenue share in overall industry. This segment has dominated the market due to its superior moisture control and corrosion protection properties. Growing industrialization coupled with strong demand for supply chain and logistics in regions such as China and India is anticipated to drive the market.

Smart Packaging Market by Application:

With the advancement of technology in food & beverage sector, held a largest share in revenue of 47.4%. Rising use of preservative agents in food and beverage to increase their shelf life twinned with quality and safety of the packaged products from manufacturing till the time food is consumed is likely to propel the segment growth.

·         Food & Beverage

·         Healthcare

·         Personal Care

·         Automotive

·         Others


Smart Packaging Market by End-User: Analysis

By End-user the market is sub-divided into

·         Personal care industry

·         Food and beverages industry

·         Pharmaceuticals industry

·         Automotive industry


Smart Packaging Market by Packaging Function: Analysis

By Packaging Function segment the market is divided into

·         Protection

·         Containment

·         Communication

·         Convenience.

Smart Packaging Market: Regional Segmentation Analysis

Based on the geographical view, the market occupies regions as

·         North America

·         Europe

·         Asia-Pacific

·         South America

·         Middle-East and Africa

North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North America dominated the market and continue to do the same during the forecasted period. Due to rapid growth in industries such as food and beverage, pharmaceutical, automotive, logistics and so on twined with steady recovery from economic recession is expected to drive the market.

Smart Packaging Market: Competitive Landscape

The key trend of merger and acquisitions in Smart Packaging Market are developing, is the vital strategy adopted by major companies. The Smart Packaging Market is a highly competitive market due to the presence of multiple regional and multinational markets with wide range of products. Some of the prominent players are 3M, BASF, Du Pont, Avery Dennison Corp., Amcor Limited, Sealed Air Corporation, and International Paper. Avery Dennison, is a leading market player in labelling and packaging industry.

Report Scope:

• Smart Packaging Market Forecast Years: 2023-2033

• Smart Packaging Market Historical Years: 2020-2021

• Smart Packaging Market 2022: USD 6.65 billion

• Smart Packaging Market 2033: USD 14.52 billion

• Smart Packaging Market CAGR: 8.91%

• Key Segments: Product type, Packaging Technology, Packaging Component, Packaging Function, End-user, and Regional outlook.

• Key Regions & Countries: North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

1.    Global Smart Packaging Market Introduction and Market Overview

1.1.  Objectives of the Study

1.2.  Smart Packaging Market  Definition & Description

1.3.  Global Smart Packaging Market Scope and Market Estimation

1.3.1.     Global Smart Packaging Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023-2033)

1.3.2.     Global Smart Packaging Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033

1.4.  Market Segmentation

1.4.1.     By Product Type of Global Smart Packaging Market

1.4.2.     By Application of Global Smart Packaging Market

1.4.3.     By End-user of Global Smart Packaging Market

1.4.4.     By Packaging Function segment of Global Smart Packaging Market

1.4.5.     By Region of Global Smart Packaging Market

 

2.    Executive Summary

2.1.  Global Smart Packaging Market Industry Trends under COVID-19 Outbreak

2.1.1.     Global COVID-19 Status Overview

2.1.2.     Influence of COVID-19 Outbreak on Global Smart Packaging Market Industry Development

2.2.  Market Dynamics

2.2.1.     Drivers

2.2.2.     Limitations

2.2.3.     Opportunities

2.2.4.     Impact Analysis of Drivers and Restraints

2.3.  Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.  Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.  Porter’s Five Forces Analysis

2.5.1.     Bargaining Power of Suppliers

2.5.2.     Bargaining Power of Buyers

2.5.3.     Threat of Substitutes

2.5.4.     Threat of New Entrants

2.5.5.     Competitive Rivalry

2.6.  Value Chain / Ecosystem Analysis

2.7.  PEST Analysis

2.8.  Russia-Ukraine War Impacts Analysis

2.9.  Economic Downturn Analysis

2.10. Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

 

3.    Global Smart Packaging Market  Estimates & Historical Trend Analysis (2020 - 2022)

 

4.    Global Smart Packaging Market  Estimates & Forecast Trend Analysis, By Product Type

4.1.  Global Smart Packaging Market Revenue (US$ Mn) Estimates and Forecasts, By Product Type, 2023 to 2033

4.1.1.     Active Packaging

4.1.2.     Gas Scavenger

4.1.3.     Corrosion Control Packaging

4.1.4.     Moisture Control Packaging

4.1.5.     Intelligent Packaging

4.1.6.     Time temperature Indicator

4.1.7.     Gas Indicator

4.1.8.     Thermochromic Ink

4.1.9.     RFID & Barcode

4.1.10.  NFC

 

5.    Global Smart Packaging Market  Estimates & Forecast Trend Analysis, By Application

5.1.  Global Smart Packaging Market Revenue (US$ Mn) Estimates and Forecasts, By Application, 2023 to 2033

5.1.1.     Food & Beverage

5.1.2.     Healthcare

5.1.3.     Personal Care

5.1.4.     Automotive

5.1.5.     Others

 

6.    Global Smart Packaging Market  Estimates & Forecast Trend Analysis, By End-user

6.1.  Global Smart Packaging Market Revenue (US$ Mn) Estimates and Forecasts, By End-user, 2023 to 2033

6.1.1.     Personal care industry

6.1.2.     Food and beverages industry

6.1.3.     Pharmaceuticals industry

6.1.4.     Automotive industry

7.    Global Smart Packaging Market  Estimates & Forecast Trend Analysis, By Packaging Function segment

7.1.  Global Smart Packaging Market Revenue (US$ Mn) Estimates and Forecasts, By Packaging Function segment, 2023 to 2033

7.1.1.     Protection

7.1.2.     Containment

7.1.3.     Communication

7.1.4.     Convenience.

 

8.    Global Smart Packaging Market  Estimates & Forecast Trend Analysis, By Region

8.1.  Global Smart Packaging Market Revenue (US$ Mn) Estimates and Forecasts, By Region, 2023 to 2033

8.1.1. North America

8.1.2. Europe

8.1.3. Asia Pacific

8.1.4. Middle East & Africa

8.1.5. South America

 

9.    North America  Smart Packaging Market: Estimates & Forecast Trend Analysis

9.1.  North America Smart Packaging Market Assessments & Key Findings

9.1.1.     North America Smart Packaging Market Introduction

9.1.2.     North America Smart Packaging Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

9.1.2.1.  By Product Type

9.1.2.2.  By Application

9.1.2.3.  By End-user

9.1.2.4.  By Packaging Function segment

9.1.2.5.  By Country

9.1.2.5.1.   The U.S.

9.1.2.5.2.   Canada

9.1.2.5.3.   Mexico

 

10.  Europe  Smart Packaging Market: Estimates & Forecast Trend Analysis

10.1. Europe Smart Packaging Market Assessments & Key Findings

10.1.1.  Europe Smart Packaging Market Introduction

10.1.2.  Europe Smart Packaging Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

10.1.2.1.  By Product Type

10.1.2.2.  By Application

10.1.2.3.  By End-user

10.1.2.4.  By Packaging Function segment

10.1.2.5.  By Country

10.1.2.5.1.          Germany

10.1.2.5.2.          U.K.

10.1.2.5.3.          France

10.1.2.5.4.          Italy

10.1.2.5.5.          Spain

10.1.2.5.6.          Russia

10.1.2.5.7.          Rest of Europe

 

11.  Asia Pacific  Smart Packaging Market: Estimates & Forecast Trend Analysis

11.1. Asia Pacific Market Assessments & Key Findings

11.1.1.  Asia Pacific Smart Packaging Market Introduction

11.1.2.  Asia Pacific Smart Packaging Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

11.1.2.1.  By Product Type

11.1.2.2.  By Application

11.1.2.3.  By End-user

11.1.2.4.  By Packaging Function segment

11.1.2.5.  By Country

11.1.2.5.1.          China

11.1.2.5.2.          Japan

11.1.2.5.3.          India

11.1.2.5.4.          Australia

11.1.2.5.5.          South Korea

11.1.2.5.6.          ASEAN

11.1.2.5.7.          Rest of Asia Pacific

 

12.  Middle East & Africa  Smart Packaging Market: Estimates & Forecast Trend Analysis

12.1. Middle East & Africa Market Assessments & Key Findings

12.1.1.  Middle East & Africa  Smart Packaging Market Introduction

12.1.2.  Middle East & Africa   Smart Packaging Market Size Estimates and Forecast (US$ Million)  (2023 to 2033)

12.1.2.1.  By Product Type

12.1.2.2.  By Application

12.1.2.3.  By End-user

12.1.2.4.  By Packaging Function segment

12.1.2.5.  By Country

12.1.2.5.1.  U.A.E.

12.1.2.5.2.  Saudi Arabia

12.1.2.5.3.  Egypt

12.1.2.5.4.  South Africa

12.1.2.5.5.  Rest of Middle East & Africa

 

13.  South America  Smart Packaging Market: Estimates & Forecast Trend Analysis

13.1. South America Market Assessments & Key Findings

13.1.1.  South America Smart Packaging Market Introduction

13.1.2.  South America Smart Packaging Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

13.1.2.1.  By Product Type

13.1.2.2.  By Application

13.1.2.3.  By End-user

13.1.2.4.  By Packaging Function segment

13.1.2.5.  By Country

13.1.2.5.1.  Brazil

13.1.2.5.2.  Argentina

13.1.2.5.3.  Colombia

13.1.2.5.4.  Rest of South America

 

14.  Competition Landscape

14.1. Global Smart Packaging Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

14.2. Global Smart Packaging Market Concentration & Company Market Shares (%) Analysis, 2022

 

15.  Company Profiles

15.1.    3M

15.1.1.    Company Overview & Key Stats

15.1.2.    Financial Performance & KPIs

15.1.3.    Product Portfolio

15.1.4.    Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

15.2.    BASF

15.3.    Du Pont

15.4.    Avery Dennison Corp.

15.5.    Amcor Limited

15.6.    Sealed Air Corporation

15.7.    International Paper

15.8.    Others**

 

16.  Research Methodology

16.1. External Transportations / Databases

16.2. Internal Proprietary Database

16.3. Primary Research

16.4. Secondary Research

16.5. Assumptions

16.6. Limitations

16.7. Report FAQs

 

17.  Research Findings & Conclusion

 

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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


Frequently Asked Questions

What is the market size and growth projections?

The Smart Packaging Market is expected to demonstrate a substantial upswing with a CAGR of 8.91% during the forecasted period of 2023 to 2030. The Smart Packaging Market was valued at USD 6,650 million in 2022 and is estimated to display a significant improvement to reach USD 14,520 million by 2033.

What are the trends shaping various markets?

Smart packaging refers to packaging systems embedded with sensor technology. There has been rise in applications with respect to the availability of several forms such as fabric and plastic.

Who are the key competitors of market Players?

Some of the major players operating within the market are 3M, BASF, Du Pont, Avery Dennison Corp., Amcor Limited, Sealed Air Corporation, and International Paper.

What are the top performing segments, and countries / regions of each of the markets?

North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North America dominated the market and continue to do the same during the forecasted period.

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