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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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.
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.
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.
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.
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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