Smart Packaging Market: Global Industry Analysis and Forecast (2023-2029)

Smart Packaging Market size was valued at US$ 39.68 Bn in 2022 and the total revenue is expected to grow at 4.56% through 2023 to 2029, reaching nearly US$ 54.23 Bn.

The global Smart Packaging market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Smart Packaging report also provides trends by market segments, technology, and investment with a competitive landscape.To know about the Research Methodology :- Request Free Sample Report
Smart Packaging Market Overview:
Smart packaging refers to packaging systems that have embedded sensor technology that is used to package foods, medications, and a variety of other items. It's utilized to improve product and consumer safety by extending shelf life, monitoring freshness, displaying quality information, and extending shelf life. Furthermore, smart packaging provides new economic potential based on digitalization, and so falls within the scope of Industry.
Smart Packaging Market Dynamics:
Market growth Driver:

Factors such as demographic and economic shifts, demand for processed foods, the need to extend the shelf life of packaged products, food safety concerns, rising health awareness, and the need for better supply chain management are all driving demand for smart packaging in the food processing and pharmaceutical industries.

As a result, the benefits of smart packaging such as reduced food waste, increased food safety, customer convenience, and improved food supply chain management, and increased sales of packaged foods and beverages are predicted to drive demand for smart packaging.

Furthermore, smart packaging is becoming more popular in the pharmaceutical industry, owing to issues such as prescription mistakes and counterfeit pharmaceuticals. According to a survey conducted on behalf of MeadWestvaco (a packaging company located in the United States), 30% to 50% of prescribed medications are taken wrongly.

The growth of the market is fueled by changes in lifestyle patterns as a result of increased urbanization, particularly in emerging economies, and an increase in beauty product used as a result of technological advancements.
Smart Packaging Market Segment Analysis:
Based on Packaging Technology, the modified atmosphere packaging accounted for the highest part of the entire market in 2022. The growing demand for fresh and high-quality packaged food goods such as bread, fruits and vegetables, processed meat, fish, seafood, and dairy products is largely responsible for this segment's big share.

In addition, the on-the-go lifestyle, the change toward easy-to-handle & convenient packaging, and growing economies all contribute to the market's need for modified atmosphere packaging. The intelligent packaging segment, on the other hand, is expected to grow at the fastest rate during the forecast period.Based on Application, the pharmaceutical segment is predicted to have the greatest CAGR of xx% over the forecast period. The increased integration of barcodes, RFID, and sensor technologies in the pharmaceutical business to monitor information such as medications' expiration dates, consumption, and doses, as well as innovations in the pharmaceutical business, are all contributing to this segment's massive growth. In 2022, however, the food and beverage segment dominated the majority of the market.
Regional Insights:
Globally, North America held the largest share of the global market in 2022. The expanding demand for packaged and frozen goods, greater food safety concerns, and changing lifestyles owing to urbanization are all factors contributing to North America's leadership position in the market.

The United States leads the market in North America, followed by Canada. The growing food safety concerns among consumers as a result of food safety events, as well as the increasing adoption of active and intelligent packaging as a result of urbanization, are the key causes leading to the country's greatest share.

On the other hand, due to significant investments in the healthcare industry, Asia Pacific is likely to see rapid growth in smart packaging in the future years. Other factors boosting demand in the Asia Pacific market include consumers in emerging nations such as China, India, and Thailand are becoming more urbanized and changing their lifestyles.

However, due to rising consumer per capita income, the Middle East is the moderately growing region, resulting in large expenditures in the automobile, healthcare, personal care, and retail industries.

The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global market dynamics, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market make the report investor’s guide.
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Smart Packaging Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 39.68 Bn.


Forecast Period 2023 to 2029 CAGR:
4.56%
Market Size in 2029:
US $ 54.23 Bn.


 Segments Covered:
by Packaging Technology
Active Packaging
Oxygen Scavenger
Moisture Scavengers
Antibacterial Films
Others
Intelligent Packaging
Indicators
Sensors
Bio Sensors
Gas Sensors
Data Carriers
Barcodes
RFID Tags


by Application
Food & Beverages
Pharmaceuticals
Automotive
Personal Care
Others


by Material
Solid
Liquid


by Level of Packaging
Primary Packaging
Secondary Packaging
Tertiary Packaging



Smart Packaging Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players are:
1. 3M
2. Avery Dennison Corporation
3. American Thermal Instruments
4. Temptime Corporation
5. Smartrac N.V.
6. BASF SE
7. Thin Film Electronics
8. Stora Enso
9. International Paper
10.Amcor Plc.
11.Emerson Electric Co.
12.R.R. Donnelly & Sons (RRD) Company
13.Sealed Air Corporation
14.Smartglyph Ltd.
15.Huhtamaki Group
16.Other Key Players

Frequently Asked Questions:

1] What segments are covered in the Smart Packaging Market report?
Ans. The segments covered in the Smart Packaging Market report are based on Packaging Technology, Level of Packaging, Material and Application.

2] Which region is expected to hold the highest share in the Smart Packaging Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Smart Packaging Market.

3] What is the market size of the Smart Packaging Market by 2029?
Ans. The market size of the Smart Packaging Market by 2029 is US$ 54.23 Bn.

4] What is the forecast period for the Smart Packaging Market?
Ans. The forecast period for the Smart Packaging Market is 2023-2029.

5] What was the market size of the Smart Packaging Market in 2022?
Ans. The market size of the Smart Packaging Market in 2022 was US$ 39.68 Bn.