According to Stratistics MRC, the Global Smart Packaging Market is accounted for $ 12.21 billion in 2017 and is expected to reach $33.64 billion by 2026 growing at a CAGR of 11.9% from 2017 to 2026. Increasing consumer awareness for food wastage reduction, longer shelf life & changing lifestyle of people and growth in the consumption of frozen and chilled food products are some of the key factors boosting the market growth. However, stringent environmental legislations and high development costs are hindering the market growth.
Smart packaging is a superior form of packaging that gives supplementary functionalities such as extensive shelf life, cleanness monitoring and better protection along with the conventional basic three functions of packaging that is protection, communication and containment. Smart packaging is also used widely by different end users in order to add value to their products, strengthen their brand image and to improve the consumer appeal.
By End User, food & beverages segment acquired considerable growth due to increasing demand for packaged food products which provides nutritional enrichment and functional benefits. Asia-Pacific is expected to have a significant growth in the market owing to the rapid urbanization and change in lifestyle of consumers in the developing countries, such as China, India, and Thailand.
Some of the key players in the Smart Packaging Market are BASF SE, E. I. Du Pont De Nemours and Company, Sealed Air Corporation, 3M, Sonoco Products Company, Amcor Limited, Meadwestvaco Corporation, Temptime Corporation, Paksense, Smartrac N.V., UPM-Kymmene Corporation, Huhtamaki Group, International Paper, Thin Film Electronics ASA, American Thermal Instruments (ATI), Multisorb Technologies Inc, Avery Dennison Corp, RR Donnelley and Stora Enso OYJ.
- Modified Atmosphere Packaging (MAP)
- Active Packaging
- Intelligent Packaging (IP)
End Users Covered:
- Food & Beverages
- Personal Care
- Other End Users
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements