According to IMARC Group’s latest report, titled “Smart Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global smart packagingmarket size reached US$ 31.56 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 47.12 Billion by 2027, exhibiting a growth rate (CAGR) of 6.60% during 2022-2027.
Smart packaging is improved packaging integrated with various technologies, such as biosensors and radio frequency identification (RFID). It comprises active and intelligent packaging used in the packaging of perishable goods, such as food, drinks, pharmaceuticals, and cosmetics. It assists in monitoring freshness, extending shelf life, and displaying essential information about the quality of the product. In addition, it confirms the authenticity of products and reduces the incidence of counter thefts. Apart from this, it helps brands increase sales by maintaining consumer convenience and supply chain transparency across the globe.
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The rising demand for sustainability, better quality, and transparency from brands around the world represents one of the key factors driving the market. Besides this, the increasing demand for temperature-controlled packaging in pharmaceutical and food and beverage (F&B) industries to transport temperature-sensitive products is propelling the growth of the market. In addition, smart packaging offers several benefits, such as reduced counterfeiting, enhanced safety, and cost-effectiveness, which is contributing to the growth of the market. Furthermore, key market players are extensively investing in research and development (R&D) activities to introduce innovative features in smart packaging, such as self-cooling and antibacterial packaging, which is expected to bolster the growth of the market.
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The report has segmented the market on the basis of type, component, payload, point of sale, end-use industry and geography.
Breakup by Technology:
- Modified Atmosphere Packaging
- Active Packaging
- Gas Scavengers
- Moisture Control
- Corrosion Control
- Intelligent Packaging
- Tracking Devices
Breakup by Industry Vertical:
- Food and Beverages
- Personal care
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amcor plc, American Thermal Instruments, Avery Dennison Corporation, Berry Global Inc., Crown Holdings Inc., Dupont De Nemours Inc., Linde plc, Multisorb Technologies Inc. (Filtration Group Corporation), Point Five Packaging LLC, R.R. Donnelley & Sons Company, Sealed Air Corporation, WestRock Company and Zebra Technologies Corporation.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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