Global Smart Packaging Market Size to witness a CAGR of 25.3% through 2028

By Sachin Pashte  | Date: December 27, 2022

Global Smart Packaging Market Size to witness a CAGR of 25.3% through 2028

Expert analysts opine that global Smart Packaging Market, which was valued at USD 7.1 billion in 2021, is estimated to progress at a CAGR of 25.3% through the forecast period.

Changing lifestyle of individuals, rapid rate of urbanization prompting customers to seek preservation & protection of consumables against dirt, insects, etc. as well as device properties that helps in enhancing the quality such as monitoring freshness, increasing shelf life, and improving customer & product safety are the major growth determinants of global smart packaging market.

For the unversed, the term smart packaging refers to a particular kind of sensor-equipped packaging system used for a variety of goods in the food and pharmaceutical sector.

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However, high costs of packaging may be unaffordable to every individual, which is likely to hamper industry expansion in the coming years.

Besides, the COVID-19 pandemic and the prolonged conflict between Russia & Ukraine hampered corporate growth, as some organizations withdrew their operational activities from Russia due to the war, severely reducing the profitability of this market.

Based on packaging type, the market is divided into intelligent packaging, modified atmosphere packaging, and active packaging. In terms of material, the industry is split into liquid and solid. On the basis of end-user, worldwide smart packaging market is segregated into logistics, automotive, personal care, healthcare, food & beverage, and others.

Regionally, the latest trends are studied across Western Europe (UK, Benelux, France, Spain, Nordic, Germany, Italy, rest of Western Europe), Asia Pacific (Australia, South Korea, China, ASEAN, India, Japan, Rest of APAC), Middle East & Africa (GCC, Turkey, South Africa, Rest of MEA), Latin America (Mexico, Brazil, Rest of Latin America), Eastern Europe (Poland, Russia, rest of Eastern Europe), and North America (U.S. and Canada).

Key p layers like Avery Dennison Corporation, Crown, Stora Enso Oyj, International Paper, Huhtamaki PPL Ltd, BASF SE, Ball Corporation, Amcor Plc, Sealed Air Corporation, and 3M Company are influencing the competitive landscape of global smart packaging industry. These major corporations have embraced new product launch, strategic business expansion techniques in the form of collaborations & acquisitions to provide clients in the market with superior products and services.

Questions and Answers: - Global Smart Packaging Market

Question 1. What are the major factors driving global smart packaging market trends?

Answer 1. Changing lifestyle of individuals, rapid rate of urbanization prompting customers to seek preservation & protection of consumables against dirt, insects, etc. as well as device properties that helps in enhancing the quality such as monitoring freshness, increasing shelf life, and improving customer & product safety are the major growth determinants of global smart packaging market.

Question 2. How is the end-user category in global smart packaging market divided?

Answer 2. On the basis of end-user, worldwide smart packaging market is segregated into logistics, automotive, personal care, healthcare, food & beverage, and others.

Question 3. Which are the key players influencing global smart packaging market dynamics?

Answer 3. The competitive landscape of global smart packaging market is influenced by players like Avery Dennison Corporation, Crown, Stora Enso Oyj, International Paper, Huhtamaki PPL Ltd, BASF SE, Ball Corporation, Amcor Plc, Sealed Air Corporation, and 3M Company.

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About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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