Global Smart Packaging Market is Predicted to Grow at Approximately 5% by 2022

PUNE, India, Jan. 16, 2017 /PRNewswire/ -- Market Research Future published a half cooked research report on Global Smart Packaging Market. The market for Global Smart Packaging Market is expected to grow over the CAGR of around 5% during the period 2016 to 2022

Market Highlights

The popularity of smart packaging is growing over the past few years. Smart packaging are used for food & beverages, personal care, healthcare and automotive products. Rising health awareness, technological advancement, increased shelf life and rising industrialization fueled the demand of the market. High research and development cost is expected to hamper the growth of the market in coming years.

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Key Players

The key players of the global smart packaging market include- 3M Company, Temp Time Corporation, PakSense, American Thermal Instruments, Avery Dennison, R.R. Donnelly Sons & Company, BASF SE, International Paper, Stora Enso, Huhtamaki Group and Smartrac N.V.

Market Research Analysis

It is expected that the global smart packaging market will advance with higher growth rate as compared to previous years. The market is highly application based. Personal care and automotive sectors are expected to grow fast over the forecasted period. However, food & beverage is the largest sector for smart packaging. On the basis of technology, active packaging accounted for the largest market share. European region is the leading market, majorly due to laws favoring smart packaging.

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Scope of the Report

This study provides an overview of the global smart packaging market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global smart packaging market as technology and application. On the basis of technology it is segmented as active packaging, intelligent packaging and modified atmosphere packaging. On the basis of application it is widely used in food & beverage, health care, personal care and automotive industries.

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