Global Smart Packaging Market to Exhibit a CAGR of 8.3% Over 2019-2027

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Mar 06, 2020, 13:00 ET

DUBLIN, March 6, 2020 /PRNewswire/ -- The "Global Smart Packaging Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.

The smart packaging market was valued at US$ 6.87 billion in 2018 and expected to grow at a CAGR of 8.3% during the forecast period from 2019 to 2027. Rising needs for environment-friendly sustainable products from various industries.

Increasing consumer's awareness of environmental problems raise the concern to adopt an eco-friendly packaging system. Additionally, companies are required to invest in new, sustainable, and innovative packaging materials. For instance, chitin nanowiskers is a plant-based renewable packaging material widely used in packaging industries across the globe.

Moreover, the government of developed regions such as North America and Europe focused on waste management and resource efficiency, thereby driving the demand for smart packaging systems across the region. For instance, the European government offered various guidelines and norms like Fost Plus - PreventPack, Pack4Ecodesign, Eco-Innovation LT, and Sectorial Ecodesign Guidelines towards to small and medium enterprises (SMEs) for introducing sustainable products and its packaging systems.

Furthermore, demand for personalized materials or designs for precise applications unlocks innovation opportunities particularly for retailers and manufacturers, is likely to expand the market for smart packaging.

Growing R&D activities coupled with rising investments in packaging technology will ramble the smart packaging market.

The development of research and innovations in the field of smart packaging is likely to built-up up a wide range of opportunities for consumers and large retail outlets, thereby boosting up the market on a global scale. Moreover, the wide-scale implementation of innovative technologies like RFID chips will prolong the opportunities for smart packaging.

In addition, intelligent packaging also accomplishes automation, information, protective or marketing functions through LEDs, barcodes, augmented reality, loudspeakers, NFC, and radio chips. For instance, For example, ERP software giant SAP utilized its Touchcode's connected packaging technology to pointer out around 100% fair trade chocolate to the clients.

Industrial Developments

In October 2019, Tetra Pak collaborated with European Commission named Graphene Flagship - a scientific research initiative to explore possible future applications of graphene in food & beverage packaging industries.
In September 2019, DHL released its Rethinking Packaging system, a new trend that offers a widespread aspect along with the upcoming technological trends in the logistics packaging industry.

Key Market Movements

Globally, the smart packaging market is rising at a CAGR of 8.3% for the estimated period from 2019 to 2027.
North America emerged as one of the leading markets accounting for smart packaging, owing to Swift growth in industries like pharmaceutical, food & beverage, logistics, automotive, and manufacturing coupled with sturdy recovery from economic slump projected to drive the demand in the coming years. In addition, countries like the U.S. and Canada are the key consumer of smart packaging, owing to the rising importance of local government towards packaging quality.
Rising health awareness among consumers in the Asia Pacific region particularly in emerging countries like India and China, coupled with increasing disposable income of consumers will boost the pharmaceutical market, thereby driving the demand for smart packaging over the forecast period.
An increasing number of government plans and initiatives, up-gradation in technological development, and increasing technological investments in packaging material in the emerging nations will drive the overall demand.

Key Topics Covered

1. Preface

2. Executive Summary
2.1. Market Snapshot: Global Smart Packaging (SP) Market
2.2. Global SP Market, by Technology Type, 2018 (US$ Bn)
2.3. Global SP Market, by Application, 2018 (US$ Bn)
2.4. Global SP Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global SP Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Smart Packaging Market, by Technology Type, 2017-2027 (US$ Bn)
4.1. Overview
4.2. Active Packaging
4.3. Intelligent Packaging

5. Global Smart Packaging Market, by Application, 2017-2027 (US$ Bn)
5.1. Overview
5.2. Healthcare
5.3. Automotive
5.4. Personal Care
5.5. Food & Beverages

6. North America Smart Packaging Market Analysis, 2017-2027 (US$ Bn)

7. Europe Smart Packaging Market Analysis, 2017-2027 (US$ Bn)

8. Asia Pacific Smart Packaging Market Analysis, 2017-2027 (US$ Bn)

9. Rest of the World Smart Packaging Market Analysis, 2017-2027 (US$ Bn)

10. Company Profiles
10.1. 3M Co.
10.2. BASF India Ltd.
10.3. DuPont
10.4. Avery Dennison Corp.
10.5. Amcor PLC
10.6. Sealed Air Corp.
10.7. International Paper Co.
10.8. Huhtamaki Oyj
10.9. Thin Film Electronics ASA
10.10. Insignia Technologies Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/oym2vv

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