Smart Packaging Market is appreciated to demonstrate a substantial upswing of a CAGR of 8.91% during the forecasted period of 2022 to 2030. The Smart Packaging Market was valued at USD 6.65 billion in 2021 and is estimated to display a significant improvement of USD 14.52 billion by 2030.
People’s changing lifestyles are a primary driving force for the smart packaging market’s growth. Convenience, communication and marketing, confinement, and protection and preservation are the four essential elements of food packaging that people need today. People are more worried about the freshness of food and protection against dust, dirt, smell, water vapours, heat, oxygen, light, insects, and microorganisms as urbanisation grows. Furthermore, what is communicated through the packaging, such as preparation directions, nutritional statistics, and an ingredients list, is noticed. Smart packaging aids in the comprehensive monitoring of informative aspects. Plastic packaging is used for beauty goods and cosmetics because of its lightweight, cost-effectiveness, and versatility. It does, however, harm the ecosystem.
Smart packaging is a developing food packaging solution that combines active and intelligent technologies. Traditional packaging is becoming less capable of meeting the functional demands placed on it as a result of consumer desire for natural products and the increasingly long and diverse supply chains required to feed the world’s growing population. A thorough grasp of consumer sentiments regarding proposed smart packaging technologies is necessary to assist ensure their commercial viability. Understanding the cultural, social, and cognitive elements that influence acceptability can aid in “fine-tuning” smart packaging creation to best meet customer preferences and demands, as well as ensuring that consumer concerns are addressed and advantages are successfully communicated. This review of 28 peer-reviewed academic publications highlights the present state of knowledge.
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Intelligent packaging encompasses smart, linked, and interactive packaging technologies. These solutions are intended to conduct intelligent functions such as tracing, tracking, recording, and detecting, as well as assist in enhancing product quality, giving information, assuring product safety, and extending product shelf life.
Both the producer and the consumer profit from smart packaging technologies. Producers who design and/or manufacture all or part of the solutions, such as packagers, material and technology providers, stand to benefit. Value creation for smart packaging users comes in the form of three applications: improved supply chain efficiency, improved product quality, and improved consumer interaction. The first incidence of COVID-19 was identified in December 2019, and the virus has since spread swiftly over the world. Workplace and leisure limitations, among other public health measures, have had a substantial impact on daily living and the global economy, resulting in a global recession.
Various brands in the food, beverage, healthcare, cosmetics, logistics & transportation, consumer electronics, consumer goods, personal care & home care industries have used intelligent packaging.
Global Smart Packaging Market- Segmental Analysis
Smart Packaging Market: Segmentation Analysis
Market has been segmented into sections namely, Product type, Packaging Technology, Packaging Component, Packaging Function, End-user, and Regional outlook
Smart Packaging Market by Product type:
Among all the mentioned segments Active packaging segment has emerged as dominant segment since 2015 valuating for 72.2% of the revenue share in overall industry. This segment has dominated the market due to its superior moisture control and corrosion protection properties. Growing industrialization coupled with strong demand for supply chain and logistics in regions such as China and India is anticipated to drive the market.
- Active Packaging
o Gas Scavenger
o Corrosion Control Packaging
o Moisture Control Packaging
- Intelligent Packaging
o Time temperature Indicator
o Gas Indicator
o Thermochromic Ink
o RFID & Barcode
o NFC
Smart Packaging Market by Application:
With the advancement of technology in food & beverage sector, held a largest share in revenue of 47.4% in 2015. Rising use of preservative agents in food and beverage to increase their shelf life twinned with quality and safety of the packaged products from manufacturing till the time food is consumed is likely to propel the segment growth.
- Food & Beverage
- Healthcare
- Personal Care
- Automotive
- Others
Smart Packaging Market by End-user: Analysis
By End-user the market is sub-divided into Personal care industry, Food and beverages industry, Pharmaceuticals industry, Automotive industry.
Smart Packaging Market by Packaging Function: Analysis
By Packaging Function segment the market is divided into Protection, Containment, Communication, Convenience.
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Key Benefits For Stakeholders
- The report provides an extensive analysis of the current smart packaging market trends and future estimations.
- Extensive analysis of the smart packaging market share is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive smart packaging market analysis of all the regions is provided to determine the prevailing opportunities.
- The global smart packaging market forecast from 2021 to 2030 is included in the report.
- The key market players within the global market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global smart packaging industry.
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