Growth opportunities in the smart packaging market look promising over the next six years. This is mainly due to health benefits like better medication tolerance, due to the visibility of multi-channel communication leading to complete visibility of product location and better patient to connect throughout the whole supply chain.
Smart Packaging Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Retailers and manufactures seeking food products-related information at the time of shipping and storage is one of the crucial factors contributing to the growth of the smart packaging market. The consumers look for special attention to reassure the product’s quality and gather information related to the product. Moreover, the technologies which help intelligent packing includes NFC, QR code, RFID and have certain advantages like authenticity, better customer experience, and traceability which further stimulates the market growth. Also, enormous health benefits are offered by smart packaging like enhanced medication adherence owing to the multi-channel visibility communication resulting in complete visibility of product’s location, improved patient content across the complete supply chain promising product authenticity. For example, Rondo AG, based in Switzerland, launched NFC technology which strengthens communication between customers, pharmacies, and doctors and pharmacies, as a printed and organic electronic module that ensures patient compliance.
The augmenting consciousness related to the health issues adds to the market growth. Moreover, the scepticism in consumers relating to the food freshness boosts the smart packaging market size growth due to the better shelf life and freshness of food. However, robust prices concerned with smart packaging likely to hinder the growth of the global smart packaging market.
End-Use Segment Drivers
Based on the end-use industry, the food and beverage segment is predicted to witness a higher CAGR over the forecast period. Accelerating the use of active products in the food & beverage industry connected with increasing prevalence to sustain the safety and quality of packaged products from the production till the consumption of food is likely to fuel the market growth. For example, Jet Technologies, In April 2020, situated in New South Wales, Australia, has developed a new anti-microbial protective film for various print and packaging applications, including indirect contact food packaging.
Regional Drivers
Based on the regional coverage, North America is anticipated to lead the market over the forecast period. US and Canada are the early adopters of smart packaging in this region due to the increasing government focus to improve the packaging quality to make it environmentally friendly. For instance, the Intellipack Leadership Council, an effort by the Packaging Association of Canada, is propelling the future of the smart packaging market.
Smart Packaging Market’s leading Manufacturers:
- BASF SE
- Sealed Air
- Desiccare, Inc.
- Berry Global Inc.
- WINPAK LTD.
- Ochre Media Pvt Ltd.
- BALL CORPORATION
- Praxair
- Berry Global Inc.
- Coveris
- Cision
Smart Packaging Market Segmentation:
Segmentation by Type:
- Active
- Intelligent
Segmentation by End-Use Industry:
- Pharmaceuticals
- Alcoholic Beverages
- Cosmetics
- Food & Beverage
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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