With the emergence and long-term Impact of COVID-19, the Global Smart Packaging Market is to reach USD 63.2 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Smart Packaging Market is poised to raise up to USD 63.2 Billion by 2030. Smart Packaging promotes transparency for the quick tracking and tracing of a product’s actual position in the supply chain using unique barcodes, QR codes, or RFID technologies. The Smart Packaging market is expanding growing due to research into numerous F&B applications for nanotechnology, retailer and manufacturer need for shelf-stable and sustainable packaging choices, and increased packaged food product consumption. Some of the major key players include Crown Holdings, Inc., Constar International Inc., are more focused on capitalizing on R&D for the better and improved product packaging output according to the product shelf-life requirements.
Therefore, as technology improves and demand for connected experiences continues to grow, this market is likely to accelerate in the forthcoming decade. Additionally, Online shopping is becoming more popular, and user-friendly packing solutions with tracking of data regarding shipment and delivery of the goods assist clients, providing profitable chances for the industry. E-commerce opens up new opportunities for the packaging industry also, Innovating packaging for the healthcare industry generates demand for smart packaging. However, high costs in mass applications can constraints the market from growing throughout the forecast period.
Geographically, the global Smart Packaging Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 as growing demand for packaged food goods necessitates innovative packaging methods to maintain product safety, quality, and freshness. Furthermore, the growing popularity of e-commerce and home delivery services has increased demand for active and intelligent packaging solutions that may enable real-time tracking and communication for product delivery. Asia Pacific is expected to grow significantly during the forecast period, owing to show lucrative growth due to high demands for packaged food and associated packaged products that require increased concerns and care in the logistics cycle.
The global Smart Packaging Market is highly competitive owing to the presence of several key manufacturers such as 3M, Avery Dennison Corporation, American Thermal Instruments, Temptime Corporation, Smartrac N.V., BASF SE, Thin Film Electronics ASA, and others.
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Global Smart Packaging Market Size study & Forecast, by Type (Active Packaging, Intelligent Packaging, Modified Atmosphere Packaging), by Application (Food & beverage, Personal care, Automotive, Healthcare, Others), by Material (Solid, Liquid) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Smart Packaging Market is anticipated to grow with a healthy growth rate of more than 5.39% over the forecast period 2023-2030.
- In the type segment, active packaging emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to growing popularity of e-commerce and home delivery services.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
- Intelligent Packaging
- Modified Atmosphere Packaging
- Food & beverage
- Personal care
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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