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Global Smart Packaging Market to Reach US$ 47.12 Billion by 2027, Propelled by Escalating Demand for Smart Labels in Organized Retail

Published on Sep 06, 2022

According to the latest report by IMARC Group, titled “Smart Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global smart packaging market size reached US$ 31.56 Billion in 2021. Smart packaging involves specialized materials with advanced technology that improves packaging functionality by engineering smart elements in traditional packaging. As part of the packaging, biosensors are embedded in the material for the detection of pathogens and toxic elements in food. In addition to facilitating reporting of packaging conditions, precise measurements of inside product quality, and improving the taste, aroma, and flavor of food products, it helps extend the shelf life of the product. Furthermore, it contributes to premium pricing, brand protection, waste reduction, and food preservation.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Smart Packaging Market Trends:

The global market is majorly driven by the escalating demand for smart product labels across the organized retail sector. This can be attributed to a considerable rise in the number of online and offline organized retail channels across the globe. In addition to this, the increasing adoption of nanotechnology applications in a wide range of end-use industrial applications is also propelling the market. Moreover, the growing commercialization of printed electronics, along with the augmenting demand for improved logistics and supply chain management, is also positively impacting the market. The increasing consumption of packaged products with an enhanced focus on sustainable packaging solutions is also providing an impetus to the market. Some of the other factors, such as rapid urbanization and industrialization, the rising trend of product premiumization, inflating disposable income levels, and extensive research and development (R&D) activities, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 47.12 Billion by 2027, exhibiting a CAGR of 6.60% during 2022-2027.

Market Summary:

  • Based on the technology, the market has been segmented into modified atmosphere packaging, active packaging (antimicrobial, gas scavengers, moisture control and corrosion control) and intelligent packaging (indicators and tracking devices).
  • On the basis of the industry vertical, the market has been divided into food and beverages automotive, healthcare, personal care, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Amcor plc, American Thermal Instruments, Avery Dennison Corporation, Berry Global Inc., Crown Holdings Inc., Dupont De Nemours Inc., Linde plc, Multisorb Technologies Inc. (Filtration Group Corporation), Point Five Packaging LLC, R.R. Donnelley & Sons Company, Sealed Air Corporation, WestRock Company, and Zebra Technologies Corporation.

 

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