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on March 21, 2024
The latest report by IMARC Group, titled “Smart Packaging Market Report by Technology (Modified Atmosphere Packaging, Active Packaging, Intelligent Packaging), Industry Vertical (Food and Beverages, Automotive, Healthcare, Personal care, and Others), and Region 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the global smart packaging market growth. The global market size reached US$ 35.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 60.9 Billion by 2032, exhibiting a growth rate (CAGR) of 6.05% during 2024-2032.
Factors Affecting the Growth of the Smart Packaging Industry:
- Sustainability and Regulatory Compliance:
The increasing global focus on sustainability and stringent regulatory standards regarding packaging waste and product safety are pivotal factors shaping the smart packaging industry. Companies are innovating with biodegradable materials, recyclable components, and designs that minimize environmental impact. Smart packaging can contribute to sustainability goals by optimizing resource use, reducing spoilage, and improving supply chain efficiency. Additionally, compliance with international standards and regulations ensures market acceptance and drives industry growth by compelling companies to adopt smart packaging solutions that align with global environmental and safety mandates, thereby fostering innovation in eco-friendly packaging solutions.
- Consumer Demand for Enhanced Product Experience:
There is a growing consumer expectation for packaging to provide more than just protection or branding. The consumers of today seek an interactive, informative, and personalized experience when engaging with products. Smart packaging caters to this demand by incorporating elements like QR codes, AR interfaces, and connectivity features that enable consumers to access detailed product information, authenticity verification, and engagement opportunities. This shift toward a more informed and interactive consumer experience is propelling the demand for smart packaging solutions, as they enhance consumer satisfaction and loyalty while providing brands with unique differentiation points.
- Technological Advancements:
The smart packaging industry is significantly influenced by rapid technological advancements, particularly in IoT, AI, and sensor technologies. These innovations enable the development of packaging that can communicate with consumers and supply chain stakeholders, offering features like freshness tracking, temperature monitoring, and tamper evidence. Enhanced connectivity and data analytics capabilities allow for real-time insights, improving inventory management, and reducing waste. As technology evolves, smart packaging becomes more sophisticated, offering greater interactivity and functionality, which drives consumer interest and industry growth by adding value beyond conventional packaging functions.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/smart-packaging-market/requestsample
Competitive Landscape with Key Player:
- 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
- SEE
- WestRock Company
- Zebra Technologies Corporation
The report has segmented the market into the following categories:
Breakup by Technology:
- Modified Atmosphere Packaging
- Active Packaging
- Antimicrobial
- Gas Scavengers
- Moisture Control
- Corrosion Control
- Intelligent Packaging
- Indicators
- Tracking Devices
Modified atmosphere packaging (MAP) dominates the market as it effectively extends the shelf life of perishable products by altering the atmosphere within the package, thus reducing spoilage and maintaining product quality and freshness.
Breakup by Industry Vertical:
- Food and Beverages
- Automotive
- Healthcare
- Personal care
- Others
Food and beverages industry accounts for the largest market share due to the critical need for extending product shelf life, ensuring food safety, and maintaining quality and freshness, which are all significantly enhanced by smart packaging technologies.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America's dominance in the smart packaging market is attributed to advanced technological infrastructure, high consumer awareness, stringent food safety regulations, and the presence of major players in the smart packaging industry, leading to early adoption and innovation in the region.
Global Smart Packaging Market Trends:
The global smart packaging market is experiencing rapid growth, driven by the increasing demand for innovative packaging solutions that extend shelf life, enhance safety, and improve the consumer experience. Trends include the integration of advanced technologies like IoT connectivity, RFID tags, and sensors that enable real-time tracking, temperature monitoring, and freshness indication, revolutionizing the way consumers and suppliers interact with products. There is a rising emphasis on sustainability, with developments in eco-friendly materials and designs that align with environmental concerns. Moreover, smart packaging is gaining traction in pharmaceuticals, food, and beverage sectors for its ability to provide detailed product information, ensure authenticity, and promote consumer engagement.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US
IMARC Group
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Email: sales@imarcgroup.com
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