The global smart packaging market size was $22,257.6 million in 2020, and is expected to reach $38,662.0 million by 2030, with a CAGR of 5.5% from 2021 to 2030. Smart packaging is a type of system that provides smart solutions to the customers and users with the help of sensors and other smart equipment installed in it. It is used for the packaging purpose of different products such as pharmaceuticals and food that require complete monitoring over the freshness and quality. Smart packaging solutions help in providing information over the quality of product, improve customers safety, product safety, display the freshness, and extend the shelf life.
The major driving factor of smart packaging market is the growing concerns over the type of packaging for cosmetics and beauty products that use plastic packaging, which increases the concerns of manufacturers over the use of plastics as it can lead to environmental problems. This leads to adoption more ecofriendly solutions of packaging. In addition, with change in lifestyles of people, they demand four basic aspects in packaging that include protection & preservation, communication & marketing, containment, and convenience. People are more concerned regarding the freshness of food, and are inclined more toward the protection of food against dirt, heat, cold, insects, oxygen, and microbes. In addition, people notice the information of the product such as nutritional facts, preparation instructions, and ingredients list that could be provided through the smart packaging system. Hence, all these aforementioned factors result in the adoption of smart packaging solution.
However, the major factor restraining the smart packaging market is its cost. As it comes with technological advanced features such as installed sensors and Radio frequency identification (RFIDs), the price of smart packaging systems goes high, and not all manufacturers can afford to pay for such packaging. In addition, it could lead to privacy breach, as it collects the data of consumers that could leads to conflictive situations according to manufacturers, thus restraining the smart packaging market.
E-commerce industry is growing over the years as purchasing and shopping are done online. The concerns regarding tracing the product, its location, shipper’s warehouse information, delivery partner information, and manufacturer’s facility information are important aspect to provide product security to customers. In addition, developed, underdeveloped, or developing countries use e-commerce. Hence, these above-mentioned technological advancements in the e-commerce industry create new opportunities for the smart packaging market.
The smart packaging market is segmented on the basis of type, end user, material, and region. Based on type, the market is categorized into active packaging, intelligent packaging, and modified atmospheric packaging. Depending on end user, the market is classified into food & beverage, healthcare, automotive, logistics, personal care, and others. As per material, the market is divided into solid and liquid. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The major players profiled in the smart packaging market include 3M, Avery Dennison Corporation, Ball Corporation, BASF SE, Crown, International Paper, R.R. Donnelley & Sons Company, Stora Enso, Sysco Corporation, and Zebra Technologies Corp. (Temptime Corporation). Major companies in the market have adopted product launch, business expansion, partnership, and acquisition as their key developmental strategies to offer better products and services to customers in the smart packaging market.
The major driving factor of smart packaging market is the growing concerns over the type of packaging for cosmetics and beauty products that use plastic packaging, which increases the concerns of manufacturers over the use of plastics as it can lead to environmental problems. This leads to adoption more ecofriendly solutions of packaging. In addition, with change in lifestyles of people, they demand four basic aspects in packaging that include protection & preservation, communication & marketing, containment, and convenience. People are more concerned regarding the freshness of food, and are inclined more toward the protection of food against dirt, heat, cold, insects, oxygen, and microbes. In addition, people notice the information of the product such as nutritional facts, preparation instructions, and ingredients list that could be provided through the smart packaging system. Hence, all these aforementioned factors result in the adoption of smart packaging solution.
However, the major factor restraining the smart packaging market is its cost. As it comes with technological advanced features such as installed sensors and Radio frequency identification (RFIDs), the price of smart packaging systems goes high, and not all manufacturers can afford to pay for such packaging. In addition, it could lead to privacy breach, as it collects the data of consumers that could leads to conflictive situations according to manufacturers, thus restraining the smart packaging market.
E-commerce industry is growing over the years as purchasing and shopping are done online. The concerns regarding tracing the product, its location, shipper’s warehouse information, delivery partner information, and manufacturer’s facility information are important aspect to provide product security to customers. In addition, developed, underdeveloped, or developing countries use e-commerce. Hence, these above-mentioned technological advancements in the e-commerce industry create new opportunities for the smart packaging market.
The smart packaging market is segmented on the basis of type, end user, material, and region. Based on type, the market is categorized into active packaging, intelligent packaging, and modified atmospheric packaging. Depending on end user, the market is classified into food & beverage, healthcare, automotive, logistics, personal care, and others. As per material, the market is divided into solid and liquid. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The major players profiled in the smart packaging market include 3M, Avery Dennison Corporation, Ball Corporation, BASF SE, Crown, International Paper, R.R. Donnelley & Sons Company, Stora Enso, Sysco Corporation, and Zebra Technologies Corp. (Temptime Corporation). Major companies in the market have adopted product launch, business expansion, partnership, and acquisition as their key developmental strategies to offer better products and services to customers in the smart packaging market.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current trends, future estimations, and dynamics of the smart packaging market
- In-depth smart packaging market analysis is conducted by estimations for the key segments between 2021 and 2030
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework
- A comprehensive analysis of four major regions is provided to determine the prevailing opportunities
- The market forecast analysis from 2021 to 2030 is included in the report
- The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market industry
GLOBAL SMART PACKAGING MARKET SEGMENTS
By Type
- Active Packaging
- Intelligent Packaging
- Modified Atmosphere Packaging
By End User
- Food & beverage
- Personal care
- Automotive
- Healthcare
- Others
By Material
- Solid
- Liquid
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- 3M
- Avery Dennison Corporation
- Ball Corporation
- BASF SE
- Crown
- International Paper
- RR Donnelley & Sons Company
- Stora Enso
- Sysco Corporation
- Zebra Technologies Corp (Temptime Corporation)
Table of Contents
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Smart Packaging Market, by Type
Chapter 5 Smart Packaging Market, by End-user
Chapter 6 Smart Packaging Market, by Geography
Chapter 7 Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Smart packaging Market by Type, End User, and Material: Global Opportunity Analysis and Industry Forecast, 2021–2030,”The global smart packaging market size was valued at $22.2 billion in 2020, and is expected to reach $38.6 billion by 2030, with a CAGR of 5.5% from 2021 to 2030. In 2020, North America dominated the global market, in terms of revenue, accounting for around 41.20% share of the global market.
Smart packaging is a type of system that improves customer safety, product safety, display information of the product quality, helps in monitoring the freshness of products, and extends the shelf life. It is used for packaging of different products like food and pharmaceuticals that require complete monitoring over the freshness of product. It works through the help of sensor installed over the packaging systems.
Changes in lifestyle patterns due to urbanization, particularly in emerging economies and growth in consumption of beauty products with advancement in technology drive the growth of the market. In addition, the untapped geographical regions offer potential opportunities for the market with the growth in hygiene concerns among consumers in these regions. However, high cost of active and intelligent packaging system is expected to hamper the global smart packaging market growth.
Healthcare or pharmaceutical industry and the medical packaging have witnessed quite a notable growth along with advances in technology. The integration of barcodes, Radio Frequency identification(RFID)tags, or sensors is highly useful within the industry as it monitors authenticity of medicines and provides the patients, pharmacists, and other healthcare professionals with details about the expiry date, consumption, and dosages. In addition, smart packaging industry helps the healthcare sector to deal with challenges such as counterfeit and patient compliance, thereby providing complete security. Thus, this sector is projected to exhibit the fastest growth rate during the forecast period and hence increase the smart packaging market. The smart packaging system is also expected to deliver value to technologically savvy consumers, such as tracking environmental conditions, monitoring freshness, and usage indicators.
LAMEA is expected to grow at the highest CAGR owing to the increase in urbanization and change in lifestyle of consumers in the developing countries, such as Brazil and South Africa. This is also responsible for increase in demand for market in the region. However, Middle East is the second fastest growing region due to rise in per capita income of consumers, thereby resulting in high expenditures in automotive, healthcare, personal care, and retail industry
In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering the growth of the market. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.
The market is segmented on the basis of type, end user, material, and region. Based on type, the market is segregated into active packaging, intelligent packaging, and modified atmospheric packaging. Depending on end user, the market is classified into food & beverage, healthcare, automotive, logistics, personal care, and others. According to material the market is divided into solid and liquid.
Region wise, the global smart packaging market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global smart packaging market share, and LAMEA is anticipated to secure a leading position during the forecast period.
The major players profiled in the smart packaging market include 3M, Avery Dennison Corporation, Ball Corporation, BASF SE, Crown, International Paper, R.R. Donnelley & Sons Company, Stora Enso, Sysco Corporation, and Zebra Technologies Corp. (Temptime Corporation).
Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging global smart packaging market trends and dynamics
- Depending on type, the modified atmosphere packaging segment was the largest revenue generator in 2020
- By end user, the food & beverage segment generated the highest revenue in 2020
- Based on material, the solid segment dominated the market in 2020
- Region wise, North America is anticipated to dominate the global market throughout the study period
- The report provides an extensive analysis of the global market emerging opportunities of the market
Companies Mentioned
- 3M
- Avery Dennison Corporation
- Ball Corporation
- BASF SE
- Crown
- International Paper
- R.R. Donnelley & Sons Company
- Stora Enso
- Sysco Corporation
- Zebra Technologies Corp. (Temptime Corporation).
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 240 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 22633.92 million |
| Forecasted Market Value ( USD | $ 38662 million |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
