Smart Packaging is the advanced packaging technique which is designed specifically to increase and monitor shelf-life of different products and also act as an anti-counterfeit measure against theft of those products. Smart packaging comprises of the use of active packaging, intelligent packaging, and modified atmosphere packaging solutions. Factors such as rising demand for ready-to-eat and ready-to-cook meals and snacks, growing awareness regarding good health and fitness, and increasing demand from consumers to know more about the product they are consuming are driving the demand for smart packaging by various end-use industries. Moreover, these packaging solutions provide an improvement in visual appearance, reduce quality deterioration and tracking. Stringent regulations associated with smart packaging are further boosting the market growth.
Smart Packaging Market was valued at US$12.646 billion in 2016 and will reach US$19.787 billion by 2021, at a CAGR of 9.37% over the forecast period. North America and Europe combined account for the bulk of the demand for these packaging solutions owing to the presence of a large number of convenience stores and outlets for ready to eat products. In APAC region, especially in China, Japan, India, and Brazil, rising aging population is augmenting the demand for nutraceuticals and cosmeceuticals which will escalate the growth of smart packaging market. Rising disposable incomes and living standards in emerging economies are leading to the mushrooming demand for fresh and frozen food and packaged consumables with a long shelf-life, thereby contributing to the market growth. Moreover, rising e-commerce industry coupled with growing number of supermarkets in India will also provide an opportunity for the expansion of smart packaging market in the region. Rising aging population in Asian countries, particularly Japan and South Korea, is augmenting the demand for cosmeceuticals along with that of pharmaceuticals, thereby impacting the growth of smart packaging market. However, rising environmental issues regarding the use of polymers coupled with high testing costs of different packaging solutions will restrain the market growth during the forecast period.
Research Methodology
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Market Dynamics
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of smart packaging. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Segmentation
Thirdly, Smart Packaging market has been segmented by technology, industry vertical and geography as follows:
By Technology
Active Packaging
Intelligent Packaging
MAP (Modified Atmosphere Packaging)
By Industry Vertical
Food
Beverages
Pharmaceuticals and Healthcare
Consumer Electronics
Personal and Consumer Care
Others
By Geography
Americas
North America
South America
Europe Middle East and Africa
Europe
Middle East and Africa
Asia Pacific
Market Players
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are BASF, DuPont, Amcor, 3M, and WestRock among others.
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