The latest report by IMARC Group, titled "Smart Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" offers a comprehensive analysis of the industry, which comprises insights on the smart packaging market trends. The market size reached US$ 33.7 Billion in 2022. IMARC Group expects the market to reach US$ 49.8 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% from 2023–2028.
Smart packaging is improved packaging integrated with various technologies, such as biosensors and radio frequency identification (RFID). It comprises active and intelligent packaging used in the packaging of perishable goods, such as food, drinks, pharmaceuticals, and cosmetics. It assists in monitoring freshness, extending shelf life, and displaying essential information about the quality of the product. In addition, it confirms the authenticity of products and reduces the incidence of counter thefts. Apart from this, it helps brands increase sales by maintaining consumer convenience and supply chain transparency across the globe.
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Smart Packaging Market Trends and Drivers:
The rising demand for sustainability, better quality, and transparency from brands around the world represents one of the key factors driving the market. Besides this, the increasing demand for temperature-controlled packaging in pharmaceutical and food and beverage (FB) industries to transport temperature-sensitive products is propelling the growth of the market. In addition, smart packaging offers several benefits, such as reduced counterfeiting, enhanced safety, and cost-effectiveness, which is contributing to the growth of the market. Furthermore, key market players are extensively investing in research and development (RD) activities to introduce innovative features in smart packaging, such as self-cooling and antibacterial packaging, which is expected to bolster the growth of the market.
Report Segmentation:
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
Breakup by Industry Vertical:
- Food and Beverages
- Automotive
- Healthcare
- Personal care
- Others
Breakup by Region:
- North America (U.S. Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East Africa
Competitive Landscape:
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market 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
- SEE
- WestRock Company
- Zebra Technologies Corporation
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