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Smart Packaging Market Worth $43.6 billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis by Meticulous Research®

Meticulous Market Research Pvt. Ltd.
·7-min read

Smart Packaging Market by Packaging Technology (Modified Atmosphere Packaging, Active Packaging {Ethanol Emitters}, Intelligent Packaging {Indicators}), by Application (Food and Beverages, Pharmaceuticals, Automotive), Geography– Global Forecast To 2027

London, Nov. 25, 2020 (GLOBE NEWSWIRE) -- According to a new market research report Smart Packaging Market by Packaging Technology (Modified Atmosphere Packaging, Active Packaging {Ethanol Emitters}, Intelligent Packaging {Indicators}), by Application (Food and Beverages, Pharmaceuticals, Automotive), Geography– Global Forecast To 2027”, published by Meticulous Research®, the smart packaging market is poised to reach $43.6 billion by 2027, at a CAGR of 5.2% from 2020.

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The growth in this market is backed by a growing proportion of older people and changes in consumer lifestyles, increasing demand for advanced packaging solutions from the food processing and pharmaceutical sector, growing consumer concern for food wastage reduction, and demand for smart and functional packaging. Moreover, the growing e-commerce market and rising industrialization in the emerging economies, including India and China, coupled with strong demand for superior logistics and supply chain management, are likely to drive the industry over the forecast period. However, the high cost and unwillingness of brand owners to pay an additional cost of smart packaging are expected to hinder the growth of this market to some extent.

The overall smart packaging market is mainly segmented by packaging technology (modified atmosphere packaging (MAP), active packaging, and intelligent packaging), application (food & beverages, pharmaceuticals, automotive, personal care, and others), and geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa).

Based on packaging technology, the modified atmosphere packaging segment is estimated to command the dominant share of the overall smart packaging market in 2020. The dominant position of this segment is mainly attributed to the increasing demand for fresh and high-quality packaged food products such as bread, fruits and vegetables, processed meat, fish, seafood, and dairy products. Further, on-the-go lifestyle, shift towards easy-to-handle & convenient packaging, and emerging economies propel the demand for modified atmosphere packaging in the market.

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However, the cost of gas packaging machinery and packaging materials used in modified atmosphere packaging is high. This can hinder the growth of modified atmosphere packaging market. Further, the intelligent packaging segment is expected to grow with the fastest CAGR during the forecast period. The fast growth of this segment is primarily attributed to the increasing demand for packaged food, rising inclination towards food safety from chemicals and contamination by food manufacturers, and increased prevalence of the drugs that have high moisture sensitivity. In addition, growing advances in packaging technology and investments in research and development are some of the major market drivers, fueling the market growth in the forecast period.

Based on application, the food & beverage segment is estimated to hold the largest share of the overall smart packaging market in 2020. The large share of this segment is mainly attributed to the rising use of active products in the food & beverage industry coupled with growing emphasis to preserve the quality and safety of packaged products from manufacturing to the time the food is consumed. Further, consumers demand healthy, safe, and higher‐quality foods, with long shelf‐life, and growing demand for self-heating and cooling packaged products in the beverage industry is expected to fuel demand for such products in North America and Europe over the forecast period. However, the pharmaceutical segment is expected to grow with the fastest CAGR during the forecast period. The fast growth of this segment is primarily attributed to the growing aging population, increasing integration of barcodes, RFID, and sensors technology in the pharmaceutical industry to monitor the details about medicines' expiry date, consumption, dosages, and the rising advances in the pharmaceutical industry.

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Geographically, North America is estimated to command the largest share of the global smart packaging market in 2020. The leading position of North America in the global smart packaging market is primarily attributed to the rise in the adoption of smart packaging solutions due to the rising demand for packaged and frozen foods, increased food safety concerns within the population, and changing lifestyle due to urbanization. Further, changing government regulations regarding safer food and packaging, growing food waste, and rising demand for quality packaging to extend shelf life is driving the market for smart packaging in North America. However, the high cost of smart packaging is projected to hamper the global smart packaging market growth. Moreover, Asia-Pacific is expected to grow with the fastest CAGR during the forecast period. The fast growth of this region is primarily attributed to the changing lifestyles of people, increasing demand for packaging solutions with longer sustainability, and growing demand for fresh and quality food. Further, an increase in counterfeit products in developing countries such as India and China has also compelled companies to use technologies like RFID during packaging. However, security and privacy issues in the case of intelligent packaging systems are expected to challenge the market’s growth over the forecast period.

The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the smart packaging market over the last four years. The key players operating in the global smart packaging market are 3M, Avery Dennison Corporation, American Thermal Instruments, Temptime Corporation, Smartrac N.V., BASF SE, Thin Film Electronics ASA, Stora Enso, International Paper, Amcor plc, Emerson Electric Co., R.R. Donnelly & Sons (RRD) Company, Sealed Air Corporation, and Smartglyph Ltd. among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/smart-packaging-market-5119/

Scope of the Report:

Smart Packaging Market, by Packaging Technology

  • Modified Atmosphere Packaging (MAP)

  • Active Packaging

    • Oxygen Scavengers

    • Moisture Scavengers

    • Self-Venting Films

    • Ethylene Scavengers &Emitters

    • Microwave Susceptors

    • Antibacterial Films

    • Temperature Control Packaging

    • Carbon Dioxide Scavengers/Emitters

    • Ethanol Emitters

    • Flavour/Odour Absorbers

    • Antioxidants

  • Intelligent Packaging

    • Indicators

    • Sensors

      • Bio Sensors

      • Gas Sensors

    • Data Carriers

      • Barcodes

        • 2D Matrix Codes

        • Quick Response Codes

        • Augmented Matrix Codes

      • RFID Tags

Smart Packaging Market, by Application

  • Food & Beverages

  • Pharmaceuticals

  • Automotive

  • Personal Care

  • Others

Smart Packaging Market,by Geography

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific (APAC)

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Vietnam

    • Rest of The Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Peru

    • Rest of Latin America

  • Middle East and Africa

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Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research.php

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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Content Source: https://www.meticulousresearch.com/press-release/smart-packaging-market-2027/477/

CONTACT: Mr. Khushal Bombe Meticulous Research® Direct Lines: +1-646-781-8004 (North America) +44-203-868-8738 (Europe)