The Global Smart Packaging Market value is expected to grow from USD 37 BN in 2019 to USD 52.2 BN by 2026 at a CAGR of 5% during 2020-2026 as per the market report by Value Market Research. The shifting standard of living of people because of the rapid urbanization and substitution of personal articles with developed innovation drive the global smart packaging market growth. Further, geographical demands providing huge open gates for the market participants are depended upon to propel the packaging market worldwide. The advancements in the printing techniques in numerous enterprises have also been driving the growth of this market.
Smart packaging implies to packaging procedures with embedded detector technology utilized for pharmaceuticals and several other categories of commodities. Smart packaging is a mixture of specialized materials and technology that improves the packaging working by enforcing intelligent packaging in traditional packaging techniques. It works to deter food spoilage along with enhancing food product qualities such as taste, and flavour. It also supports in brand security, and waste reduction.
There has prevailed a boost in the technology of packaging owing to the presence of various forms, such as plastic, plastic films and others. The myriad benefits given by smart packaging over their traditional equivalents are decreased counterfeiting, increased security, and simple implementation. The self-heating packaging procedures are creating it simple for buyers to have a meal and a hot drink anytime. It also encourages conveying and controlling food value using time and temperature pointers.
The report "Global Smart Packaging Market Report By Product (Active Packaging And Intelligent Packaging), Application (Food & Beverage, Healthcare, Personal Care, Automotive, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2019-2026" initially provides the market overview, executive summary followed by detailed revenue analysis bifurcated by segments and regions. The market drivers responsible for pushing the market growth are discussed in length in the report. The smart packaging market opportunities are useful to identify the profit centers and take the strategic decision accordingly.
By product the market is bifurcated into active packaging and intelligent packaging. Active packaging has a growing demand especially in the food industry which has led to its high market share among all the products.
By application the market is bifurcated into food & beverage, healthcare, personal care, automotive, and others. Food and beverage industry occupies the leading position in terms of market share due to the demand from the industry to serve fresh and edible quality.
Regionally, the report is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America holds the highest market share among all the regions owing to high consumption of packaged food, lifestyle and high disposable income. In this section of the report the data related to all the segments are analysed as per regions.
The Report Segments Global Smart Packaging Market -
3M, Amcor Limited, Avery Dennison Corp., BASF, DuPont, Huhtamaki Group, International Paper, Sealed Air Corporation, Smartrac N.V., and Thin Film Electronics ASA.
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