Smart Packaging Market Insights By 2022, The Smart Packaging Market was valued at USD 39.4 billion with a projected compound annual growth rate (CAGR
Smart Packaging Market Insights
By 2022, The Smart Packaging Market was valued at USD 39.4 billion with a projected compound annual growth rate (CAGR) of 5.4% from 2023 to 2030. The market is expected to reach USD 63.2 billion by 2030 according to current forecasts.
Smart packaging combines traditional packaging with advanced technologies like RFID tags, sensors, and intelligent systems to enhance its performance. By enabling product quality monitoring, real-time information delivery to consumers, and supply chain optimization, smart packaging has the potential to transform the packaging industry. The global smart packaging market is projected to witness substantial growth in the upcoming years, propelled by the rising need for convenience and safety, and the growing acceptance of IoT technology.
The food and beverage industry extensively utilizes smart packaging to monitor product quality parameters such as temperature, humidity, and gas levels. This advanced packaging technique aids in enhancing the safety and freshness of the product, while also mitigating the risks of contamination and spoilage. Additionally, smart packaging is beneficial in offering real-time information to consumers, such as cooking instructions, nutritional details, and expiration dates.
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Smart packaging can also be used in the healthcare industry, where it can be used to monitor the condition of medical devices and drugs. Smart packaging can be used to track the temperature and humidity of the product during transportation and storage, and provide real-time information to healthcare professionals.
Smart packaging can be classified into three categories based on the technology used: active packaging, intelligent packaging, and modified atmosphere packaging. Active packaging is designed to improve the functionality of traditional packaging by incorporating special additives or substances. Intelligent packaging utilizes sensors and other intelligent systems to monitor the quality of the product and provide real-time information to consumers. Modified atmosphere packaging, on the other hand, uses specific gases to control the environment inside the package, thereby extending the product’s shelf life and maintaining its quality.
By Type :
Active Packaging (Antimicrobial, Gas Scavengers, Moisture Control, Corrosion Control, and Others), Intelligent Packaging, Interactive Packaging, Controlled Permeability Packaging, and Others
Indicators, Sensors ( Biosensors and Gas Sensors), and Data Carriers
By Packaging Functionality
Protection and Contaminant
By End User:
Food & Beverage, Pharmaceutical, Personal Care, Automotive, Logistics, and Others.
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
The market can also be segmented based on application, including food and beverage, healthcare, personal care, and others. The food and beverage segment is expected to dominate the market in terms of revenue, as smart packaging offers a wide range of benefits for food safety and freshness. The healthcare segment is also expected to see significant growth in the coming years, as smart packaging offers benefits for the storage and transport of medical devices and drugs.
In conclusion, the global smart packaging market application is expected to see significant growth in the coming years due to the increasing demand for convenience and safety, along with the growing adoption of IoT technology. Smart packaging has a wide range of applications in the food and beverage, healthcare, and personal care industries. The market can be segmented based on technology, application, and region, with the food and beverage segment and intelligent packaging technology expected to dominate the market in terms of revenue.
The study provides answers to the following key questions:
• What type of customers buying the products and services from companies operating in the Smart Packaging Market?
• What will be the roadmap for the product manufacturers operating in the Smart Packaging Market for the forecast period, 2023-2030?
• What are the recent developments in the competitive landscape to look out for during the estimated period?
• What are the major trends influencing customers’ lives and their buying behaviour?
• How can brands best communicate with the customers they intend to target?
• When, where and how the customers want to use or consume the products or services?
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