Smart Packaging Market Analysis, Outlook, Strategies, Future Scope, Key Drivers Forecast To 2025

Summary

Smart Packaging Market Analysis, Information by Technology (Active Packaging, Intelligent Packaging, and Modified Atmosphere Packaging), Application (Food & Beverage, Healthcare, Automotive, Personal Care, and Others), Region (North America, Europe, Asia-Pacific, Rest of the World)—Forecast till 2025

Synopsis

As per a detailed analysis by Market Research Future (MRFR), the global smart packaging is presently estimated at USD 46.74 billion. The market is likely to demonstrate a striking CAGR of 5.16% during the forecast period (2017-2025). Smart Packaging Market Analysis has witnessed a tectonic surge in the past few years. Packaging technologies have witnessed innovations due to the changing preferences of the consumers.

Segmental Analysis

The global Smart Packaging Market Analysis, has been segmented on the basis of technology and application.

The technology segment of smart packaging consists of active, MAP, and intelligent. Among these, the modified atmosphere packaging (MAP) assists in extending the shelf life of fresh food items. The technology enables the replacement of the atmospheric air inside a package along with a protective gas mix. The gas further keeps the food intact and fresh for a long time. It also allows fresh processed packaged food items on order to maintain the texture, visual, and nutritional appeal.

Competitive Dashboard

The prominent players operating in this region comprises

TempTime Corporation

3M Company (U.S.)

Avery Dennison Corporation

International Paper

BASF SE

Huhtamaki Group

Stora Enso, and Smartrac N.V.

Regional Insights

Geographically, the Smart Packaging Market Analysis, has been studied under regions namely, Asia Pacific, Europe, North America, and the Middle East & Africa.

Considering the global scenario, the North American region is anticipated to lead the global Smart Packaging Market Analysis, due to the extension of shelf life, surging investment activities in R&D, product innovation, and reduction of food waste the regional market is gaining huge prominence. Canada and the US are considered important country-specific markets in this region.

Europe bags the second position in the global market due to the high population density. Government imposed strict laws owing to environmental concerns which is triggering the demand for smart packaging in this region. Germany, France, Spain, Italy, and the UK are the major country-specific markets in this region.

The Asia Pacific region is witnessing a significant growth due to the surging industrialization, Factors such as easy availability of raw materials, rising demand for personal care products, cheaper manufacturing costs, and rising use of RFID tags in the automotive industry has spurred the growth in this region. Moreover, strict regulations from the government associated to environmental concerns and high demand for premium luxury products are promoting the growth of smart packaging in this region.

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