Smart Packaging Market Research Report - Global Forecast 2025

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Smart Packaging Market Research Report By
Forecast To 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Smart Packaging Market Forecast To 2023
Global Smart Packaging Information By Technology
(Active, Intelligent and MAP), By Application
(Food Beverages, Automotive, Healthcare,
Personal Care and others), and Region - Forecast
to 2023
Smart packaging functions as protection,
communication, convenience, and containment, it
also offers a number of additional
functionalities depending on the type of product.
Changing consumer preference for safe food have
led to innovations in the packaging technologies.
Smart packaging includes active packaging,
intelligent packaging, and MAP. The active
packaging technology includes gas scavenger,
corrosion control packaging, and moisture control
packaging, which are primarily used for food
beverages and healthcare sector or the
intelligent packaging solutions such as
time-temperature indicator, gas indicator,
thermochromic ink, RFID, and others. This
technology drives the scope and demand for such
technologies as these are widely used across
various applications such as automotive and
personal care. The global smart packaging market
is currently estimated at USD 46.74 billion and
is expected to grow at a healthy CAGR of 5.16
during the forecasted period 2017-2023. The
concept of 'smart' packaging is gaining momentum
across industries. Its contribution to the
healthcare industry, especially to the
pharmaceutical segment, is unparalleled. The
stringent regulation makes innovation and quality
paramount to the industry. Legislative changes,
new drugs, and advances in technology have
required appropriate changes in the packaging.
Such regulations ensurcompanies increase
sustainability and use environment-friendly
materials, while responding to the multiplying
opportunities presented by the globalization,
making packaging more crucial than ever. Smart
packaging is being used for threat detection,
diagnostics, and for effective drug delivery. It
can also provide patients, pharmacists and
healthcare professionals with valuable
information about expiry dates, composition, and
dosages. The growth of the pharmaceutical
industry on a global level has induced the demand
for such packaging. The rise in the income,
especially in the lower income level along with
the government commitments for providing basic
health facilities are expected to drive the
pharmaceutical market growth and increase the
investment on the packaging. According to IMS
market prognosis, the U.S. is leading the market
in terms of pharmaceutical spending per capita in
2016, followed by Japan and Canada.
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Smart Packaging Market Forecast To 2023
The smart packaging market is witnessing a
remarkable growth. Consumer concern about food
waste and food safety, manufacturers, focuses on
increasing the shelf life of many perishable
products. Recent Trend shows that Government
agencies are setting food safety standards,
conducting inspections, ensuring that standards
are met, and maintaining strong enforcement. The
Food Safety Modernization Act (FSMA), enables the
Food and Drug Administration (FDA) to better
protect public health by strengthening the food
safety system. Whereas, high cost acting as a
restraining factor for the growth of the
market. Global smart packaging market is
segmented into three major segments such as
technology, application and region. by technology
it classified as active, intelligent and MAP, by
application it includes food beverages,
automotive, healthcare, personal care and others
and by geography it is segmented by North
America, Europe, Asia-Pacific, and the Middle
East Africa. Modified atmosphere packaging
(MAP) Modified atmosphere packaging (MAP) helps
in extending the shelf life of fresh food
products. The technology replaces the atmospheric
air inside a package with a protective gas mix.
The gas in the package helps to keep food fresh
for a longer period of time. It has been
developed to ensure that packaged food products
stay fresh and attractive for long. Modified
Atmosphere allows fresh and minimally processed
packaged food products to maintain the visual,
textural and nutritional appeal. The controlled
MAP extend shelf life of the product without any
addition of chemical preservatives or
stabilizers. For fresh and flavorful products,
processors, and marketers rely on modified
atmosphere packaging and focusing on meeting the
consumers expectation for brand quality,
consistency, freshness, and in-stock
availability.
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Smart Packaging Market Forecast To 2023
Market Segmentation
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Smart Packaging Market Forecast To 2023
The global market is segmented on the basis of
geography Asia Pacific, North America, Europe,
and the Middle East Africa. North America is
expected to lead the smart packaging market,
followed by Europe and Asia Pacific. Increased
investment in the RD and product innovation in
the packaging, reduction in food wastage, and
extension of shelf life are some the growth
factors of the smart packaging market. Rising
industrialization in emerging regions including
the Asia Pacific and the Middle East is expected
to drive the industry. Availability of raw
materials coupled with cheaper manufacturing
costs, growing use of RFID tags in the automotive
industry, and growing demand for personal care
products are pushing regional growth forward.
Moreover, increasing demand for good and
luxurious products, concerned about the packaging
and its regulations in regions pushing the
market.
Regional Analysis
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Major Players
Some of the key players in the global smart
packaging market include 3M Company (U.S.),
TempTime Corporation, PakSense Inc., American
Thermal Instruments, Avery Dennison Corporation,
R.R. Donnelly Sons Company, BASF SE,
International Paper, Stora Enso, Huhtamaki Group,
and Smartrac N.V.
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