Intelligent packaging has now become the newest technology in the packaging sector. This technology is growing at a very fast rate in the food sector with great potential to improve convenience for consumers.
Smart packaging can give the condition on the outside packaging and directly measure the quality of the product inside the package. Biosensors for toxic identification of pathogens in the food and packaging industry is helping it by attaching antibodies to a plastic surface, which can give a false alarm of security to the customers.
The make saleable of printed electronics for smart packaging and smart labels are rising. Printed electronics is one of the most important elements of the smart packaging era and can become a breakthrough technology for expanding functionality and reducing costs.
The demand for smart packaging is assisted by technological intrusions. The onset of advanced packaging machinery has made companies manufacture new packaging solutions incorporating communications technologies, such as sensors, RFID and others.
Global Smart Packaging Market- Overview
The changes in the living standards of people are because of rapid urbanization and the extended utilization of personal items with advanced integrated innovation drive the smart packaging market growth.
The unknown geographical markets offer open doors for the market players who are relied upon to run the worldwide packaging market industry.
The growth of the market is getting better day by day to the exploration of nanotechnology into various F&B applications, sustainable packaging solutions and demand for shelf-stable among food and beverage manufacturers, and increasing consumption of packaged food products.
The advancement in the printing process has also been an important driving force. Printed Technologies have proven their functionality in the process of processing and presentation of information on paper and other substrates.
The recent scientific research on printed electronics and RFID technology, form an outline for the potential development of smart packaging applications.
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Global Smart Packaging Market- Forecast Period
The smart packaging market is valued at USD 38.16 Billion in 2022 and will reach USD 48.72 Billion by 2026, showing a CAGR of 4.15%. The self-heating food packaging techniques have made it convenient for consumers to have a snack and a hot beverage instantly.
The cost of capital for installation, new techniques for sensors and indicators and security issues that get along with current packaging standards and create awareness among consumers.
The smart packaging market is highly fragmented as players are emerging to enter this industry and many small firms are present with a high intensity of rivalry.
The smaller businesses will soon be rising in the market with a priority to become high-end business companies.
Smart Packaging Market: Key Trends
Technological progression in packaging to increase the growth.
Smart packaging refers to packaging systems embedded with sensor technology. There has been rise in applications with respect to the availability of several forms such as fabric and plastic. Several benefits offered by smart packaging over the traditional packaging with reduced counterfeiting, increased shelf-life, improved safety is driving the market. Smart packaging is the combination of specialized material, science and technology to enhance the packaging functionality by implementing intelligent packaging methods. This helps to prevent food spoilage, enhancing the food attributes such as the aroma, taste and flavor of the food item. This also helps in brand protection.
Intelligent Packaging in Healthcare Industry is expected to propel growth.
Smart packaging in Health care industry plays a vital role. Certain equipment and health care drugs require special packaging and temperature-controlled transportation. This has led to rise in demand for smart packaging. In addition to this, due to rising geriatric population and as a result prevalence of chronic diseases the demand for over-the-counter drugs has increased which has led to rise in smart packaging service.
Global Smart Packaging Market Segmentation:
Major Market Players in the Global Smart Packaging Market:
- Ball Corporation
- BASF SE
- Huhtamaki PPL Ltd
- Amcor Plc
- Sealed Air Corporation
Segmentation based on Technology
- Intelligent Packaging
- Active Packaging
Segmentation based on End-User Vertical
- Personal Care
Segmentation based on Region
NORTH AMERICA, Canada, US, Asia Pacific, China, India, Japan, Europe, Germany, France, UK, The Middle East and Africa, Latin America
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