LONDON--(BUSINESS WIRE)--The global smart packaging market size is poised to grow by USD 3.02 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 8% during the forecast period.
Read the 144-page research report with TOC on "Smart Packaging Market Analysis Report by end-user (food and beverage, healthcare, personal care, automotive, and others), and geography (APAC, Europe, North America, South America, and MEA) 2019 - 2023" at https://www.technavio.com/report/smart-packaging-market-industry-analysis
The market is driven by the growing demand for product quality and freshness. In addition, the increase in demand for printed electronics is further expected to boost the growth of the smart packaging market.
The growing demand for product quality and freshness is one of the critical factors contributing to the growth of the smart packaging market. With the increase in urbanization, consumers’ expectation of the packaged products is also evolving. Consumers are showing more interest in products’ quality, freshness, and ingredients, which has encouraged the product manufacturers to increasingly opt for smart packaging solutions. Smart packaging provides enhanced functionalities such as moisture control and active packaging. Thus, the growing demand for product quality and freshness will fuel the demand for smart packaging during the forecast period.
The popularity of printed electronics technology is increasing in the smart packaging industry. Printed electronics are thin, lightweight, and flexible, and can also be integrated easily into traditional packaging, thereby converting it into smart packaging. The integration of printed electronics in packaging offer benefits such as cost efficiency, attractive and flexible printing, ease of production, and superior consumer engagement. Thus, the increase in demand for printed electronics will fuel the growth of the market.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- 3M Co.
- Amcor Plc
- Avery Dennison Corp.
- BASF SE
- Huhtamäki Oyj
Market Segmentation by End-User:
The smart packaging market can be broadly categorized into the following segments:
- Food and beverage
- Personal care
Key Regions for the Smart Packaging Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Related Reports on Materials are:
Packaging Market – Global Packaging Market by type (board packaging, rigid plastic packaging, flexible packaging, metal packaging, and glass packaging), end-users (food, beverage, healthcare, personal care, and others), and geography (APAC, Europe, MEA, North America, and South America).
End-of-line Packaging Market – Global End-of-line Packaging Market by product (labeling equipment, wrapping equipment, and palletizing equipment) and geography (the Americas, APAC, and EMEA).
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