Smart Packaging is used extensively in various industries. Packaging integrated with different technologies like biosensors and Radio frequency identification technology is referred to as smart packaging. This type of packaging helps in increasing the shelf life of food and also reduces the damage that is caused to food. So, this helps in tracking the quality and safety of food by the customers.
North American region contributes the major share for the Smart Packaging market among the other countries. This is because of the highly present food and beverages industries and the pharmaceutical industries in the U.S., Canada and Mexico regions. The Smart Packaging Market is expected to reach $39.52 billion by 2023 at an estimated CAGR of 6.70%.
Smart Packaging Market Outlook:
Smart Packaging are undeniably important packaging materials for improving the quality of food. The Smart Packaging Market is divided into five different types like Active Smart Packaging, Interactive Packaging, Intelligent Packaging, Controlled Permeability packaging, Modified Atmosphere Packaging. Active food packaging is employed or used to protect the food from oxidation. These systems have oxygen scavengers which helps in eliminating the oxygen content and also protects the food from UV light. Iron powder or ascorbic acid is used as oxygen absorbers and are coated on the sachets. Intelligent smart packaging tells whether the food that is packed is blighted to the customers. The shelf life of the packaged food can also be estimated by employing indicator based intelligent smart packaging systems. Gas indicator based food packaging determines the oxygen or the carbon dioxide present inside the food. Biosensors is used to detect the pathogens and if there is a contact of pathogens with the antibodies then this system will display an alert to the customer. These are also used in pharmaceuticals to allow the safe dispensing of the medicine.
Smart Packaging Market Growth drivers:
One of the key growth drivers for the Smart Packaging is the increased consumer concerns over food safety, sustainability of food. Change in consumer’s lifestyle is also been growth drivers for the increase in consumption of Smart Packaging. Government regulations in various regions on wastage of food is also a driver for the Smart Packaging Market. The developments in printing processes in various industries has also been a driver for this market. The rising industrialization in various regions, safety and brand protection of a particular product are also some other drivers that are driving the Smart Packaging Market.
Smart Packaging Market Challenges:
The Smart packaging does not generate any waste and is also unsustainable for recycling which is a major challenge in the Smart Packaging Market. The research that is being done on finding more sustainable materials which can allow the implementation of sensor functionalities in a bio-degradable way is much less.
The research and development that is being done in the other types of Smart Packaging is very less which is also a challenge in the Smart Packaging Market. The process of integrating the thin film electronics into the packaging technologies is a very challenging task for the researchers.
The cost of the products that employ the smart packaging is very high where the customers are not willing to pay so much for these technologically advanced packing systems.
Smart Packaging Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Smart Packaging Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
Smart Packaging (SAP) Market Report: Industry Coverage
Smart Packaging Market– By Type: Active smart packaging, Interactive smart packaging, Intelligent smart packaging, Controlled permeability smart packaging, Modified atmosphere packaging.
Smart Packaging Market– By Packaging technology: Indicators, Biosensors, Gas sensors, Bar codes, RFID technology, 2D matrix codes, Quick response codes, Augmented matrix codes.
Smart Packaging Market – By Packaging functionality: Protection, Containment, Communication, Convenience.
Smart Packaging Market– By End user industries: Personal care industry, Food and beverages industry, Pharmaceuticals industry, Automotive industry.
The Smart Packaging Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa RicaEurope: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, DenmarkAPAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong KongMiddle East and Africa: Israel, South Africa, Saudi Arabia
Smart Packaging Market Key Players Perspective:
Some of the Key players in this market that have been studied for this report include: Amcor Limited, Bemis Company, ULMA Packaging, DuPont, Thin Film Electronics, Multisorb technologies and many more.
Market Research and Market Trends of Smart Packaging Market
An increasing trend in the Smart Packaging market is the growing demand for bio-based plastic film packaging. PreScouter, a research and laboratory headquartered at Chicago, have discovered products that are recyclable, reduced microbial activity and enhanced technologies in Smart Packaging Market.
MaXQ, a smart packaging solution by Amcor Limited has created a digital solution that can convert any type of serial code present on the packaging. This code can be read through smart phones easily and offers brand protection and real-time interaction with the customers.
Amcor Limited, headquartered at Melbourne, Australia, a key player in the packaging industry that produces flexible packaging, cartons and services to various industries like Food and Beverages, Pharmaceutical, Home and personal-care and many more has announced the acquisition of Bemis Company Inc. which is headquartered at Wisconsin, US, a company that manufactures flexible packaging. This acquisition helps in manufacturing many recyclable products.
PragmatIC FlexICs, a product by PragmatIC, a smart packaging solutions provider has developed smart packaging products with the NFC tags. NFC enabled smartphones are available where the customers have access to check the authencity of a product.
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