A recent report published by Infinium Global Research on smart packaging market provides in-depth analysis of segments and sub-segments in the global as well as regional smart packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global smart packaging market. According to the report, the global smart packaging market is projected to grow at a CAGR of 4.3% over the forecast period of 2019-2025.
Smart packaging is new emerging packaging technique. Smart packaging comprised of two types such as active packaging and intelligent packaging. These packaging technologies are used to deliver quality and safer products. Active packaging changes the interaction between a package, product, and headspace of the package by changes in some chemical, physical, or biological action. Active packaging is an extension of the protection function of a package that is mainly used to protect against moisture and oxygen. Intelligent packaging has advanced functions and ability to detect, sense, and it records external or internal changes in the product's environment. These both packaging concepts are based on the interaction between packaging environment and food that helps to provide active protection to the food and extends shelf life.
Growing demand for sustainable packaging solutions drives the growth of smart packaging market. Advance features of smart packaging such as the ability to inform quality deterioration in terms of gas concentration change, temperature fluctuation, and microorganism growth inside the package environment contribute to the growth of smart packaging market. Rising demand for packaged food boosts the growth of smart packaging market. Furthermore, consumer changing lifestyle and preference towards the adoption of advanced technologies fuel the growth of smart packaging market. Rising adoption of smart packaging by the retailers of food and beverage industry propels the growth of smart packaging market. Developments in nanotechnology in various applications of the food and beverage industry, as well as innovations and advancement in printing technologies, contribute to the growth of smart packaging market. However, less awareness among consumers may hamper the growth of smart packaging market. Moreover, increasing consumer’s awareness of food safety provides beneficial opportunities for the smart packaging market.
Among the geographies, North America dominates the smart packaging market. Rising incomes, changes in urban lifestyle and modern retail trade drives the growth of smart packaging market. The presence of the world’s top retailer’s and increasing investment for shelf life for foods contribute to the growth of smart packaging market in the region. The U.S accounted for a larger share of the smart packaging market. There is specific legislation in Europe for this type of packaging that is an interaction between the packaging material and the product should be normally avoided or minimized. Growth of smart packaging in the Asia Pacific is expected to increase as increasing consumer awareness regarding food safety in the region.
The report on global smart packaging market covers segments such as technology, and end users. On the basis of technology, the sub-markets include active packaging and intelligent packaging. On the basis of end users, the sub-markets include healthcare, food, beverage, personal care, and other end users.
The report provides profiles of the companies in the market such as Berry Global, Inc, Coveris Holdings S.A., Ball Corporation, Point Five Packaging, LLC, BASF SE, Amcor Limited, Huhtamaki Group, Winpak Limited, Praxair, Inc., and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of smart packaging market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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