Global Smart Packaging Market Size to Reach $33.00 Billion by 2028 | Vantage Market Research

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WASHINGTON, Feb. 27, 2023 (GLOBE NEWSWIRE) — According to a report by Vantage Market Research, the global Smart Packaging Market is expected to grow from $13.88 Billion in 2021 to $33.00 Billion by 2028, at a CAGR of 12% during the forecast period. The food and beverage industry is expected to be the largest segment of the smart packaging market, driven by the need for food safety and quality assurance. Other key application areas of smart packaging include healthcare, personal care, and consumer electronics.

Smart Packaging Market Overview

The smart packaging market refers to the use of advanced technologies in packaging materials and containers to enhance the functionality, sustainability, and security of products. Smart packaging incorporates features such as RFID tags, QR codes, sensors, and other electronics to enable real-time tracking, monitoring, and analysis of products during storage and shipment.

The smart packaging market is driven by the growing demand for sustainable and eco-friendly packaging solutions, the increasing use of smart labels for product tracking and authentication, and the need for innovative packaging designs to improve consumer engagement and brand loyalty. The rise of e-commerce and online retail has also contributed to the growth of the smart packaging market, as companies seek to ensure the safe and timely delivery of their products to customers.

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Smart Packaging Market Dynamics

Technological advancements: The development of new and advanced technologies such as RFID, sensors, and smart labels is driving the growth of the smart packaging market. Innovations in these technologies are allowing for better tracking, monitoring, and analysis of products during storage and shipment, leading to greater efficiency, accuracy, and security in the supply chain.

Growing demand for sustainable packaging: The increasing focus on sustainability and environmental protection is driving the demand for eco-friendly and sustainable packaging solutions. Smart packaging technologies are being developed that reduce waste, minimize carbon emissions, and improve recyclability, contributing to the overall trend towards sustainable packaging.

Rising e-commerce industry: The growth of e-commerce is driving the demand for smart packaging solutions that ensure the safe and timely delivery of products to consumers. Smart packaging technologies such as smart labels and sensors are being used to track and monitor products during shipping and to prevent damage or theft.

Stringent regulations: Government regulations regarding food safety and product authentication are driving the adoption of smart packaging solutions, particularly in the food and pharmaceutical industries. Regulations such as the EU’s Food Contact Materials Regulation and the US Food Safety Modernization Act require food packaging to meet strict safety and quality standards, which is fueling the adoption of smart packaging solutions.

High costs: The high cost of implementing smart packaging solutions is a major barrier to market growth. The cost of integrating sensors and other electronics into packaging materials can be prohibitively expensive for small and medium-sized enterprises, which limits their adoption of smart packaging solutions. However, as the technology continues to develop and becomes more affordable, the adoption of smart packaging is expected to increase.

Top Players in the Smart Packaging Market:

• Bureau Veritas SA (France)
• SGS S.A. (Switzerland)
• Eurofins Scientific SE (Luxembourg)
• Intertek Group Plc. (U.K.)
• Mérieux NutriSciences Corporation (U.S.)
• TÜV SÜD AG (Germany)
• ALS Limited (Australia)
• National Technical Systems Inc. (U.S.)
• Microbac Laboratories Inc. (U.S.)
• EMSL Analytical Inc. (U.S.)
• and Campden BRI (U.K.)

For Additional Information on Smart Packaging Market Players and Detail List, Download a Report PDF Brochure

Smart Packaging Market Future Trends

Increased use of Internet of Things (IoT) and Artificial Intelligence (AI) technologies: IoT and AI technologies are expected to become increasingly integrated into smart packaging solutions, enabling better tracking, monitoring, and analysis of products throughout the supply chain.

Greater focus on sustainability: Sustainability will continue to be a key driver of innovation in the smart packaging market, with a focus on developing eco-friendly materials and reducing waste. Advances in biodegradable and compostable packaging materials are expected to gain momentum in the coming years.

Greater use of Blockchain technology: Blockchain technology is expected to play a larger role in the smart packaging market, enabling greater traceability and transparency in the supply chain. Blockchain can be used to ensure the authenticity and safety of products, which is particularly important in industries such as food and pharmaceuticals.

Personalization of packaging: The trend towards personalization is expected to extend to the packaging industry, with companies offering customized packaging solutions for individual products and consumers. This trend is being driven by the desire to create a more engaging and memorable experience for consumers.

Integration with augmented reality (AR): The integration of smart packaging with AR technology is expected to provide an immersive and interactive experience for consumers, allowing them to interact with products in new and exciting ways. This trend is expected to gain momentum in the retail and consumer goods industries.

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Recent Developments

• May 2022 – Sealed Air launched its digital packaging brand, prismiq, which has a portfolio of design services, digital printing, and smart packaging solutions. It eliminates waste and excess packaging while enhancing products and customer engagement. Sealed Air’s end-to-end cloud-based platform generates package-specific digital IDs that collect and manage data along the value chain.
• February 2022 – Sealed Air Corporation acquired Foxpak Flexibles Ltd. (Foxpak) to expand digital smart packaging solutions for leading global brands. Foxpak is a developer of digital printing on flexible packaging. This private Ireland-based packaging solutions company partners with top brands to deliver highly-decorated packaging solutions for various served markets — including pet food, food retail, seafood, and snacks.

Smart Packaging Market Segmentation

By Technology

• Physical Tests
• Spectroscopy & Photometric-Based
• Chromatography-Based

By End-user Vertical

• Food, Beverage
• Healthcare
• Personal Care
• Other End-user Verticals

By Type

• Physical
• Chemical
• Microbiological

By Material

• Glass
• Plastic
• Paper
• Metals

Browse Market Data Tables and Figures spread through 166 Pages and in-depth TOC on Smart Packaging Market Forecast Report (2022-2028).

Regional Analysis:

• North America: North America is one of the largest markets for smart packaging, with the United States being the largest contributor to the region’s growth. The market is driven by the growth of the e-commerce industry, increased demand for sustainable packaging, and the adoption of stringent regulations regarding food safety and product authentication.
• Europe: Europe is another significant market for smart packaging, driven by the increasing demand for sustainable and eco-friendly packaging solutions. The region is also home to several leading manufacturers of smart packaging solutions, which contributes to its growth.
• Asia Pacific: The Asia Pacific region is expected to see significant growth in the smart packaging market, driven by the rapid growth of e-commerce and rising consumer awareness about product safety and authenticity. Countries such as China and India are expected to be key markets for smart packaging in the region.
• Middle East and Africa: The Middle East and Africa region is expected to see moderate growth in the smart packaging market, driven by the growth of the food and beverage industry and the increasing adoption of smart packaging solutions in the pharmaceutical industry.
• Latin America: Latin America is another emerging market for smart packaging, with increasing demand for sustainable packaging solutions and growing awareness about the benefits of smart packaging technologies. Countries such as Brazil and Mexico are expected to be key markets for smart packaging in the region.

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Key Questions Answered in the Report

• What is the size of the smart packaging market, and how fast is it growing?
• What are the key drivers, restraints, and trends influencing the growth of the smart packaging market?
• What are the different types of smart packaging technologies and materials available in the market, and what are their applications?
• What are the key end-use industries for smart packaging, and what is their market share?
• What are the different distribution channels for smart packaging, and which ones are most preferred by customers?
• Who are the leading players in the smart packaging market, and what is their market share?
• What are the challenges faced by the smart packaging industry, and how can they be overcome?
• What are the regional dynamics of the smart packaging market, and which regions offer the most growth opportunities?
• What are the future trends in the smart packaging market, and how can companies capitalize on them?
• What is the competitive landscape of the smart packaging market, and how can companies differentiate themselves from their competitors?

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