Smart Packaging Market 2018 Global Industry Size, Share, Current and Future Trends, Growth Factors, Regional Overview By Technology and Applications - Forecast to 2023
July 12, 2018 --
Smart Packaging Market Highlights
The popularity of smart packaging is growing over the past few years. Smart packaging are used for food & beverages, personal care, healthcare and automotive products. Rising health awareness, technological advancement, increased shelf life and rising industrialization fueled the demand of the market. High research and development cost is expected to hamper the growth of the market in coming years.
The Smart packaging market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of such packaging is influenced by increased demand from food & beverage industry, growing demand from pharmaceutical industry, and increased government policies regarding food safety. However, high added cost of products, lack of willingness from consumers and retailers, and lack of marketing are expected to hinder the growth.
The key players of the global smart packaging market include-
- 3M Company
- Temp Time Corporation
- American Thermal Instruments
- Avery Dennison
- R.R. Donnelly Sons & Company
- BASF SE
- International Paper
- Stora Enso
- Huhtamaki Group
- Smartrac N.V.
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Global Smart Packaging Market - Competitive Analysis
Smart packaging industry has seen significant growth in last few years due to its application across industries, and supportive government policies on food safety. The companies such as Paksense Inc., American Thermal Instruments, Stora Enso, Huhtamaki and Smartrac N.V. have adopted the strategy of product development and partnership across the supply.
Such key strategies adopted by the major players in the global smart packaging market has been adopted to cater to the technological requirements of the smart packaging market for both active and intelligent packaging segment. The market is highly technology driven across all applications and thus demands regular product innovation and increased investment in R&D. Furthermore the partnerships with other players across the supply chain ensures the expanding client base as well as the market share for the companies.
Paksense Inc. was seen investing strategically in partnering with prominent members across the supply chain. For instance, it entered into a commercial distribution agreement with Thin Film Electronics (U.S.) in 2014 and printed sensors for the food industry in 2015.
Stora Enso sees new partnerships and collaboration with star ups and universities as a key strategy. They sees partnering with start-ups will help them to transform efficiently and also makes them better adapt to digitalization trend in the business. Stora Enso are also collaborating with Aalto University, Chalmers University of Technology and the Royal Institute of Technology in long-term joint research and innovation development.
Huhtamaki group predominantly focus on developing new products and expanding their existing operations to meet the market needs. The growth investment of the company stood at USD 337.31 million in FY2016. They have also carried out several expansion projects in their existing facilities such as in Poland, UK, Germany, Australia and China. They have also decided to direct majority of their investment in expansion of the business in the FY 2017.
Scope of the Report
This study provides an overview of the global smart packaging market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global smart packaging market as technology and application. On the basis of technology it is segmented as active packaging, intelligent packaging and modified atmosphere packaging. On the basis of application it is widely used in food & beverage, health care, personal care and automotive industries.
Segmentation By Technology : Comprises – Active Packaging, Intelligent Packaging, and MAP
Segmentation By Application : Comprises – Food & Beverages, Automotive, Healthcare, Personal Care and others
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World
Global smart packaging market is projected to grow at a faster pace due to the increasing requirements of active and intelligent packaging from industries such as food & beverage and healthcare. The solutions in these sector across the supply chain is driving the market globally for such packaging.
North America accounts for the largest share in the global smart packaging market. The region has witnessed increased investment in the R&D and product innovation as far as packaging is concerned. Furthermore, the stringent food safety policies in the countries of the U.S. and Canada drives the demand of smart packaging in the food & beverage sector.
APAC is expected to experience the fastest growth during the forecasted period due to the economic growth of China and India. The region offers flourishing market for such technological advanced packaging solutions. The FDI in retail has further widened the scope of smart packaging and lures the foreign players to enter the market with new packaging solutions. This is backed by the increasing demand of packaged food and beverages in countries like China and India due to increasing disposable income.
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