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Global Smart Packaging Market - Segmented by Active Packaging, Intelligent Packaging, Modified Atmosphere Packaging (Horizontal & Vertical Flow Packaging, Deep-Drawing Machine) and Geography - Growth, Trends and Forecasts (2022 - 2030)
SKU ID : INH-13100791 | Publishing Date : 20-Feb-2018 | No. of pages : 108
The global smart packaging market is expected to register a CAGR of 4.28% during the forecast period, 2018-2023. The report discusses the types of packaging technologies and its segments in detail, while the regions considered in the scope of the report include North America, Europe, and various others. The study also focuses on various trends in the market, such as the increasing demand for longer and sustainable packaging products, which affect the same.
The terms ‘Active’, ‘Intelligent’, and ‘Smart’, are often used interchangeably in the case of packaging materials. As per the study scope, the smart packaging market comprises of active, intelligent, and modified atmosphere packaging (MAP) technology. Active and intelligent systems are a branch of packaging that is truly innovative and offers exciting opportunities for food safety, quality, and convenience. Many active and intelligent packaging concepts are commercially available, globally. The demand for longer shelf lives of food products and the increasing emphasis on reducing the use of preservatives in food products have spurred the demand for smart packaging solutions. Additionally, the need for minimally processed products is on the rise, and this has resulted in the need for new and innovative packaging solutions.
As food & consumer product market is expected to have a large growth margins over the forecast period, this may proportionally influence the increase of expenditure on packaged goods, and in particular food and personal care products, thus, driving the smart packaging market forward.
Growing Need for Longer Shelf Life of Food Products and Changing Lifestyle expected to Drive the Market
The demand for packaged food products with an extended shelf life and sterility has increased. In addition, growth in the consumption of frozen and chilled food products is also expected to drive the demand. Moreover, delivery strategies and increasing competition are observed within the market segments of supermarket, fast food, and convenience stores. This, in turn, is expanding the foodservice operations in an attempt to provide quality fresh foods that rival, and at times, exceed their fast food competitors. Also, a growth in the spending power of people in the developing countries, such as India and China, has also increased the demand for ready-to-eat food products, which is driving the demand for smart packaging solutions.
Oxygen Scavenger Technology Expected to Lead the Market
Oxygen scavengers is the most used technology for active packaging. There are two types of oxygen scavengers based on different concepts, self-adhesive labels to be included in packaging and active systems included in the packaging material. Oxygen scavengers are agents that react with oxygen to reduce its concentration. Ferrous oxide is the most commonly used scavenger. Most packages have a triggering mechanism to initiate the scavenging. It is widely used for the meat industry. In addition, increasing deployment in the food and pharmaceutical industries is expected to drive the demand during the forecast period. Also, stringent standards and regulations are playing a significant role in the deployment of this technology.
North America Expected to Lead the Market
The United States occupies the lion’s share of the market value in North America, followed by Canada. Growing working population and increasing demand for interactive and improved packaging solutions account for the expected growth in the market in the region. The United States is home to one of the busiest consumer markets, which forms a major part of the workforce. The demand for foods and beverages has risen markedly, due to the growing population (both, from within and due to immigration).To meet the huge demands of the food industry, there has been a significant increase in the volume of import of food from different regions across the world, thus, driving the demand for the smart packaging solutions in the region.
Key Developments in the Market
• January 2018 - Henkel and Selinko announced partnership for smart packaging solutions. It comprises of a collaboration agreement to expand and improve smart and interactive packaging solutions, especially focusing on FMCG markets.
• January 2018 - Beauty brand Avon has teamed up with British technology and product design firm Cambridge Design Partnership to test smart packaging in consumer trials of a new anti-aging product.
• September 2017 - Magic Add, an innovator in the Internet of Packaging (IoP) smart packaging solutions, announced a partnership with UPM Raflatac. The partnership aims to provide high-performance self-adhesive label materials for product and information labeling. In co-operation with Magic Add, UPM Raflatac launched RafMore, a smart label solution designed to power and extend brand promotion, protection, and logistics applications.
Major Players: SEALED AIR CORPORATION, BEMIS COMPANY INC., WINPAK LIMITED, POINT FIVE PACKAGING LLC, DANSENSOR AS, PRAXAIR, INC., BERRY GLOBAL INC., BALL CORPORATION, DESICCARE INC., LINPAC PACKAGING LIMITIED, COVERIS HOLDINGS SA, BASF SE, HUHTAMAKI GROUP, and AMCOR LIMITED, amongst others.
Reasons to Purchase this Report
• To know how the growing demand for longer and sustainable packaging products is changing market scenario
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The packaging technology that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
The terms ‘Active’, ‘Intelligent’, and ‘Smart’, are often used interchangeably in the case of packaging materials. As per the study scope, the smart packaging market comprises of active, intelligent, and modified atmosphere packaging (MAP) technology. Active and intelligent systems are a branch of packaging that is truly innovative and offers exciting opportunities for food safety, quality, and convenience. Many active and intelligent packaging concepts are commercially available, globally. The demand for longer shelf lives of food products and the increasing emphasis on reducing the use of preservatives in food products have spurred the demand for smart packaging solutions. Additionally, the need for minimally processed products is on the rise, and this has resulted in the need for new and innovative packaging solutions.
As food & consumer product market is expected to have a large growth margins over the forecast period, this may proportionally influence the increase of expenditure on packaged goods, and in particular food and personal care products, thus, driving the smart packaging market forward.
Growing Need for Longer Shelf Life of Food Products and Changing Lifestyle expected to Drive the Market
The demand for packaged food products with an extended shelf life and sterility has increased. In addition, growth in the consumption of frozen and chilled food products is also expected to drive the demand. Moreover, delivery strategies and increasing competition are observed within the market segments of supermarket, fast food, and convenience stores. This, in turn, is expanding the foodservice operations in an attempt to provide quality fresh foods that rival, and at times, exceed their fast food competitors. Also, a growth in the spending power of people in the developing countries, such as India and China, has also increased the demand for ready-to-eat food products, which is driving the demand for smart packaging solutions.
Oxygen Scavenger Technology Expected to Lead the Market
Oxygen scavengers is the most used technology for active packaging. There are two types of oxygen scavengers based on different concepts, self-adhesive labels to be included in packaging and active systems included in the packaging material. Oxygen scavengers are agents that react with oxygen to reduce its concentration. Ferrous oxide is the most commonly used scavenger. Most packages have a triggering mechanism to initiate the scavenging. It is widely used for the meat industry. In addition, increasing deployment in the food and pharmaceutical industries is expected to drive the demand during the forecast period. Also, stringent standards and regulations are playing a significant role in the deployment of this technology.
North America Expected to Lead the Market
The United States occupies the lion’s share of the market value in North America, followed by Canada. Growing working population and increasing demand for interactive and improved packaging solutions account for the expected growth in the market in the region. The United States is home to one of the busiest consumer markets, which forms a major part of the workforce. The demand for foods and beverages has risen markedly, due to the growing population (both, from within and due to immigration).To meet the huge demands of the food industry, there has been a significant increase in the volume of import of food from different regions across the world, thus, driving the demand for the smart packaging solutions in the region.
Key Developments in the Market
• January 2018 - Henkel and Selinko announced partnership for smart packaging solutions. It comprises of a collaboration agreement to expand and improve smart and interactive packaging solutions, especially focusing on FMCG markets.
• January 2018 - Beauty brand Avon has teamed up with British technology and product design firm Cambridge Design Partnership to test smart packaging in consumer trials of a new anti-aging product.
• September 2017 - Magic Add, an innovator in the Internet of Packaging (IoP) smart packaging solutions, announced a partnership with UPM Raflatac. The partnership aims to provide high-performance self-adhesive label materials for product and information labeling. In co-operation with Magic Add, UPM Raflatac launched RafMore, a smart label solution designed to power and extend brand promotion, protection, and logistics applications.
Major Players: SEALED AIR CORPORATION, BEMIS COMPANY INC., WINPAK LIMITED, POINT FIVE PACKAGING LLC, DANSENSOR AS, PRAXAIR, INC., BERRY GLOBAL INC., BALL CORPORATION, DESICCARE INC., LINPAC PACKAGING LIMITIED, COVERIS HOLDINGS SA, BASF SE, HUHTAMAKI GROUP, and AMCOR LIMITED, amongst others.
Reasons to Purchase this Report
• To know how the growing demand for longer and sustainable packaging products is changing market scenario
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The packaging technology that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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