Summary

Global Smart Packing Solutions Market Analysis Information by Technology (Active Packaging, Intelligent Packaging, and Modified Atmosphere Packaging), Application (Food & Beverage, Healthcare, Automotive, Personal Care, and Others), Region (North America, Europe, Asia-Pacific, Rest of the World)—Forecast till 2025

Smart Packing Solutions Market Analysis Synopsis

The Smart Packing Solutions report has focused on many vital trends and thus analyzed that the prime factors driving the Smart Packing Solutions market are the increased demand from the food & beverage and pharmaceutical industries. Smart Packing Solutions is known for its protective nature which is mainly used for prolonging shelf life, observing freshness, exhibiting information on quality, and refining the safety and convenience of the products. With these features, Smart Packing Solutions has made the product widely adopted, which in turn, has helped in the proliferation of the market.

As per a detailed analysis by Market Research Future (MRFR), the global Smart Packing Solutions is presently estimated at USD 46.74 billion. The market is likely to demonstrate a striking CAGR of 5.16% during the forecast period (2017-2023). The changing consumer preference for safe food is resulting in innovations in packaging technologies.

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Smart Packing Solutions Market: Segmental Analysis

The global Smart Packing Solutions Market Analysis has been segmented on the basis of technology and application.

The technology segment of Smart Packing Solutions consists of active, MAP, and intelligent. Among these, the modified atmosphere packaging (MAP) assists in extending the shelf life of fresh food items. The technology enables the replacement of the atmospheric air inside a package along with a protective gas mix. The gas further keeps the food intact and fresh for a long time. It also allows fresh processed packaged food items on order to maintain the texture, visual, and nutritional appeal.

By mode of application, the global Smart Packing Solutions Market Analysis has been segmented into automotive, food & beverages, personal care, healthcare, and others. Among these, the food & beverage segment is predicted to show significant growth rate as they are extensively used to maintain the shelf life of the perishable products.

Competitive Dashboard

The prominent players operating in this region comprises

TempTime Corporation

3M Company (U.S.)

American Thermal Instruments

PakSense Inc.

R.R. Donnelly Sons & Company

Avery Dennison Corporation

International Paper

BASF SE

Huhtamaki Group

Stora Enso, and Smartrac N.V.

Market Potential and Pitfalls

Smart Packing Solutions market has witnessed a tectonic surge in the past few years. Packaging technologies have witnessed innovations due to the changing preferences of the consumers. Additive technologies like oxygen scavengers and antimicrobials are added by quality indicators based on temperature monitoring and gas detection of the products in order to reduce the contamination and deterioration of the food. Due to the surging demand for advanced packaging solution from several pharmaceutical and processing industries, the Smart Packing Solutions Market Analysis is witnessing a significant surge during the review period. Smart Packing Solutions Market Analysis has gained momentum across industry verticals. The contribution towards the pharmaceutical segment is unparalleled. Advancements in technology, legislative changes, and new drugs require changes in the packaging. 

On the contrary, the high cost associated with these Smart Packing Solutions is considered to restrict the growth of the market during the forecast period.

Industry Updates

May 17, 2019: HP Inc will introduce its brand-new HP Indigo 30000 digital press in India with its first-ever installation at the Parksons Packaging Plant in Daman. The digital press is one-of-a-kind digital folding carton press which assists the carton printing industry to cater to the demands coming from the end-users including personal care & cosmetics, healthcare, and F&B sectors.

Regional Insights

Geographically, the Smart Packing Solutions Market has been studied under regions namely, Asia Pacific, Europe, North America, and the Middle East & Africa.

Considering the global scenario, the North American region is anticipated to lead the global Smart Packing Solutions Market Analysis due to the extension of shelf life, surging investment activities in R&D, product innovation, and reduction of food waste the regional market is gaining huge prominence. Canada and the US are considered important country-specific markets in this region.

Europe bags the second position in the global market due to the high population density. Government imposed strict laws owing to environmental concerns which is triggering the demand for Smart Packing Solutions in this region. Germany, France, Spain, Italy, and the UK are the major country-specific markets in this region.

The Asia Pacific region is witnessing a significant growth due to the surging industrialization, Factors such as easy availability of raw materials, rising demand for personal care products, cheaper manufacturing costs, and rising use of RFID tags in the automotive industry has spurred the growth in this region. Moreover, strict regulations from the government associated to environmental concerns and high demand for premium luxury products are promoting the growth of Smart Packing Solutions in this region.

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