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Market Overview:
The Smart Packaging Market size is estimated to reach $72 billion by 2030, growing at a CAGR of 6.4% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Smart Packaging Market – By Type (Active Packaging, Intelligent Packaging, Modified Atmosphere Packaging), By Material (Solid, Liquid), By Application (Pharmaceuticals, Food & Beverages, Automotive, Electronic Goods, Logistics, Personal Care, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Technological advancements in smart packaging solutions and their increasing integration across various sectors, including residential, commercial, and industrial, are key drivers of growth in the smart packaging industry. Innovations such as advanced sensor technologies, real-time monitoring, and interactive features are enhancing functionality and user experience.
Asia Pacific Dominated the Market in 2023
Asia Pacific is analyzed to grow with the highest CAGR of 7.8% during the forecast period 2022-2033 owing to surging consumer demand, growing consumption of alcoholic beverages and rapid smartphone adoption. Additionally, the burgeoning e-commerce landscape and a thriving manufacturing sector contribute significantly to the surge in smart packaging adoption. The region's proactive approach to innovation, coupled with evolving consumer demands emphasizing sustainability and product integrity, propels APAC as the epicentre for unparalleled growth and advancements in smart packaging solutions.
Smart Packaging Market: Key Takeaways
Integration of Advanced Sensor Technologies
The integration of advanced sensor technologies in smart packaging is transforming the industry by enabling real-time monitoring and enhanced functionality. Sensors that track freshness, temperature, and environmental conditions are becoming increasingly common, providing consumers and businesses with valuable data to ensure product quality and safety. This innovation not only improves supply chain efficiency but also supports better inventory management and reduces waste. Companies developing smart packaging solutions with these advanced features are well-positioned to capture market share and meet the growing demand for intelligent packaging solutions.
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Rising Demand for Sustainable and Eco-Friendly Solutions
The growing emphasis on environmental sustainability is driving significant growth in the smart packaging market. Consumers and businesses alike are increasingly seeking packaging solutions that minimize environmental impact through reduced waste, improved recyclability, and the use of eco-friendly materials. Smart packaging solutions that incorporate sustainable practices and materials are gaining traction, as they align with broader corporate sustainability goals and consumer preferences for environmentally responsible products. Companies that innovate in this space and offer packaging solutions that balance functionality with sustainability will be better positioned to succeed in the evolving market.
Scope of the Report:
Recent Developments:
- In Apr 2022, Nextech AR Solutions Corp., a Metaverse Company and provider of augmented reality (AR) experiences, has teamed up with Bothwell Cheese to place a QR code triggered and floor anchored hologram on its cheese labels.
- In Nov 2021, Tetra Pak has launched the Iberia connected experience, created in partnership with Appetite Creative, to engage consumers via QR code-enabled smart packaging.
Smart Packaging Market: Competitive Landscape
Key companies profiled in the Smart Packaging Market are Asahi Kasei Corporation, Avery Dennison Corporation, BeFC and others.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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Mr. Venkat Reddy
IndustryARC
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