San Francisco, 19 June 2020 — “Smart Packaging Market Analysis By
Regions (North America, Europe, Asia-Pacific, Latin America and Africa),
Product, By Application And Segment Forecasts To 2027”
Global Smart Packaging Market is anticipated to reach USD 26.7 billion by 2024. Smart
Packaging is also known as “Intelligent Packaging” or “Active Packaging”. Smart
packaging is used for personal care, food & beverages, automotive and healthcare
products. They provide extended shelf life, monitor freshness, ensure safety
and improve suitability.
The factors that propel the
growth of the market include changes in lifestyle patterns owing to surge in
consumption of cosmetics and beauty products, rapid urbanization, and
technological development in the packaging. On the other hand, there are
factors that may hamper the growth of the market including intelligent
packaging and high cost. Smart Packaging industry is anticipated to grow at a significant
CAGR of 10.6% of in the upcoming period as the scope, product types, and its
applications are increasing across the globe.
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North America accounted for the
major share of the Smart Packaging Market Size in 2015 and will continue to
lead in the forecast period. The factors that could be attributed to the growth
includes fast development in the industries such as pharmaceutical, food &
beverage, logistics, automotive, and manufacturing coupled with stable recovery
from economic recession is anticipated to propel the demand over the forecast
period. Increasing expenditure ability of consumers coupled with rising
concerns on improving the general health in the region is anticipated to propel
the smart packaging industry over the forthcoming period.
Some of the key players that fuel
the growth of the smart packaging industry comprise Constar International Inc.,
Crown Holdings Inc., Bemis Company, Inc., Ball Corporation, Ampacet
Corporation, Multisorb Technologies, Graham Packaging Company Inc., Sysco
Corporation (Fresh Point Services), Rexam PLC, and Timestrip, PLC. The leading
companies are taking up partnerships, mergers and acquisitions, and joint
ventures in order to boost the inorganic growth of the industry.
This report studies the global Smart Packaging market status and
forecast, categorizes the global Smart
Packaging market size (value & volume) by manufacturers, type,
application, and region. This report focuses on the top manufacturers in United States, Europe, China, Japan, South
Korea and Taiwan and other regions.
This research report offers a
comprehensive analysis of key elements of the Smart Packaging Market such as potential top key Manufacturers
along with their strengths and weaknesses. The Smart Packaging Market report also comprises some useful strategies
and scenario for the new players in the market. While forecasting the growth of
the global Smart Packaging market,
various statistical tools were utilized to get an accurate result of the
Demographic data.
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