Intelligent Packaging Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Intelligent Packaging Market grew at a CAGR of 9.5% between 2017-2021 and is estimated to be US$ 14,368.9Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 10.2% and is expected to reach a valuation of US$ 37,952.4Mn by 2032 end.
Intelligent packaging refers to products that are interactive, linked, and smart in some way. These solutions are made to carry out intelligent tasks like tracing, tracking, recording, detecting, enhancing product quality, offering information, guaranteeing safety, and extending product shelf life.
Many brands in the food, beverage, healthcare, cosmetics, logistics & transport, consumer electronics, consumer goods, personal care, and home care industries have implemented intelligent packaging.
To increase customer involvement, interactive packaging is in greater demand across various end markets. Additionally, the market demand will be fueled by the growing requirement to track client satisfaction and loyalty to secure commercial opportunities.
INTELLIGENT PACKAGING SALES TO GROW AS BRANDS FOCUS ON SMART YET ECO-FRIENDLY PACKAGING SOLUTIONS
Several firms are implementing intelligent packaging solutions to meet consumer demand for smart, connected, interactive, user-friendly, and eco-friendly packaging. Examples include some of the following:
To attract Gen Z customers and increase brand loyalty, leading food and beverage manufacturer Nestlé uses SIG’s “One Cap, One Code” QR code closure solution in Vietnam.
For a variety of important pharmaceuticals, a worldwide healthcare corporation by the name of Fresenius Kabi adopted RFID smart labeling in 2020.
The British multinational candy business Cadbury uses clever packaging to encourage connections among its customers. On the packaging for its milk trays, the industry used a MaXQ QR code.
TRACK & TRACE PACKAGING WILL EMERGE AS GAME CHANGER
Producing, supplying, and transporting the product to final customers, producers, logistical partners, and numerous stakeholders guarantee a smooth flow of packaged food and beverages globally.
Due to the availability of identical items on the market, major international brands suffer significant losses. The development of cutting-edge and next-generation packaging solutions is expensive. It is being funded by major participants in the packaging industry to address these shortcomings of traditional packaging.
Both domestic and foreign businesses in the food and beverage industry are increasingly accepting the latest clever packaging technologies. By giving electronically printed NFC (Near Field Communication) labels on its bottles, Coca-Cola, a well-known beverage company, has switched to intelligent packaging.
As more businesses, particularly fresh food ones, enter the market, the demand for various technology-based packaging solutions is growing globally.
Market Segments Covered in Report
By Region and Country:
Who are the leading end users of intelligent packaging?
According to estimates, the market’s largest share belongs to the food and beverage industry in terms of end-use. This sector is anticipated to account for roughly 69.05% of the market. The demand for next-generation packaging will increase due to stringent regulations for storing and transporting various food and medical products.
The food, beverage, and healthcare industries primarily drive the demand for intelligent packaging. These sectors are predicted to have a significant need for packaging solutions that are intelligent, networked, interactive, user-friendly, and environmentally friendly.
Why is demand in the active packaging segment rising?
Among the other technology-based segments, it is projected that the active packaging category will continue to be the most profitable. According to projections, the dynamic packaging category will account for about 44.03% of the market.
The cause is the growing inclination across many end-use sectors for technology-based packaging to assure traceability, safety, and active packaging solutions.
Which level of packaging is preferred?
The primary packaging segment is projected to maintain its dominance based on the level of packaging. Leading businesses are putting their efforts into making primary packaging more interactive because it gives consumers their initial view of the goods, influencing their buying decision. During the projection period, the main packaging segment is anticipated to post a CAGR of 9.6%.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Leading companies that produce next-generation packaging are attempting to concentrate on innovation by developing new goods and embracing cutting-edge technologies. They hope to satisfy the demand observed across numerous industries through this. The players are also increasing their production capacity to meet the global market for smart, connected, and intelligent packaging.
The recent developments in the Global Intelligent Packaging Market:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Technology, Packaging, Application, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 10.2%.
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