The Global Intelligent and Smart Packaging Market is projected to grow at a CAGR of 13.2% from USD 36.71 billion in 2019 to USD 99.68 billion by 2027. Increasing requirements for effective packaging solutions specially for food and beverages, pharmaceutical sector is a key factor behind the industry’s consistent growth. Apart from this, food safety regulations introduced by governments around the world is further fuelling the market’s growth. Increasing investments for developing efficient packaging solutions is likely to provide major boost to the industry. Growing awareness regarding the benefits offered by the packaging solutions especially for food items and pharmaceuticals is having a major positive impact on the industry. Apart from this favourable regulations introduced by organizations like FDA regarding manufacturing of packaging materials is expected to further augment the market’s growth. These packaging solutions are extremely beneficial for pharmaceuticals, personal care and cosmetics products, beverages, meat products, vegetables and ready-to-go meals amongst others.
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Competitive Landscape:
The global Intelligent and Smart Packaging market is extremely competitive and comprise of various key players at regional and global levels. These players are focusing on developing strategic alliances such as mergers and acquisitions, partnerships, product launches, joint ventures, to strengthen their market position and enhance their product base. Some of the key companies operating in the global market are BASF SE, Danaflex Nano LLC, Amcor Limited, Chevron Philips Chemical Co. LLC, Sonoco Products Co., Honeywell International Inc. and Others.
Market Overview:
The packaging industry is rapidly expanding in terms of revenue in the recent years, and is expected to register rapid revenue CAGR throughout the forecast period of 2020 to 2027. Rapid revenue growth is attributed to factors such as rising global population, changing lifestyle, increasing disposable income and rapid growth of the e-commerce sector. Increasing penetration of internet, social media, improving standard of living and rapid growth in the doorstep deliveries are some other factors boosting global market revenue growth. In addition, various manufacturers are focusing on offering sustainable packaging to cater to rising environmental concerns. Local dealers are focusing on innovative packaging to attract consumers.
Key questions addressed in the report:
- What size is the global Intelligent and Smart Packaging market expected to reach over the forecast period?
- Which revenue CAGR is the global market expected to register throughout the forecast period?
- Which factors are expected to hamper global market growth during the forecast period?
- Which key factors are expected to driver global Intelligent and Smart Packaging market throughout the forecast period?
- Which application segment is expected to register fastest revenue CAGR between 2020 and 2027?
- Which region is expected to register fastest revenue CAGR throughout the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
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Global Intelligent and Smart Packaging Market Segmentation:
Type Outlook:
- Intelligent and Smart Packaging
- Intelligent and Smart Packaging
- Controlled Release Packaging
- Others
Applications Outlook:
- Food Beverages
- Pharmaceutical
- Personal Care Cosmetics
- Consumer Electronics
Regional Analysis covers:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- K.
- Rest of EU
- Asia Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- South Africa
- A.E
- Rest of MEA
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