Smart Packaging Market: Overview, Data Updates, Reports Analysis & Forecast | FMI

The smart packaging market may be worth US$ 24.6 billion in 2023 and US$ 38.3 billion in 2033. The smart packaging industry is expanding at a CAGR of 4.5% over the anticipated time frame. Increasing the shelf life and traceability of food products through the use of smart packaging may have a favorable effect on the market growth for smart packaging throughout the projected period.

Smart packaging is a synthesis of specialized materials, science, and technology that improves the functioning of conventional packaging by including active and intelligent packaging.

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The smart packaging business is anticipated to develop due to the increasing demand for environment-friendly, sustainable products from the food and beverage and pharmaceutical industries. Rising research and development spending to lessen carbon footprints may escalate market expansion for smart packaging.

Rising Demand for Smart Packaging in the Food Industry Drives Market Growth

Smart packaging can be used in the food and beverage industry to track a product’s location during transportation, monitor its quality and freshness, and provide the consumer with information on its ingredients and nutritional value. This could improve the quality and safety of the goods and the shopping experience.

The desire from consumers for packaging that controls temperature and preserves food safety and freshness is driving the growth of the smart packaging industry further.

Packaging in the Age of E-commerce: Capitalizing on New Possibilities
The development of technological advances aimed at improving client security and safety results from the growing e-commerce industry. Shipping applications are among these breakthroughs. They offer features including precise product tracking and information on the manufacturing facilities, delivery partners, and shipper’s warehouses.

Online shopping is rising in developed, developing, and developing nations. Intelligent packaging solutions that include information about shipment monitoring and how product delivery benefits customers and offers attractive market potential. Moreover, smart packaging manufacturers can expect to benefit from the expanding E-commerce industry, great industrialization, and strong demand for large supply chain management.

Key Takeaways

*The United States smart packaging market to expand at a CAGR of 3.4% between 2023 and 2033, it hits US$ 6 billion by 2033.
*Between 2023 and 2033, the United Kingdom’s smart packaging industry is to reach US$ 1 billion by 2033.
*By 2033, China’s smart packaging market is expected to be worth US$ 9.7 billion.
*From 2023 to 2033, Japan’s smart packaging industry is expected to secure a CAGR of 4.7%.
*China’s smart packaging market may expand at a CAGR of 5.9% from 2023 to 2033.
*Japan’s smart packaging industry may have a value of US$ 6 billion in 2033.
*South Korea’s smart packaging businesses are anticipated to expand at a CAGR of 4.9% during the projection period.
*By 2033, South Korea’s smart packaging market is expected to be worth US$ 2.3 billion.
*The United Kingdom’s smart packaging market is to see a 3% CAGR between 2023 and 2033.
*The modified atmosphere packaging segment of the type category in the smart packaging industry is predicted to develop at a CAGR of 4.4% by 2033.
*The food & beverage segment is to expand at a CAGR of 4.3% in the end-user category in the smart packaging business between 2023 and 2033.

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Essential Key Smart Packaging Manufacturers

Avery Dennison Corporation
Ball Corporation
Sysco Corporation
Zebra Technologies Corp. (Temptime Corporation)
International Paper
R.R. Donnelley & Sons Company
Stora Enso