Industry Background:
The smart packaging industry is potentially contributing to the growth of various sectors of the economy. This industry across the globe is evolving rapidly owing to changing consumer preference for packaging solutions. Additionally, the industry is likely to witness high growth in the near future due to rapid urbanization, increasing disposable income, and rising awareness about recent technologies in the packaging industry. Companies in the market are focusing on the development of advanced material for moisture and corrosion resistive packaging primarily for personal care, food & beverages, and healthcare products. Moreover, the commercialization of printed electronics for smart labels and intelligent packaging is growing which is acting as a positive trend in the market.
This growth is primarily driven by Changing Lifestyle Standard in Emerging Economies Due to Rapid Urbanization and Rising Demand of Sustainable Printed Electronics Technology for Smart Labels.
Globally, a noticeable market trend is evident Technological Advancements in the Printing Technology
. Major Vendors, such as 3M (United States), TempTime Corporation (United States), PakSense (United States), American Thermal Instruments (United States), Avery Dennison (United States), R.R. Donnelly Sons & Company (United States), BASF SE (Germany), International Paper (United States), Stora Enso (Finland), Thin Film Electronics ASA (Norway), Huhtamaki Group (Finland) and Smartrac N.V. (Netherland) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Regulatory Insights:
“The European Food Safety Authority (EFSA) defines intelligent packaging materials as materials and articles that monitor the condition of packaged food or the environment surrounding the food. They have the ability to communicate the conditions of the packaged product, but they do not interact with the product. Their aim is to monitor the product and transmit the information to the consumers. This can be information about the condition of a package and its contents, time of manufacture or storage conditions. Depending on whether it is a simple or a reactive intelligent packaging, these can be placed on the primary (outside or inside), secondary or tertiary packaging.”
Market Drivers
- Changing Lifestyle Standard in Emerging Economies Due to Rapid Urbanization
- Rising Demand of Sustainable Printed Electronics Technology for Smart Labels
Market Trend
- Technological Advancements in the Printing Technology
- Growing Demand for Smart and Functional Packaging
Restraints
- Fluctuating Raw Material Prices
- High Cost of Smart Packaging
Opportunities
Emergence of Bio-Engineered Films and Printed Electronics and Increasing Demand for Packaged Food & Beverage Products
Challenges
High R&D Cost for Smart Packaging
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Smart Packaging Study Sheds Light on
The Smart Packaging Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Smart Packaging industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Packaging industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.