Smart Consumer Lifestyle to Propel Smart Packaging Market within 2022-2028

Smart Packaging
  • Smart Packaging Market

TheGlobalSmart Packaging Marketis expected to reach and expand from USD 13.88 Billion in 2021 to USD 33.00 Billion by 2028 growing at a Compound Annual Growth Rate (CAGR) of 12%. Smart Packaging is an emerging technology with embedded sensors used for foods, pharmaceuticals, and various types of other products. The main objective of Smart Packaging is to extend shelf life, examine freshness of the product, monitor information on quality to improve product and consumer safety. This improvement comes as a result of increased information monitoring and transparent display granted to the consumer resulting in an opportunity to learn more about the companies and products they are purchasing from and using. Whereas on the business side, Smart Packaging can be used to study more about the consumer behavior to provide a more personalized and accessible experience for the consumer to increase engagement with the business.

Also important in promoting Smart Packaging is the increase in consumer concerns about food safety, and food security. Consumer lifestyle changes have also been a growing factor in the increasing use of Smart Packaging. Government regulations in various states regarding food waste are also the driver of the Smart Packaging Market. Advances in printing processes in various industries have also been a factor in this market. Industrial growth in various regions, safety and product protection of a particular product are also some of the drivers driving the Smart Packaging Market. On the other hand, Smart Packaging does not produce any waste and cannot be recycled which is a major challenge in the Smart Packaging Market. Research into the development of sustainable materials that can allow the implementation of degenerative neurons through bio is very limited.

Smart Packaging Market is divided into five different types such as active Smart Packaging, interactive packaging, intelligent packaging, controlled permeability packaging, modified atmosphere packaging, and functional food packaging. These systems have oxygen scavengers that help eliminate oxygen content and also protect food from UV light. The Smart Packaging tells if the packaged food is spoiled for the customers. The shelf life of packaged foods can also be measured using intelligent packing-based packaging systems. Food packaging based on the gas index determines the oxygen or carbon dioxide that is present in the food. Biosensors are used to detect viruses and if there is contact between viruses and antibodies then this system will display a warning to the customer. These are also used in pharmacies to allow for the safe release of drugs. Due to the increasing demand for packaged goods, the active packaging component is likely to grow rapidly throughout the entire speculative period. This package is able to control humidity levels, absorb odors, and maintain the right conditions to prevent decay.

The Asia Pacific region is expected to record the highest growth rate for the forecast period due to rising levels of health awareness among consumers. High levels of consumer waste, as well as their use of consumables and medicines, can increase the need for Smart Packaging. RFID product integration, segmentation, and environmental concerns are all expected to have a significant impact on regional market demand. Overall, the global Smart Packaging market consists of Asia Pacific, North America, Europe, Latin America, Middle East and Africa.

Key players in the Global Smart Packaging Market include - Bureau Veritas SA (France), SGS S.A. (Switzerland), Eurofins Scientific SE (Luxembourg), Intertek Group Plc. (U.K.), Mérieux NutriSciences Corporation (U.S.), TÜV SÜD AG (Germany), ALS Limited (Australia), National Technical Systems, Inc. (U.S.), Microbac Laboratories Inc. (U.S.), EMSL Analytical Inc. (U.S.), and Campden BRI (U.K.).