Large-scale investments and expenditure being incurred by the major manufacturers and market players to improve the adoption rate for smart technologies in food packaging products which will help in driving the growth of the market. Smart packaging market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 6.58% in the above-mentioned forecast period. Smart packaging market has shown an exceptional penetration in developed economies in North America.
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Smart Packaging Market Analysis and Insights
Smart packaging is basically packaging integrated with different technologies like biosensors and radio frequency identification technology. The increasing demands for temperature controlled packaging solutions from the food and beverages and pharmaceutical industries due to their temperature sensitive contents is driving the growth in the market value. Moreover, companies which are in this business now-a-days are using labels for parts identification, branding which further induce the demand for the market. However, the high costs of implementation and production initially will create hindrances for the market growth rate It is a collection of advanced packaging methods and integration of various innovative technological methods that are applicable in packaging of contents that are sensitive in nature and require better traceability. The smart packaging solutions enable the consumers to gather greater information on the quality and freshness of the contents helping improve the convenience and safety levels and even can extend the overall shelf life of the contents in an efficient manner.
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Smart Packaging Market Country Level Analysis
The country section of the smart packaging market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
According to Data Bridge Market Research the smart packaging market is attaining a significant growth in developing economies during the forecast period of 2020-2027 due to factors such as high awareness rate amongst the global population, increasing demands for temperature controlled packaging solutions from the food and beverages, and pharmaceutical industries, number of technologically advanced innovations which will help in boosting the growth of the market.
North America is estimated to dominate the smart packaging market and will continue to flourish its trend of dominance during the forecast period due to the m existing infrastructure availability for smart warehousing, logistics and packaging. Asia Pacific is projected to show lucrative growth due to high demands for packaged food and associated packaged products that require increased concerns and care in the logistics cycle.
The countries covered in the market report are
U.S., Canada and Mexico in North America,
Germany, France,
U.K., Netherlands,
Switzerland, Belgium,
Russia, Italy,
Spain, Turkey,
Rest of Europe in Europe,
China, Japan,
India, South Korea,
Singapore, Malaysia,
Australia, Thailand,
Indonesia, Philippines,
Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC),
Saudi Arabia, U.A.E,
South Africa, Egypt,
Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Major TOC of the Smart Packaging Market Report
Chapter One:
MARKET SEGEMENTATION
EXECUTIVE SUMMARY
PREMIUM INSIGHTS
MARKET OVERVIEW
Competitive Landscape and Smart Packaging Market Share Analysis
Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart packaging market. The smart packaging market competitive landscape provides details by competitor.
Some of the major players covered in the smart packaging market report are
· 3M, Sealed Air, Bemis Company, Inc., Point Five Packaging, LLC, Mocon Denmark Holding ApS, Praxair Technology, Inc., Amcor plc, Avery Dennison Corporation, R.R. Donnelley & Sons Company, Stora Enso, DuPont de Nemours, Inc., American Thermal Instruments, Crown, Ampacet Corporation, Multisorb, Timestrip UK Ltd., ULMA Group, WestRock Company, UPM, LCR Hallcrest among others..
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