Smart Packaging Market 2023 Size, Share, Industry Analysis, Trends and Forecast 2028

SHERIDAN, WYOMING, UNITED STATES, February 25, 2023 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Smart Packaging Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global smart packaging market size reached US$ 33.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.8 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

Smart packaging involves specialized materials with advanced technology that improves packaging functionality by engineering smart elements in traditional packaging. As part of the packaging, biosensors are embedded in the material for the detection of pathogens and toxic elements in food. In addition to facilitating reporting of packaging conditions, precise measurements of inside product quality, and improving the taste, aroma, and flavor of food products, it helps extend the shelf life of the product. Furthermore, it contributes to premium pricing, brand protection, waste reduction, and food preservation.

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Market Trends:

The global market is majorly driven by the escalating demand for smart product labels across the organized retail sector. This can be attributed to a considerable rise in the number of online and offline organized retail channels across the globe. In addition to this, the increasing adoption of nanotechnology applications in a wide range of end-use industrial applications is also propelling the market. Moreover, the growing commercialization of printed electronics, along with the augmenting demand for improved logistics and supply chain management, is also positively impacting the market. The increasing consumption of packaged products with an enhanced focus on sustainable packaging solutions is also providing an impetus to the market. Some of the other factors, such as rapid urbanization and industrialization, the rising trend of product premiumization, inflating disposable income levels, and extensive research and development (R&D) activities, are further contributing to the market growth.

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List of Key Companies Covered in this Market Report:

Amcor plc
American Thermal Instruments
Avery Dennison Corporation
Berry Global Inc.
Crown Holdings Inc
Dupont De Nemours Inc.
Linde plc
Multisorb Technologies Inc. (Filtration Group Corporation)
Point Five Packaging LLC
R.R. Donnelley & Sons Company
Sealed Air Corporation
WestRock Company
Zebra Technologies Corporation.

The report has segmented the market on the basis of technology, industry vertical and geography.

Breakup by Technology:

Modified Atmosphere Packaging
Active Packaging
Antimicrobial
Gas Scavengers
Moisture Control
Corrosion Control
Intelligent Packaging
Indicators
Tracking Devices

Breakup by Industry Vertical:

Food and Beverages
Automotive
Healthcare
Personal care
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
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