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Submit Home & Garden Press Release (HomeGarden247.com, August 09, 2022 ) In todayís food industry, a productís package is every bit as important as its contents. Increasing attention given to the smart packaging for the many ways by which itís changing the consumer product packing industry and the packaging industry as a whole. Smart packaging refers to the emerging technologies within the packaging industry that increase consumer and business utility.
The growth of smart packaging market is backed by a growing proportion of older people and changes in consumer lifestyles, increasing demand for advanced packaging solutions from the food processing and pharmaceutical sector, growing consumer concern for food wastage reduction, and demand for smart and functional packaging. Moreover, the growing e-commerce market and rising industrialization in the emerging economies, including India and China, coupled with strong demand for superior logistics and supply chain management, are likely to drive the industry over the forecast period. However, the high cost and unwillingness of brand owners to pay an additional cost of smart packaging are expected to hinder the growth of this market to some extent.
The smart packaging market is expected to reach $43.6 billion by 2027, at a CAGR of 5.2% during the forecast period of 2020 to 2027.
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Scope of the report:
Smart Packaging Market, by Packaging Technology
Modified Atmosphere Packaging (MAP)
Ethylene Scavengers &Emitters
Temperature Control Packaging
Carbon Dioxide Scavengers/Emitters
2D Matrix Codes
Quick Response Codes
Augmented Matrix Codes
Smart Packaging Market, by Application
Food & Beverages
Smart Packaging Market,by Geography
Rest of Europe
Rest of The Asia Pacific
Rest of Latin America
Middle East and Africa
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The Asia-Pacific region to grow at the highest CAGR during the forecast period.
On the basis of region, the smart packaging market is segmented into North America, Europe, APAC, Latin America, and the Middle East & Africa. During the forecast period, the Asia-Pacific market is expected to grow at the highest CAGR. The changing lifestyle, increasing demand for packaging solutions with longer sustainability, and growing demand for fresh & quality food are the factors driving the growth of this regional segment.
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the smart packaging market over the last four years. The key players operating in the global smart packaging market are 3M (U.S.), Avery Dennison Corporation (U.S.), American Thermal Instruments (U.S.), Temptime Corporation (U.S.), Smartrac N.V. (Netherlands), BASF SE (Germany), Thin Film Electronics ASA (U.S.), Stora Enso (Finland), International Paper (U.S.), Amcor plc (Switzerland), Emerson Electric Co. (U.S.), R.R. Donnelly & Sons (RRD) Company (U.S.), Sealed Air Corporation (U.S.), and Smartglyph Ltd. (U.K.).
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