Global Smart Packaging Market

Smart Packaging Market Size, Share, Growth Analysis, By Technology(Active, modified, Intelligent), By End Use(Food & Beverages, Personal & Household Care, Consumer Goods, Industrial), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15Q2005 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 64 | Figures: 77

Smart Packaging Market Regional Insights

With the biggest market share in the smart packaging industry, Asia-Pacific is currently the largest packaging market in the world. The region's huge and expanding population, rising consumer expenditure, and growing urbanization are a few reasons for this. The demand for packaged goods is increasing along with the population in the Asia-Pacific region, particularly in the food and beverage and healthcare sectors. The emergence of organized retail and e-commerce sectors in the area as a result of the rapid urbanization has also increased the demand for packaging solutions. Additionally, a lot of businesses in the packaging sector have relocated their production operations to Asia-Pacific due to the region's affordable labor and welcoming business environment.

North America is a sizable market for Smart packaging, with a focus on eco-friendly packaging options and cutting-edge packaging technologies. In particular in the food and beverage, healthcare, and consumer goods industries, the area is a large consumer of packaged goods and is home to numerous top packaging companies. Due to a shift in consumer behavior towards online shopping and home delivery services, the pandemic has increased the need for packaged goods. This has led to an increase in demand for packaging materials, particularly in the e-commerce and food & beverage sectors. In The North American region, the U.S. Smart Packaging market had the biggest market share, and the Canada Packaging market had the quickest rate of growth.

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FAQs

Smart Packaging Market size was valued at USD 252 billion in 2022 and is poised to grow from USD 267.62 billion in 2023 to USD 433.03 billion by 2031, at a CAGR of 6.2% during the forecast period (2024-2031).

The key market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also pursuing a variety of strategic actions to increase their footprint. In order to grow and remain in a market that is becoming more and more competitive, competitors in the packaging sector must provide affordable products. 'Amcor plc (Australia)', 'Sealed Air Corporation (US)', 'Berry Inc. (US)', 'Mondi plc (UK)', 'Sonoco Products Company (US)', 'WestRock Company (US)', 'Huhtamaki Oyj (Finland)', 'International Paper Company (US)', 'Coveris Holdings S.A. (Luxembourg)', 'AptarGroup, Inc. (US)', 'Smurfit Kappa Group plc (Ireland)', 'DS Smith plc (UK)', 'Bemis Company, Inc. (US)', 'Aptean (US)', 'Uflex Ltd. (India)', 'Graphic Packaging Holding Company (US)', 'Tetra Pak International S.A. (Switzerland)', 'Crown Holdings Inc. (US)', 'Gerresheimer AG (Germany)', 'Aptargroup Inc. (US)', 'RPC Group plc (UK)', 'SIG Combibloc Group AG (Switzerland)'

With the biggest market share in the smart packaging industry, Asia-Pacific is currently the largest packaging market in the world. The region's huge and expanding population, rising consumer expenditure, and growing urbanization are a few reasons for this. The demand for packaged goods is increasing along with the population in the Asia-Pacific region, particularly in the food and beverage and healthcare sectors. The emergence of organized retail and e-commerce sectors in the area as a result of the rapid urbanization has also increased the demand for packaging solutions. Additionally, a lot of businesses in the packaging sector have relocated their production operations to Asia-Pacific due to the region's affordable labor and welcoming business environment.

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Global Smart Packaging Market

Product ID: SQMIG15Q2005

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