Overview
The Smart Packaging Market is anticipated to grow by US$37,264.78 Mn by 2023 rapidly growing at a CAGR of 5.32% during the forecast period. The global smart packaging market is driven by a rise in need for smart packaging. These factors have helped shape the smart packaging market and are expected to boost the growth. Companies in the smart packaging market could also face challenges such as high packaging cost as well as high cost of technology. The details covered in the smart packaging market report cover all the aspects of the industry. Analysts studying the smart packaging market have also shared growth projections in the report and have suggested smart packaging market players to plan business strategies accordingly.
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Market Segmentation
The global smart packaging market has been segmented based on application and technology. On the basis of application , the market for smart packaging is segmented based on automotive, food & beverage, healthcare, personal care, and others. Additionally, the market on the basis of technology, is segmented into active packaging, modified atmosphere packaging, and intelligent packaging.
Factors like the booming e-commerce sector and increased demand from the food & beverage industry support the smart packaging market growth. The performance of the smart packaging market has also been studied for the past and current years. Additionally, the smart packaging market report provides analysis of these segments. The smart packaging market segmental analysis provided in the report offers major details about the smart packaging market based on the data and forecasts till 2025.
Key Market Players:
Stora Enso (Finland), AVERY DENNISON CORPORATION (U.S.), BASF SE (Germany), TempTime Corporation (U.S.), Thin Film Electronics ASA (Norway), Huhtamaki (Finland), American Thermal Instruments (U.S.), 3M (U.S.), and R.R. Donnelly Sons & Company (U.S.)
Competitive Landscape
The smart packaging market is supported by increased research and development investment and product innovation . The population growth around the world and increasing demand of smart packaging market based services and products also support the market growth. However, the smart packaging market growth can be affected due to the rising cost of packaging. The report covers all such details which will help companies in the smart packaging market to strengthen their business plan and improve their product portfolio. The smart packaging market research report also provides company profiles of major companies. The company profiles of many organizations operating in the smart packaging market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the smart packaging market. New companies and established businesses can plan their strategies based on this data provided in the smart packaging market research report.
Regional Overview
Companies in the smart packaging market are spread across the world. The smart packaging market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American smart packaging market has many companies across the United States, Canada, and Mexico. The smart packaging market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the smart packaging market can be found in the market research report. Europe has companies in the smart packaging market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the smart packaging market across India, China, and Japan in the Asia-Pacific region is also presented in the report.
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Industry News
Syntegon Technology, with 150 years of experience, faces the newly obtained freedom. Known as Bosch Packaging Technology, the popular Bosch division projected itself as an autonomous corporation next year and started focusing on smart and safe technology for different industries including the pharmaceutical and food sectors.
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