Kings Research published a new report on Smart Packaging Market Size, Share, Growth, Industry Trends & Forecast 2031, covering various industry elements and growth trends helpful for predicting the industry future. Global Smart Packaging Industry was valued at USD 23.41 billion in 2023 and is expected to reach USD 36.74 billion by 2031, increasing at a 5.88% CAGR between 2024 and 2031.
List of Key Players:
- Amcor plc
- Sonoco Products Company
- Sealed Air Corporation
- Stora Enso Oyj
- Huhtamäki Oyj
- Avery Dennison Corporation
- Smurfit Kappa Group
- BASF SE
- 3M Company
- Tetra Pak International S.A.
Browse Full Report Detals Followed by TOC @ https://www.kingsresearch.com/smart-packaging-market-680
Key Drivers:
- Technological Advancements: The adoption of Internet of Things (IoT) technology in packaging is revolutionizing the industry. Smart packaging solutions enable real-time monitoring and data collection, enhancing product tracking and quality control. These technologies are instrumental in reducing waste and improving supply chain efficiency.
- Consumer Demand for Freshness and Safety: With rising health consciousness among consumers, there is a growing demand for packaging that ensures product freshness and safety. Smart packaging can provide real-time information about the product's condition, such as temperature and humidity levels, thereby assuring consumers of its quality.
- Regulatory Requirements: Stringent regulations regarding food safety and pharmaceutical packaging are propelling the demand for smart packaging solutions. Regulatory bodies across the globe are increasingly mandating the use of advanced packaging technologies to ensure product safety and compliance.
Competitive Landscapes:
The smart packaging market is highly competitive, with key players focusing on strategic initiatives such as mergers and acquisitions, partnerships, and product innovations. Leading companies in the market include:
- Amcor Limited: A global leader in packaging solutions, Amcor is at the forefront of developing innovative smart packaging technologies that enhance product safety and consumer convenience.
- 3M Company: Known for its cutting-edge technology, 3M is actively investing in smart packaging solutions to cater to the growing demand in various industries.
- Sealed Air Corporation: Sealed Air offers a range of smart packaging solutions that ensure product integrity and extend shelf life, particularly in the food and healthcare sectors.
