CRI Report has released a report titled “Smart and Intelligent Packaging Market – Analysis of Market Size, Share & Trends for 2020 – 2030 and Forecasts to 2030” which is anticipated to reach USD 30.5 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 7.89% between 2020 and 2030. According to the report, the market is estimated to proliferate owing to Customers’ changing lifestyles as a result of rapid urbanization and increased usage of unique personal goods combined with enhanced integrated innovation. Furthermore, untapped geographic areas with massive open doors for market participants are relying on to drive the global packaging market business. The investigation of nanotechnology into various F&B applications, need for shelf-stable and sustainable packaging solutions among food and beverage retailers and producers, and rising consumption of packaged food products are all contributing to the market’s growth.
The market report on global Smart and Intelligent Packaging market includes in-depth insights as:
- The estimated value of the market was USD 18.01 billion in the year 2020.
- Region wise, the market in North America which held the largest market share in the year 2020, emerged as a key market for Smart and Intelligent Packaging Market.
- Based on technology, Intelligent packaging emerged as a key segment in the global Smart and Intelligent Packaging Market.
- Based on End-User vertical, food and beverage segment emerged as a key segment in the global Smart and Intelligent Packaging market.
- Key players are likely to focus on product innovations and expansion through merger to retain their positions in developed markets.
“Increased demand for food items such as frozen food and packaged food has come from a growing sophisticated population combined with changing and busy lives in which people prefer to eat ready-to-eat commercial meals which utilize smart and intelligent packaging. Increasing health awareness and Increasing demand for exotic fruits and vegetables, frozen items, and meat across different nations have all contributed to the market’s favorable expansion.”, according to this report
The demand for packaged, frozen, and ready-to-eat food has increased significantly in recent years as a result of changing urban lifestyles and worldwide population patterns. The packaging business has been concentrating on developing solutions that give maximum food security while retaining nutritional content at competitive rates, since supply of exotic fruits and vegetables, meat products, and frozen meals has crossed global boundaries. Packaging systems utilized with foods, medicines, and a variety of other items are referred to as intelligent packaging or smart packaging. It aids in the extension of shelf life, the monitoring of freshness, the presentation of quality information, the improvement of safety, and the improvement of convenience. smart packaging protects the product from the material while the Intelligent systems offer more information on the cover in electronic or non-electronic formats
Global Smart and Intelligent Packaging market is segmented by technology into Smart packaging and Intelligent packaging. Intelligent packaging is the most recent innovation in the packaging industry. In the food industry, this technology is advancing at a quicker rate, with great potential to enhance customer convenience. The condition of the outer packaging may be reported, and the quality of the product within the box can be immediately measured. Biosensors for pathogen or hazardous identification, which is a major problem in the food and intelligent packaging industries, are assisting in this by attaching antibodies to a plastic attaching surface, which may offer customers a false sense of security. The use of printed electronics for intelligent packaging and smart labelling is becoming more popular. Printed electronics is one of the key components of the intelligent packaging revolution, and it has the potential to be a game-changing technology for cost reduction and capability expansion. Technological advancements are fueling the demand for intelligent packaging.
Key Players in the Market
- Some of the key players operating in the global Smart and Intelligent Packaging market are BASF SE, Amcor Ltd., Ball Corp., Graham Packaging Company Inc., Landec Corp., Mitsubishi Gas Chemical, Sealed Air Corp., SYSCO Corp., Timestrip, PLC, VIP Packaging.
Get Valuable Insights into Global Smart and Intelligent Packaging Market
In the new report, CRI Report thrives to present an unbiased analysis of the global Smart and Intelligent Packaging market that covers the historical demand data as well as the forecast figures for the period, i.e., 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by Technology into Smart packaging, Intelligent packaging. By End-User Vertical into Food, Beverage, Healthcare, Personal Care, Other End-user Verticals. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa.