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Intelligent Packaging Market Business Overview, Challenges, Opportunities, Trends And Market Analysis By 2023

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Summary

Global Intelligent Packaging Information: by product (Gas Scavengers, Corrosion Control Packaging, Moisture Control Packaging, Subsector Packaging, QR Code, and others), Application (Food & Beverages, Pharmaceuticals, Automotive, Electronics, and others), and Region – Forecast to 2023

Global Intelligent Packaging Market – Overview

Intelligent packaging is a system capable of carrying out intelligent functions like sensing, tracing, detecting, recording, communicating and applying scientific logic with the objectives of extending the shelf life of a product, improving quality, enhancing safety and providing all necessary information. There are various intelligent packaging systems such as indicators, radio frequency identification type and sensors. The aim is to detect and communicate information about the condition of the product, without taking any direct action.

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Active Packaging is a very dynamic market and is expected to witness high growth over the forecast period. The growth of such packaging is influenced by increased demand from food & beverage industry, growing demand from pharmaceutical industry, and increased government policies regarding food safety. However, high added cost of products, lack of willingness from consumers and retailers, and lack of marketing are expected to hinder the growth.

Food & Beverage industry has adopted intelligent packaging extensively across the world. There is seen an increased demand for intelligent packaging from the growing food & beverage industry, which has driven the market for global intelligent packaging. According to Institutional Repository of the Pan American Health Organization, global volume sales of processed food & beverages increased from 328,005 K Tons in 2010 to 471476 K Tons in 2013.

Key Players

Some of the key players in the global Intelligent Packaging Market include 3M (U.S.), TempTime Corporation (U.S.), PakSense (U.S.), American Thermal Instruments (U.S.), Avery Dennison (U.S.), R.R. Donnelly Sons & Company (U.S.), BASF SE (Germany), International Paper (U.S.), Stora Enso (Finland), Thin Film Electronics ASA (Norway), Huhtamaki Group (Finland), and Smartrac N.V. (The Netherlands), among others.

Global Intelligent Packaging Market – Competitive Analysis

Intelligent Packaging Industry has seen significant growth in last few years due to its application across industries, and supportive government policies on food safety. The companies have adopted the strategy of product development and technological advancement.

Such key strategies adopted by the major players in the global intelligent packaging market has been adopted to cater to the technological requirements of the Smart Packaging Market. The market is highly technology driven across all applications and thus demands regular product innovation and increased investment in R&D. Furthermore, the partnerships with other players across the supply chain ensures the expanding client base as well as the market share for the companies.

Multi Packaging Solutions (MPS) has partnered with a UK technology business to create barcodes that can interact with smartphones. The new development, called SmarterBarcodes, transforms a standard barcode on any pack format into a two-way communications channel. Consumers interact with the packaging by scanning the barcode with any mobile device that has a camera.

Intelligent Packaging Market   – Segments

Global Intelligent Packaging Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.

Segmentation By Product: Comprises – Gas Scavengers, Corrosion Control Packaging, Moisture Control Packaging, Susceptor Packaging, QR code, and others

Segmentation By Application:  Comprises – Food & Beverages, Pharmaceuticals, Automotive, Electronics, and others

Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World

Intelligent Packaging Market – Regional Analysis

Global intelligent packaging market is projected to grow at a faster pace due to the increasing requirements of packaging from industries such as food & beverage, electronics, and healthcare. The solutions in these sectors across the supply chain is driving the market globally for such packaging.

North America accounts for the largest share in the global intelligent packaging market. The region has witnessed increased investment in the R&D and product innovation as far as packaging is concerned.

APAC is expected to experience the fastest growth during the forecasted period due to the economic growth of China and India. The region offers flourishing market for such technological advanced packaging solutions. The FDI in retail has further widened the scope of intelligent packaging and lures the foreign players to enter the market with new packaging solutions.

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