The global smart packaging market is expected to reach USD
26.7 billion by 2024, according to a new report by Grand View Research, Inc.
Rising need for smart packaging products owing to increasing usage in the end
use industries such as electronics and automotive on account of its superior
protection properties is expected to fuel the growth over the forecast period.
Rising industrialization in emerging regions including Asia Pacific and the
Middle East is expected to drive the industry over the next eight years.
Increasing application scope in
the logistics industry pertaining to the surging use of RFID tags at multiple
levels to speed up locating products, and to improve the availability of
real-time information coupled with the elimination of record loss is expected
to drive the demand over the next eight years. Moreover, rising investment to
improve the logistics industry within emerging economies such as China and
India are projected to propel the industry growth.
Active Packaging accounted for
over 70% of the market in terms of revenue on account of superior corrosion and
moisture control properties. Growing use of the product in the automotive
sector is likely to drive the demand over the forecast period.
Browse full research report on Smart Packaging Market: http://www.grandviewresearch.com/industry-analysis/smart-packaging-market
Further key findings from
the report suggest:
- The global smart packaging industry in terms of
revenue was USD 10.8 Billion in 2015 and is expected to reach USD 26.7
Billion by 2024, recording a CAGR of 10.6% from 2016 to 2024.
- NFC (near field communication) is projected to be the
fastest growing segment within intelligent packaging registering a CAGR of
over 12% from 2016 to 2024. Usage of NFC in the telecom industries is
rising exponentially. Smartphones equipped with NFC which can be paired
with NFC tags or stickers, programmed by NFC apps to automate tasks and
hence, is likely to fuel the growth of smart packaging market over the
forecast period.
- Personal care sector is expected to register a CAGR
of over 10% from 2016 to 2024 accounting for about 9% of the total market
in 2015. Growing demand for personal care products particularly organic
products on account of rising awareness about various health benefits over
their synthetic counterparts is likely to fuel the industry over the
forecast period.
- Automotive segment held a significant share of over
10% in 2015. The industry is expected to grow at a CAGR of around 12% from
2016 to 2024. Growing use of RFID tags in the automotive industry to
improve the production efficiency is expected to drive the demand over the
forecast period. Also, rising use of RFID tags in the automotive industry
for asset tracking and supply chain management is expected to propel the
industry growth.
- Asia Pacific accounted for a significant share
of over 11% in 2015. The ready availability of raw materials coupled with
cheaper manufacturing costs is expected to drive the growth. The region is
also projected to witness growth of over 14% from 2016 to 2024.
- The industry is moderately fragmented with the presence
of a large number of prominent participants across the globe. Some leading
companies operating in the global market include 3M, BASF, Du Pont, Avery
Dennison Corp., Amcor Limited, Sealed Air Corporation and International
Paper. 3M is an American company involved in product development,
manufacturing, and marketing for businesses including industrial, safety
& graphics, electronics & energy, healthcare, and consumer. The
company manufactures a wide range of products which includes abrasives, maintenance,
automotive, materials, films, hand hygiene, home improvement, components,
patient monitoring, personal safety, signs & displays, filtration,
surgical solutions, wire & cable and tapes & adhesives.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/specialty-bio-based-and-water-soluble-polymers
Grand View Research has segmented the smart
packaging market by product, application, and region.
Global Smart Packaging Product Outlook (Revenue, USD
Million, 2013 - 2024)
- Active
Packaging
- Gas
Scavenger
- Corrosion
Control Packaging
- Moisture
Control Packaging
- Intelligent
Packaging
- Time
temperature Indicator
- Gas Indicator
- Thermochromic
Ink
- RFID
& Barcode
- NFC
Global Smart Packaging Application Outlook (Revenue, USD
Million, 2013 - 2024)
- Food
& Beverage
- Healthcare
- Personal
Care
- Automotive
- Others
Global Fire Resistant Glass Regional Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2013 - 2024)
- North
America
- U.S
- Europe
- Germany
- UK
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- Middle
East and Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
