Global smart packaging market to cross US$45 bln with 6.5% CAGR forecast to 2022

28-Dec-16

The Global Smart Packaging market is accounted for US$27.2 bln in 2014 and is expected to grow at a CAGR of 6.5% to reach US$45.03 bln by 2022, as per Stratistics MRC. The challenge of the market includes High R&D costs and lack of sustainable E-Packaging products. Advancement in printed technology is the opportunity that reside the market growth. Limited user awareness, High rate and accessibility are the restraint factors for Smart Packaging. The key drivers include change in consumer lifestyle, Food consumption and demand for smart Packaging.

Global Smart Packaging market is mainly segmented by Technology, by Industry and by Geography. Based on Technology, market is segregated into Active Packaging, Intelligent Packaging (IP) and Modified Atmosphere Packaging (MAP). Based on Industry, market is classified into Food & Beverages, Automotive, Healthcare, Personal Care and others. Smart Packaging market, by geography is segmented into North America, Europe, Asia Pacific and Rest of the World. Europe has the leading market as the laws favor for Smart Packaging market. The key players in the Smart Packaging market include, BASF SE, E. I. Du Pont De Nemours and Company, Amcor Limited, RR Donnelley, Multisorb Technologies Inc., Sealed Air Corporation, Stora Enso OYJ, Huhtamaki Group, Meadwestvaco Corporation and PakSense.