Global Smart packaging Market: Overview
The global Smart packaging market is envisaged to be benefited by the growing health awareness amongst common people. People are opting for healthier options for food and beverages and smart packaging. Traditional packaging systems are lately known to be using toxic materials in their packaging that cause adverse health effects. As a result, more and more people are seen preferring smart packaging which comes with the labels of hygienic and safe. These types of packaging facilitate in the extension of the shelf life, reveal information about quality, and monitor freshness. They are mostly used for pharmaceuticals, foods and other products.
Global Smart packaging Market: Key Trends
The demand for Smart packaging is anticipated to be propelled by the fact that most of manufacturers are increasingly focusing on extending the shelf life of products as demanded by the consumers. Apart from increased shelf life, the smart packaging is also expected to offer traceability, sustainability, and effective handling of issues like counterfeit products. The market could experience a high positive impact due to the emergence of modified atmosphere packaging and intelligent packaging.
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Some of the prominent market trends for this market could be the growing demand for cloud computing, sustainable printed electronics technology, and Internet of Things (IoT). Smart packaging comprise a mixture of science, technology, and specialized materials.
However, there could be some challenges that stunt the growth of the players operating in the global smart packaging market. Smart packaging comes with high cost, which is anticipated to mar its growth worldwide.
Global Smart packaging Market: Market Potential
In a bid to push for adoption of smart packaging by the mass at large, PragmatIC and Talkin’ Things have come together and formed a strategic partnership that is mostly centered on integrated circuits. A smart packaging maker, Talkin’ Things is a key player of the global market for smart packaging. It works with packaging companies and brands and incorporates innovative and advanced technologies that allow them to engage directly with the people via personalized yet original marketing campaigns. They also gauge return on investment (ROI) using a bunch of tools.
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This new partnership is expected to implant flexible integrated circuit of PragmatIC, known as FelxIC onto the packaging of a product. The cost of the same is claimed to be substantially less than that of the silicon-based packaging options which are comparable in nature. As expected by Talkin’ Things, such a move is anticipated to make the mass market segment accessible.
Global Smart packaging Market: Regional Outlook
As per the analysis of the report, the international smart packaging market could see a classification into North America (Canada and US), Western Europe (France, Italy, Germany, Nordic countries, Luxembourg, Netherlands, UK, and Spain), Eastern Europe (Russia and Poland), Middle East and Africa (GCC, North Africa and South Africa), and Asia Pacific (ASEAN, Japan, Australia, New Zealand, China and India). According to the experienced researchers, North America could secure a leading position in the market because of the growing prominence of smart packaging in the region owing to increasing health awareness. Asia Pacific, on the other hand, is anticipated to emerge as a rapidly growing market due to the changing government regulations that call for safer packaging and food.
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Global Smart packaging Market: Competitive Landscape
The worldwide smart packaging market is expected to witness the presence of leading players such as E. I. Du Pont De Nemours and Company, Amcor Limited, Paksense Incorporates, Bemis Company Inc., and Mitsubishi Gas Chemical Co. Market players could take to the adoption of common business strategies, viz. acquisitions, new product launches, and cutting-edge developments, to push up their growth in the market.