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The global intelligent packaging market size is forecast to reach US$ 23.6 billion in 2023. Global intelligent packaging sales will increase at 9.0% CAGR between 2023 and 2033. By the end of 2033, total market valuation is likely to reach US$ 56.0 billion.
Rising demand for next-generation packaging from various sectors will drive the market forward. Rising need for improving consumer engagement is likely to propel intelligent packaging demand.
Since its development, intelligent packaging has gained immense traction worldwide. It allows end users to monitor the conditions of packaged goods. Rising awareness about the benefits of intelligent packaging will boost sales.
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Rising awareness has resulted in changes in consumer perception and buying behavior. Modern consumers are more curious about proper packaging of every product they buy. This is encouraging companies to use intelligent packaging for their products.
Implementation of strict government laws about packaging and coding will fuel demand. Products that don’t meet specific packaging standards have lost their relevance.
Evolution of the modern-day retail industry is also creating demand for intelligent packaging. Retailers prefer intelligent packaging because it facilitates inventory management.
Global retail giants are the pioneers in the adoption of intelligent packaging. This smart and interactive packaging enables them to improve consumer engagement. Growing adoption by small and large-sized retailers will further boost intelligent packaging sales.
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Key Takeaways from Intelligent Packaging Market
“Intelligent packaging is becoming a new norm in the global packaging industry. It provides seamless tracking, tracing, and monitoring features. Rising focus on enhancing consumer engagement with products will elevate intelligent packaging demand.” says an FMI analyst.
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Increased Consumption of Ready-to-Eat Foods and Evolving Nanotechnology to Offer Profitable Expansion Potential
In recent years, demand for ready-to-eat meals and packaged foods has surged. This is due to their more convenient nature. Food and beverages are being packaged in such a way that consumers can consume them at their convenience.
Various types of intelligent packaging are being adopted in the food industry. This includes anti-microbial packaging.
Antimicrobial packaging consists of packaging materials that possess biological properties. This packaging type restricts the growth of harmful bacteria inside the package. Anti-microbial packaging prevents the consumables from spoiling.
Further, introduction of nanotechnology in food packaging has enabled key players to pack their offerings in high-barrier packaging materials. Nanotechnology also enables better detection of contaminants in packages. This will impact intelligent packaging market development.
Who is Winning?
Key manufacturers of intelligent packaging include Amcor plc, Crown Holding Inc., 3M Company, CCL Industries Inc., Huhtamaki Global, DS Smith, Avery Dennison Corporation, Honeywell International Inc., Tetra Pak International S.A., Sealed Air Corporation, Stora Enso Oyj, WestRock Company, Ball Corporation, and Mondi Plc.
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Get More Insights into Intelligent Packaging Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global intelligent packaging market, analyzing historic demand from 2015 to 2022 and forecast analysis from 2023 to 2033.
The study reveals growth projections on the intelligent packaging market based on technology (indicators [gas & integrity indicators, freshness indicators], sensors, interactive packaging/data carriers [quick-response (QR Codes), barcodes, radio frequency identification (RFIDs), near field communications (NFCs) and bluetooth low energy (BLE)], active packaging [oxygen scavengers, ethylene absorbers, moisture scavengers and anti-microbial packaging]), level of packaging (primary packaging, secondary packaging and tertiary packaging), application (bottles and jars, blisters, trays & clamshells, cans, boxes & cartons, vials, ampoules, & prefilled syringes, bags & pouches, films & wraps, mailers, and labels, tapes, & tags), and end use (food [meat, poultry, & seafood, fruits & vegetables, dairy products, bakery & confectionary, processed food, ready to eat food, and other food products], beverage, healthcare [medical devices, medical supplies, pharmaceuticals], cosmetics, logistics & transport, consumer electronics , personal care & homecare and other consumer goods), across seven regions.
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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The post Global Intelligent Packaging Market Analysis and Forecast for Active and Smart Packaging Solutions in Food, Beverage, and Healthcare Industries 2023-2033 appeared first on Future Market Insights.