Global “Smart Packaging market” report also concentrates on the development tendencies as well as history, competitive landscape evaluation, growth, key players, and key regions, etc. from the global Smart Packaging industry.
Smart Packaging market report is made by our industry experts to understand the worldwide Smart Packaging production, growth rate, consumption, market share, production volume, price, gross margin, and revenue. Our industry experts give the overview of the market by past, present, future demands and opportunities which helps the stakeholders and individuals interested in Smart Packaging.
The global Smart Packaging market to grow ata CAGR of over 8% during the period 2019-2023.
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Our smart packaging market analysis considers sales from food and beverage, healthcare, personal care, automotive, and other end-users across APAC, Europe, North America, South America, and MEA. In 2018, the food and beverage segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing demand for high-quality and safe food products and product innovation will play a significant role in the food and beverage segment to maintain its market position.Also, our global smart packaging market report looks at factors such as growing demand for product quality and freshness, increase in demand for printed electronics, and product launches across industries. However, costs involved in shifting to the smart packaging business model, security and data privacy issues, and stringent regulations may hamper the growth of the smart packaging industry over the forecast period.
Key Manufacturers Includes:
MARKET DYNAMICS:Market Driver:Growing Demand For Product Quality And Freshness.Market Trend:Increasing Demand For Product Traceability In Pharmaceutical IndustryMarket Challenge:Costs Involved In Shifting To The Smart Packaging Business Model.Growing demand for product quality and freshnessThe ability of smart packaging to protect products during distribution, storage, sale, and use is a major factor that will drive the global smart packaging market during the forecast period.Smart packaging provides enhanced functionalities such as moisture control and active packaging. These functionalities indicate the status or communicate product changes and other information to the consumers. With the increase in urbanization, consumers’ expectation of the packaged products is also evolving. The demographic changes have influenced customers to prioritize products’ quality and freshness over their costs. This demand for product quality and freshness will lead to the expansion of the global smart packaging market at a CAGR of over 8% during the forecast period.Increasing demand for product traceability in the pharmaceutical industryThe increasing demand for product traceability is the latest trend in the global pharmaceutical industry as it faces the burgeoning issue of drug counterfeiting and imitation. Drug counterfeiting has existed since decades, and the situation has worsened due to the proliferation of Internet sales, inefficient supply chain, and a general lack of stringent regulations in the global pharmaceutical industry. The product traceability feature is likely to be adopted in smart packaging solutions, which helps in product serialization across the pharmaceutical supply chain. Smart packaging is expected to incorporate extensive drug serialization technologies such as RFID and 2D barcodes. This development is expected to have a positive impact on the overall market growth.
Geographical Regions Includes:
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Detailed TOC of Smart Packaging Market Report:
PART 01: EXECUTIVE SUMMARY PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY END-USER
PART 07: CUSTOMER LANDSCAPE PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
PART 15: EXPLORE
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Key Questions Answered in Smart Packaging Market Report: –
Name: Ajay More
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To view the original version on The Express Wire visit Global Smart Packaging Market by 2023 Analysis by Size, Shares, Growth, Segmentation, Regions, & Top Players