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The intelligent packaging market size is anticipated to reach USD 19,330 million and register a CAGR of 6.20% during the forecast period.
The intelligent packaging market is growing rapidly due to the increasing demand for advanced packaging solutions that can provide real-time information about the condition of the product. Intelligent packaging uses sensors and other technologies to monitor the quality, safety, and freshness of the product and communicate the data to the consumers and retailers. This market is driven by the rising demand for packaged food and beverages, the need for longer shelf life, and the growing awareness of food safety and quality. Major players in the market include Amcor, 3M, and DuPont de Nemours, Inc. The market is expected to continue to grow due to the increasing demand for sustainable and eco-friendly packaging solutions.
The segmental study of the intelligent packaging market is conducted on the basis of application, product, and region. Based on the products, the intelligent packaging market is segmented into corrosion control packaging, moisture control packaging, gas scavengers, QR code, susceptor packaging, and others. The application basis of segmenting the intelligent packaging market consists of automotive, pharmaceuticals, food & beverages, electronics, and others. Based on geography, the intelligent packaging market is segmented by North America, Asia Pacific, the Middle East, Europe, and Africa.
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Detailed Regional Analysis
The regional scrutiny of the intelligent packaging market consists of regions such as North America, Asia Pacific, the Middle East, Europe, and Africa. The North American region is governing the principal portion of the global intelligent packaging market owing to the mounting demand for frozen and packaged food. Furthermore, the changing government policy concerning food and packaging, growing demand for excellence in packaging to make longer shelf life, and center on relatively less food wastage are motivating the intelligent packaging market all over the globe. The contribution of countries such as South Korea, China, and India are expected to lift the intelligent packaging market growth in the Asia Pacific region for the duration of the forecast.
The state of technological development is estimated to be staggered as the development of the global market is at a relative standstill. The weakening of trade channels is projected to present new challenges that have to be overcome expediently in the coming years. The regulations in various regions can be relied upon to rebuild market clout gradually in the future. The establishment of a definite competitive advantage is estimated to spur market development in the forecast period. The inducements offered by the government are expected to display a positive influence on the overall market development in the impending period. The reinvention of the supply chains by integrating robust technology in them is estimated to spur the development of the market in the coming period. The effect of unpredictable events has created substantial barriers that will have to suitably addressed and overcome to achieve normalcy in the global market. The need to invest in building a robust consumer base is estimated to rank on the top priorities of market leaders for the upcoming period.
The notable contenders bolstering the intelligent packaging market are 3M (U.S.), TempTime Corporation (U.S.), PakSense (U.S.), American Thermal Instruments (U.S.), Avery Dennison (U.S.), R.R. Donnelly Sons & Company (U.S.), BASF SE (Germany), International Paper (U.S.), Stora Enso (Finland), Thin Film Electronics ASA (Norway), Huhtamaki Group (Finland), and Smartrac N.V. (The Netherlands)
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This report has covered:
COVID 19 Analysis
Cumulative growth analysis
Value chain analysis
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