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A recent report from the Market Research Store forecasts the global smart packaging market to grow at a CAGR of 6.5 percent, reaching $45.03 billion by 2022. According to the report, changes in consumer lifestyle and food consumption are key factors driving the market growth; and advanced printed technology promises new opportunities for the market.
The report identifies significant R&D costs and lack of sustainable e-packaging products as challenges to the market. The report also highlights “restraint factors” such as limited user awareness.
The report segments the global smart packaging market by technology, industry and geography. It further splits these categories into sub-sections: technology by active packaging, intelligent packaging (IP) and modified atmosphere packaging (MAP); industry by food & beverages, automotive, healthcare, personal care and others; and geography by North America, Europe, Asia Pacific and rest of the world. According to the report, Europe leads the market due to laws encouraging smart packaging.
The report identifies key companies in the market as Amcor Limited, RR Donnelley, Multisorb Technologies Inc., Sealed Air Corporation, Stora Enso OYJ, Huhtamaki Group, Meadwestvaco Corporation and PakSense.