Smart Packaging Market

Smart Packaging Market: By Type, Material Type, Technology, Industry, and Region

Market Synopsis:

The global Smart Packaging market was estimated to be valued USD 14.55 Billion in 2022 and is projected to attain a value of USD 35.79 Billion by 2030 at a CAGR of around 11.90% over the forecast period, 2022–2028. Packaging industry has become one of the most important parts of ecommerce, food, and pharmaceutical industries. Thus, it is crucial to ensure that all the products are packed in a proper manner as per the safety standards laid down by international bodies for food packaging. There are many companies involved in providing food packaging testing services as there is a huge demand for such companies. This is because of the growing health and safety concerns among people. Thus, it becomes important to carry out packaging testing in accordance with international standards for food safety and maintain its quality.

Packaging Standardization for Safety and Integrity of Packaged Products to Drive Smart Packaging market

Today's food market is among the most competitive markets in the world. Nowadays, it is essential for manufacturers to have complete control over the quality of their products at all stages of production. The regulatory requirements are also becoming more complex around the world. As a result, packaging testing is becoming increasingly important as manufacturers feel the need to ensure food safety and product quality.

As the packaging industry is becoming more specialized, so are the testing issues involved. This requires specialist knowledge and equipment to handle the complexities of today's products' designs and processes. As a result, it becomes necessary to test food, chemical, and pharmaceutical packages in order to ensure their safety and integrity throughout distribution.

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Market Segmentation:

Global Smart Packaging market is segmented by type (physical, chemical, microbiological), by material (glass, plastic, paper, metals), by technology (physical tests, spectroscopy & photometric-based, chromatography-based), by industry, and region.

By Type, Physical Packaging Testing to Dominate Smart Packaging market

Packaging manufacturers are increasingly implementing improved packaging designs. These new, multi-layered designs demand extensive testing to ensure that the integrity of the pack is not compromised by internal or external forces. This has led to an increased demand for physical testing equipment, including drop testers, pull testers, spectroscopy tools and penetrometers among others. Physical testing equipment is used to give a physical profile of the product. This includes testing for material tension, package integrity, and product shelf life.

By Material, Plastic to Lead Smart Packaging market

Today, plastic is widely used packaging material. This can be attributed to various key benefits it offers such water resistance, stronger than other material, lightweight, higher flexibility in shaping and sizing plastic over other materials. However, with the growing concerns about environment and rising plastic pollution to hamper its demand to some extent. On the other hand, plastic is being increasingly preferred in developing countries around the globe due to its cost-effectiveness, easy availability, and great barrier properties against gas and moisture, among others.

Asia Pacific is the Largest Smart Packaging market

Packaging plays an important role to protect and deliver food or manufactured goods safely. Packaging testing is one of the tools used by quality assurance departments in various industries to ensure product safety for consumers and end users. Asia Pacific is projected to lead the global Smart Packaging market due to strong consumer base and wide scale presence of pharmaceutical, food processing, and e-commerce companies in the region. Wherein, China is holding major share of the market. About 33% of the Asia Pacific's share in the global Smart Packaging market is contributed by China due to the presence of pharmaceutical, food processing and e-commerce companies in China. For instance, Alibaba Group, one of the largest e-commerce firms in China delivers goods through its supply chain network.

Key Players:

Bureau Veritas SA (France), SGS S.A. (Switzerland), Eurofins Scientific SE (Luxembourg), Intertek Group Plc. (U.K.), Mérieux NutriSciences Corporation (U.S.), TÜV SÜD AG (Germany), ALS Limited (Australia), National Technical Systems, Inc. (U.S.), Microbac Laboratories, Inc. (U.S.), EMSL Analytical Inc. (U.S.), and Campden BRI (U.K.).

Smart Packaging Market is segmented as follows:

Smart Packaging Market is tabulated as follows: