February 15, 2022 03:20 ET | Source: Vantage Market Research Vantage Market Research

WASHINGTON, Feb. 15, 2022 (GLOBE NEWSWIRE) -- The Global Smart Packaging Market size is expected to reach over USD 33.00 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 12% during the forecast period from the year 2021 till 2028. The said market stood at a revenue of USD 13.88 Billion in the year 2021.

Increasing smart packaging use to expand the shelf life as well as traceability of food items is likely to see a positive impact on industry growth overall in the coming years. Smart packaging is an amalgamation of science, technology, and specialized materials that improves the packaging functionality by engineering intelligent and active packaging in traditional packaging. It also helps to prevent spoilage of food, improve food product nature such as taste, flavor, and aroma and it helps in premium pricing, brand protection, and waste reduction further, states Vantage Market Research, in a report, titled “Smart Packaging Market by Technology (Physical Tests, Spectroscopy & Photometric-Based, Chromatography-Based), by End-user Vertical (Food, Beverage, Healthcare, Personal Care), by Region (North America, Europe, Asia Pacific, Middle East & Africa), by Type (Physical, Chemical, Microbiological), by Material (Glass, Plastic, Paper, Metals) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

Click Here To Access The Free Sample Report @ https://www.vantagemarketresearch.com/smart-packaging-market-1300/request-sample

(The Free Sample Of This Report Is Readily Available On Request).

Our Free Sample Reports Includes:

(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)

List of Prominent Players in the Smart Packaging Market:

Driver: Increasing Need for Eco-Friendly Products

Increasing need for eco-friendly sustainable goods on account of rising demand from pharmaceutical and food & beverage industries is likely to drive the market over the next decade. Also, increasing Research and Development (R&D) investment to minimize the carbon footprint is expected to drive growth in the coming years. Furthermore, increasing demand for ready to serve and eat food products due to changing the lifestyle of the urban population is expected to have a good impact over the forecast period.

Moreover, a recent shift like growing use of wireless technologies coupled with smart packaging in the food & beverage sector to provide users with real-time conditions of the perishable items is expected to fuel the industry demand. Additionally, increasing use of smart packaging in the healthcare and pharmaceutical industry on account of its improved flexibility, lightweight, and durability properties is expected to drive market growth.

Purchase This Premium Report Now @ https://www.vantagemarketresearch.com/buy-now/smart-packaging-market-1300/1

Benefits of Purchasing Smart Packaging Market Reports:

Restraint: High Prices of Raw Material for Manufacturing Flexible Plastics

However, high cost of intelligent and active packaging is likely to hinder the market growth for smart packaging globally. Huge raw material costs for manufacturing flexible plastics are expected to hinder the market growth in the coming years. Increasing investment in emerging intelligent packaging with sensing equipment such as RFID (radio-frequency identification), NFC (near-field communication), and smart labels is likely to create fresh opportunities for sector development in near future.

Moreover, huge cost of capital for security issues, instalment, new techniques for fabricating like, indicators and sensors which are compatible with recent packaging standards and knowledge among people are key challenges and restraints for the market growth.

Asia Pacific is expected to account for the largest share of the Smart Packaging market across the globe. The U.S. occupies the biggest share of the market value in the region, followed by Canada. The rising demand for improved and interactive packaging solutions, rising working population account for the anticipated growth in the Smart Packaging market in the region.

The food and beverage demand has increased markedly, owing to the rising population (both, from within and due to immigration). To meet the extensive demands of the food sector, there has been a substantial rise in the volume of the imported food from several regions globally, thus, fuelling the demand for the market in the region.

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/smart-packaging-market-1300

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Smart Packaging Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

The report on Smart Packaging Market highlights:

Key questions answered in the report:

Speak To Analyst: https://www.vantagemarketresearch.com/smart-packaging-market-1300/contact-analyst

This market titled “Smart Packaging Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:

The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

Download Free Sample Report Now @ https://www.vantagemarketresearch.com/smart-packaging-market-1300/request-sample

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.

Follow Us on LinkedIn: https://www.linkedin.com/company/vantage-market-research/

Follow Us on Twitter: https://twitter.com/vantagemarketr

6218 Georgia Avenue NW Ste 1 - 564

Website: https://www.vantagemarketresearch.com/

Latest Vantage Market Research Press Releases @ https://www.vantagemarketresearch.com/insight/press-releases

Latest Vantage Market Research Blog @ https://www.vantagemarketresearch.com/insight/blogs