Wilmington, Delaware, United States, Transparency Market Research. Inc. , July 01, 2024 (GLOBE NEWSWIRE) -- The smart food packaging market was projected to attain US$ 4.8 billion in 2023. It is likely to garner a 5.8% CAGR from 2024 to 2032, and by 2032, the market is expected to attain US$ 8.0 billion.
Active packaging involves materials that interact with the food to extend its shelf life, while intelligent packaging uses sensors and indicators to provide information about the condition of the food. Both types are gaining popularity. The rise of e-commerce and online grocery shopping is driving the need for smart packaging that can ensure the safe and fresh delivery of food products over longer distances.
There is an increasing trend towards customized and personalized packaging solutions that cater to specific consumer needs and preferences, such as dietary restrictions and individual portion sizes. Collaborations between packaging companies, food manufacturers, and technology providers can lead to the development of more advanced and efficient smart packaging solutions.
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Developing biodegradable and edible smart packaging materials can open up new markets and attract environmentally conscious consumers. Government initiatives to promote food safety, reduce food waste, and support sustainable practices can boost the adoption of smart packaging solutions.
Key Findings of Market Report
- Smart labels, which can change color or display information based on the condition of the food, are becoming more popular. They help consumers easily identify the freshness and safety of food products.
- There is a growing trend towards reducing food waste at all levels of the supply chain. Smart packaging can help by providing better inventory management and real time condition monitoring.
- Continued advancements in sensor technology are creating opportunities for more precise and cost effective smart packaging solutions. Improved sensors can monitor a wider range of conditions, such as temperature, humidity, and gas levels.
- There is potential for crossover innovation where smart food packaging technologies are adapted for pharmaceutical products, ensuring better compliance and safety in medication usage.
Market Trends for Smart Food Packaging
- By material, the bioplastics segment is expected to boost the growth of the smart food packaging market.
- Growing consumer awareness and preference for eco-friendly products are driving demand for sustainable packaging options. Bioplastics resonate with environmentally conscious consumers who seek packaging solutions that minimize carbon footprint and plastic waste.
- By packaging format, the flexible packaging segment is anticipated to augment the growth of the market.
Global Market for Smart Food Packaging: Regional Outlook
North America
- There is a heightened emphasis on food safety in North America, with growing concerns about foodborne illnesses and contamination.
- Smart food packaging offers solutions such as temperature monitoring, freshness indicators, and tamper evident seals, enhancing consumer confidence in the safety and quality of packaged food products.
- North American consumers have a strong preference for convenient food options that fit their busy lifestyles.
- Smart packaging technologies, such as resealable pouches, microwaveable containers, and portion controlled packaging, cater to the demand for convenience, driving market growth.
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Asia Pacific
- The Asia Pacific region is experiencing a surge in e-commerce adoption, driven by factors such as increasing internet penetration, smartphone usage, and convenience seeking behaviors.
- Smart packaging solutions tailored for e-commerce, such as tamper evident seals, temperature controlled packaging, and personalized packaging options, cater to the unique requirements of online food retail and drive market growth.
- Governments in Asia Pacific countries are implementing regulations and initiatives to improve food safety standards, reduce food waste, and promote sustainable packaging practices.
- Compliance with regulations such as food labeling requirements and packaging material standards encourages the adoption of smart packaging technologies that enhance traceability, sustainability, and safety.
Smart Food Packaging Market: Key Players
The smart food packaging market is experiencing robust growth due to increasing consumer demand for safer, more sustainable, and longer lasting food products. Smart packaging technologies, including active packaging, intelligent packaging, and modified atmosphere packaging, are being widely adopted to enhance food quality, safety, and shelf life. The following companies are well known participants in the smart food packaging market:
- Amcor Plc
- Uflex Limited
- Sonoco Products Co
- Ball Corporation
- Tetrapak Inc.
- CCL Industries Inc
- Timestrip Plc
- Crown Holdings Inc
- Vitsab International AB
- Varcode Ltd
- Others
Key Developments
- In 2023, Amcor PLC, a global leader in responsible packaging solutions, announced the signing of a definitive agreement to acquire ModaSystems. ModaSystems specializes in manufacturing advanced automated protein packaging machines, developing, assembling, and supporting innovative, high performance modular vacuum packaging solutions for the meat, poultry, and dairy industries.
- In the same year, Avery Dennison Corporation unveiled the latest updates to its Atma.io connected product cloud, designed to help brands revolutionize their supply chains. The platform manages over 28 billion items across various sectors, including food, apparel, retail, and healthcare.Top of Form
Smart Food Packaging Market Segmentation
Material
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Bioplastics
- Others (PA, EVOH, etc.)
- Paper
- Metal
- Steel
- Glass
Packaging Format
- Rigid Packaging
- Corrugated Boxes
- Folding Cartons
- Bottles & Jars
- Cans
- Trays & Clamshells
- Cutlery
- Flexible Packaging
- Bags & Sacks
- Films & Wraps
- Pouches
- Sachets & Stick Packs
- Collapsible Tubes
Technology
- Time Temperature Indicators (TTI)
- Freshness Indicators
- Oxygen & Carbon Dioxide Indicators
- Barcode Labels
- RFID Tags
- QR Code Labels
End Use
- Meat, Poultry & Seafood
- Fruits & Vegetables
- Dairy Products
- Bakery & Confectionery
- Sauces & Condiments
- Jams & Jellies
- Snacks
- Edible Oil
- Processed Food Products
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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