Portland, OR, March 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global smart packaging market generated $22.2 billion in 2020, and is projected to reach $38.6 billion by 2030, witnessing a CAGR of 5.5% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Changing lifestyle patterns in emerging countries due to rapid urbanization and increase in consumption of beauty products & cosmetics with packaging advancement technology drive the growth of the global smart packaging market. However, Excessive cost of active and intelligent packaging restrains the growth to some extent. On the other hand, Untapped geographical regions present new opportunities in the upcoming years.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic led to global lockdown, which in turn, negatively impact the global smart packaging market.
- Manufacturing activities were halted or restricted. Construction and transportation activities, along with their supply chains, were hampered on a global level. This, in turn, declined the manufacturing of smart packaging as well as their demand in the market.
The report offers detailed segmentation of the global smart packaging market based on type, end user, material, and region.
Based on end user, the food & beverage segment held the highest market share in 2020, holding more than two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the healthcare segment is estimated to register the highest CAGR of 6.2% from 2021 to 2030.
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Based on material, the solid segment held the largest market share in 2020, holding more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the liquid segment is projected to register the highest CAGR of 5.9% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding one-third of the global aircraft tires market, and is estimated to continue its dominant share by 2030. Moreover, LAMEA region is projected to manifest the fastest CAGR of 7.8% during the forecast period.
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Leading Players:
Leading players of the global smart packaging market analyzed in the research include 3M, Avery Dennison Corporation, Ball Corporation, BASF SE, Crown, International Paper, R.R. Donnelley & Sons Company, Stora Enso, Sysco Corporation, and Zebra Technologies Corp. (Temptime Corporation).
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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