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Smart Packaging Market Trends

  • Report ID: GMI11007
  • Published Date: Aug 2024
  • Report Format: PDF

Smart Packaging Market Trends

The packaging industry is increasingly embracing eco-friendly materials as part of its sustainability efforts. Companies are replacing traditional plastics with biodegradable, recyclable, and compostable alternatives in response to growing consumer demand and stricter environmental regulations. Innovations include plant-based materials such as bioresins and recycled paper, which help reduce carbon footprints and minimize waste. This shift highlights the industry's commitment to aligning with global sustainability goals and meeting consumer expectations for environmentally responsible products.
 

Closed-loop recycling systems are gaining traction as companies work to create a circular economy in packaging. These systems focus on reusing and recycling materials to minimize waste and conserve resources. Investments in advanced technologies for efficient collection, sorting, and processing of packaging materials are enabling their reintegration into the production cycle. This approach not only reduces environmental impact but also enhances resource efficiency and lowers costs. Embracing closed-loop systems supports greater sustainability and long-term environmental stewardship in industry.
 

For instance, in September 2023, the World Packaging Organization (WPO) and the Active & Intelligent Packaging Organization (AIPIA) signed a Memorandum of Understanding (MoU) to collaborate on promoting sustainable smart packaging. This partnership aims to enhance material science in active packaging and support innovations in sustainability, aligning with global industry goals.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size for smart packaging was valued at USD 21.3 billion in 2023 and will exhibit over 8% CAGR between 2024 and 2032, driven by the demand for product safety and extended shelf life.

The smart packaging market from the intelligent packaging segment is expected to register over 10% CAGR during 2024-2032, bolstered by rising demand for more interactive and informative packaging solutions.

North America market captured over 35% share in 2023, led by advanced technological infrastructure and high levels of innovation.

Amcor Plc, Avery Dennison Corporation, BASF SE, DuPont, Sealed Air, Smurfit Kappa Group plc, and Thin Film Electronics ASA.

Smart Packaging Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 24
  • Tables & Figures: 554
  • Countries covered: 21
  • Pages: 210
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