The global smart tag packaging market is poised for significant growth in the coming years, as per Future Market Insights’ research findings. Starting at a valuation of US$ 8.6 billion in 2022, this market is expected to exhibit a robust CAGR of 10.1% through 2032, reaching an impressive US$ 22.6 billion by the end of the forecast period.
One notable trend in this market is the concentration of revenues within the top three countries, which are anticipated to collectively contribute to 30-35% of the global smart tag packaging market by the close of 2022. This highlights the importance of regional markets in the industry’s expansion.
Furthermore, the bags & pouches segment within the smart tag packaging market is set to play a pivotal role, projected to hold a substantial portion, accounting for approximately 19% of the market value share by the conclusion of the forecast period. This underscores the growing significance of smart tag packaging in enhancing the functionality and appeal of bags and pouches across various industries, including retail and logistics.
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The advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Smart Tag Packaging
With rising environmental concerns and the implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Smart Tag Packaging market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Smart Tag Packaging Market Takeaways and Projections
- The U.S. is expected to lead the North America Smart Tag Packaging market, projecting the fastest growth in the region between 2022 and 2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
Report Benefits & Key Questions Answered
- Smart Tag Packaging Historical Market Analysis: The detailed survey by FMI, examines key factors in the Smart Tag Packaging market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Smart Tag Packaging market for the forecast period 2022-2032.
- Smart Tag Packaging Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Smart Tag Packaging for the assessment period. As per the study, the demand for Smart Tag Packaging will grow at a robust CAGR between 2022 and 2032.
- Smart Tag Packaging Market Trend Analysis: The latest study by FMI on the Smart Tag Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Smart Tag Packaging market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Smart Tag Packaging Market by Category
By Technology:
- Quick-response (QR Codes)
- Barcodes
- Radio Frequency Identification (RFID)
- Near Field Communications (NFCs)
- Bluetooth Low Energy (BLE)
By Application:
- Bottles & Jars
- Blisters
- Trays & Clamshells
- Cans
- Boxes & Cartons
- Vials, Ampoules, & Prefilled Syringes
- Bags & Pouches
- Films & Wraps
- Mailers
- Labels, Tapes, & Tags
By End Use:
- Food & Beverage
- Healthcare
- Cosmetics & Personal Care
- Shipping & Logistics
- Other Consumer Goods
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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