Smithers Pira – Global smart packaging market to grow 7.5%
UK • A new report, The Future of Smart Packaging to 2021, predicts the global smart packaging market value will grow during the five year period to 2021 at an annual rate of 7.5% to EUR 6.9 billion. The report, published by Smithers Pira, said the global active packaging market value is forecast to grow during the five-year period at an annual rate of 4.9% to EUR 5 billion, while intelligent packaging is forecast to grow 18% per annum to almost EUR 1.8 billion.
Smithers’ research shows that brand owners now want usable products, not just a technology or component, that adds real value to their brand, rather than short-term marketing gimmicks. They also want to see active and intelligent packaging developers working together and also collaborating with design houses and packaging manufacturers to provide total finished solutions.
Active packaging is an extension of the protection function of a package and is commonly used to protect against oxygen and moisture. Intelligent packaging is the dynamic and potentially high-growth market with developments in printed electronics, cloud computing and the Internet of Things driving the adoption of intelligent packaging technologies. Active packaging is a relatively mature market in comparison, although there are good growth opportunities for several technologies in niche markets, the report said.