PUBLISHER: Grand View Research | PRODUCT CODE: 1554110
PUBLISHER: Grand View Research | PRODUCT CODE: 1554110
The global smart packaging market size is anticipated to reach USD 43.3 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 6.2% from 2024 to 2030. Rising need for smart packaging products owing to increasing usage in the end use industries such as electronics and automotive on account of its superior protection properties is expected to fuel the growth over the forecast period. Rising industrialization in emerging regions including Asia Pacific and the Middle East is expected to drive the industry over the next eight years.
Increasing application scope in the logistics industry pertaining to the surging use of RFID tags at multiple levels to speed up locating products, and to improve the availability of real-time information coupled with the elimination of record loss is expected to drive the demand over the next eight years. Moreover, rising investment to improve the logistics industry within emerging economies such as China and India are projected to propel the industry growth.
Active Packaging accounted for over 70% of the market in terms of revenue on account of superior corrosion and moisture control properties. Growing use of the product in the automotive sector is likely to drive the demand over the forecast period.