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According to the recent report published by Allied Market Research, titled, Smart Packaging Market: Global Opportunity Analysis and Industry Forecast, 2014-2022, the global smart packaging market size is estimated to reach $37,797 million by 2022, registering a CAGR of 7.8% from 2016 to 2022. Europe constitutes around 33.6% share in the global smart packaging market and is expected to remain dominant throughout the analysis period, registering a notable CAGR of 6.9%.
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Changes in lifestyle patterns due to rapid urbanization, particularly in emerging economies and growth in consumption of beauty products with advancement in technology drive the growth of the smart packaging market. In addition, the untapped geographical regions offer potential opportunities for the smart packaging market with the growth in hygiene concerns among consumers in these regions. However, high cost of active and intelligent packaging system is expected to hamper the global smart packaging market growth.
Healthcare or pharmaceutical industry and the medical packaging have witnessed quite a notable growth along with advances in technology. The integration of barcodes, RFID tags, or sensors is highly useful within the industry as it monitors authenticity of medicines and provides the patients, pharmacists, and other healthcare professionals with details about the expiry date, consumption, and dosages. In addition, smart packaging industry helps the healthcare sector to deal with challenges such as counterfeit and patient compliance, thereby providing complete security. Thus, this sector is projected to exhibit the fastest growth rate during the forecast period and hence increase the smart packaging market size.
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The types of the smart packaging industry are active packaging, intelligent packaging, and modified atmosphere packaging. The personal care segment was the second-highest industry owing to growth in counterfeit concerns in cosmetics or personal care industry. Many of the multinational companies have initiated to integrate smart coding within the product. The smart coding technology will prevent counterfeit and provide authenticity to the product.
The smart packaging system is also expected to deliver value to technologically savvy consumers, such as tracking environmental conditions, monitoring freshness, and usage indicators.
Asia-Pacific is expected to grow at the highest CAGR of 9.1% owing to the increase in urbanization and change in lifestyle of consumers in the developing countries, such as China, India, and Thailand. This is also responsible for increase in demand for smart packaging market in the region. However, Middle East is the second fastest growing region due to rise in per capita income of consumers, thereby resulting in high expenditures automotive, healthcare, personal care, and retail industry
Key Findings of the Smart Packaging Market:
- LAMEA is projected to be the second fastest growing region in the global smart packaging market, in terms of revenue, registering a CAGR of 8.5% during the forecast period.
- Intelligent packaging systems witnessed significant growth in global smart packaging market in 2015, and is anticipated to grow at the highest CAGR of 9.6%.
- Thermochromic ink in intelligent system, was the highest revenue contributor to the smart packaging market with 46.4% share in 2015, and is expected to maintain its dominance throughout the forecast period.
- Gas scavenger in active packaging, is the fastest growing system witnessing a considerable CAGR of 10.5%.
- Healthcare industry is the fastest growing smart packaging industry segment, registering a CAGR of 10.0% during the forecast period.
- The key smart packaging industry players profiled in the global smart packaging market report include 3M, TempTime Corporation, PakSense, American Thermal Instruments, Avery Dennison Corp., R.R. Donnelly Sons & Company, BASF SE, International Paper, Stora Enso, and Thin Film Electronics ASA.
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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. 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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Light Emitting Diode Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $42.7 billion by 2020, registering a CAGR of 13.5% during the period 2014-2020. Asia Pacific commands dominance of the LED technology market. The region houses approximately 3/4th of the global electronics manufacturing industries. North America, due to its high-tech forensic and medical applications leads the market for UV LEDs.
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After the grand success of the CFL lights, light emitting diode is the next buzzing technology in the general lighting industry. Absence of hazardous liquid mercury and power efficiency has allowed LED to successfully penetrate the market and has outdone CFL lighting in the commercial market. It is anticipated that LED lights would command about 20% share of the global lighting market by 2020. This will be equivalent to 2/3rd of the revenue for LED. However, the demand for basic LED in backlighting applications would decline as OLED broadens its horizon of applications and would eventually supersede basic LED based mobile displays.
UV LED primarily finds its application in medical treatments and forensic tests. UV LED technology anticipates further development as companies are rigorously working out acquisitions to expand their product portfolio and applications. In January 2013, Noblelight acquired Fusion UV, manufacturer of UV LED technology to enhance their UV LED product features. Developed regions, though, are early adopters of the UV LED technology; the healthcare sector in developing regions such as Asia Pacificis also contributing to the growth of the technology. The growing medical tourism and lower cost of treatments will strengthen the adoption of UV LED technology in developing regions.
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Foreseeing great environmental benefits and energy saving capabilities government across the globe are implementing LED lighting in most of the public settings. The U.S. government has already started replacing the conventional street lights with LED’s, which is anticipated to complete by the end of 2014. Such developments are and will be instrument in the growth of the LED technology market. “The growth in revenue will be slower than the rise in unit sales of LEDs due to the constantly declining price of LEDs; however, the overall market would grow at a constant pace due to growing demand for LEDs and expanding applications” states AMR analyst Ranjan Singh. “Continuous development in the technology suggests huge underlying potential for OLEDs during the forecast period,” adds the analyst citing the recent rollouts of OLED mobile handsets by Samsung and Nokia. High brightness (HB) LEDs hold nearly 60% of the market share as it can provide much brighter light with lower voltages as compared to other market alternatives. The rapid growth in 4K TV segment suggests that HB LED will continue to hold the key to the growth of LED technology market. Major companies such as Samsung SDI and RIT Display are investing substantially on the development of advanced OLED display technologies.
Machine Learning Chip Market Report, published by Allied Market Research, states that the machine learning chip market was valued at $4,495 million in 2015 and is projected to reach $8,272 million by 2022, growing at a CAGR of 9.4% from 2016 to 2022. The Neuromorphic Chip segment held nearly 30% of the total market in 2015.
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Machine learning chip is widely used across the applications such as robotics, healthcare, automotive, and consumer electronics. At present, rising demand for automated electronic devices and trending Artificial Intelligence (AI) are some factors that majorly drive the market. Moreover, popularity of Internet of Things (IoT) is expected to provide lucrative opportunities to market players.
The Neuromorphic Chip segment is projected to maintain its lead in the global machine learning chip market, as this type is used in various electronics applications such as gaming, driverless vehicles, drones & air transport, security & cyber security, speech, and image recognition. Moreover, Flash based Memory Chip is expected to grow owing to its stability and enhanced performance.
Among applications, robotics industry segment dominated the global market in 2015, accounting for about 52% share. Trending artificial intelligence (AI), diversified application areas, and improved productivity fuel the market growth. However, consumer electronics segment is expected to grow at the highest CAGR of 13.1% during the forecast period due to increase in demand for automated electronic devices.
North America was the major revenue contributor in 2014, and is expected to maintain its dominance throughout the forecast period. This is attributed to the increase in number of automated medical devices and automated robots. Moreover, developments in consumer electronics and aerospace & defense is projected to boost the growth of the machine learning chip market, especially in the Asian countries, such as China, Japan, South Korea, and India.
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LAMEA is projected to be the fastest growing region during the analysis period, owing to increase in demand for automated machinery, and rise in the adoption of machine learning chip in automotive and healthcare sectors. Moreover, technological advancements to overcome complexity of the circuit is expected to offer lucrative opportunities for market players in the near future.
Key findings of the Machine Learning Chip Market:
- In 2015, Neuromorphic Chip segment dominated the global machine learning chip market in terms of revenue, and is projected to grow at a CAGR of 7.7% during the forecast period.
- Flash based Memory Chip segment is expected to exhibit the fastest growth during the forecast period, owing to increase in applications such as medical devices and super computer.
- Robotics industry segment dominates the global machine learning chip market, accounting for about 52% share in 2015.
- China is the major shareholder in the Asia-Pacific machine learning chip market, accounting for about 42% share.
The key players operating in the machine learning chip market adopt new product launch as their preferred strategy to expand their market foothold. The major players profiled in this report include Advanced Micro Devices, Inc., Google Inc., Graphcore, Intel Corporation, International Business Machines (IBM) Corporation, Nvidia Corporation, Qualcomm Technologies, Inc., Taiwan Semiconductor Manufacturing Company Ltd., Wave Computing, and XILINX Inc.
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Global Rigid Packaging Market Report, published by Allied Market Research, projects that the global market was valued at $496.72 billion in 2016, and is expected to reach $729.14 billion by 2023, growing at a CAGR of 5.8%. The food & beverage segment is expected to dominate the end-user sector from 2016 to 2023. Asia-Pacific region dominated the rigid packaging market with 44.9% of the share in 2016.
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Rigid packaging generally includes packaging through materials such as glass, plastics, metal and paper & paperboards. All of these materials are used for packaging at varying degrees and give protection to the products. Almost all the rigid packaging material are strong, the strength to the packaging is provided by the amount of the material used in the production. The global rigid packaging market growth is largely driven by increasing consumer goods demand, improving packaging recycling rates, and low cost of rigid plastic packaging. However, the rigid packaging market growth is restrained by factors such as increasing adoption of flexible packaging materials, Eurozone economic uncertainty, fluctuating raw material prices and stringent regulations.
The global rigid packaging market is segmented based on material type, end-user industry and geography. By material type, the rigid packaging market is categorized into plastics, metal, paper & paperboard, glass and others. The rigid plastics segment was the most dominant material type in 2016 accounting for 39.1% of the overall market. High adoption of rigid plastics for packaging is due to their low weight, maintaining freshness of the product, reduced breakage and low cost. The market for rigid plastics packaging is expected to grow at a CAGR of 6.9% during the forecast period largely driven by increasing demand from fresh food & beverages, home & personal care goods, and pharmaceutical industries. The fastest growing material type in the global rigid packaging market is the others segmented which comprises of bioplastics and wood. Bioplastics are made from biodegradable feedstock, which enables them to degrade into the soil similar to other organic matter. The high growth for bioplastics in packaging is due to their rising awareness among the global population and their replacement with conventional plastics.
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The global rigid packaging market based on end-user industries has been classified into food & beverages, pharmaceuticals, personal care and others. The food & beverage segment dominated the rigid packaging market accounting for $308.1 billion in 2016. Rigid packaging plays a key role in food and beverage industry as these packaging material provide longer shelf life to the food items. Rigid packaging products includes bottles, cans, ampules, aerosol containers, aluminum bottles and jars among others. In comparison to other packaging type, rigid packaging containers provide unique benefits such as high impact strength, high stiffness and high barrier properties. The fastest growing end user industry for rigid packaging market is the pharmaceutical industry segment which is expected to grow at a CAGR of 7.9% during the forecast period 2017-2023. Growth in the pharmaceutical rigid packaging market is driven primarily by the Chinese, US, Japanese and European market.
Geographically, the rigid packaging market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the most dominant geographical market for rigid packaging in 2016, which accounted for $223.02 billion. The dominance of the Asia-Pacific region is due to the presence of large number of food & beverage and personal care product manufacturers in the region. High economic growth rate and huge population in emerging markets of China and India are the major drivers for the rigid packaging market in Asia Pacific.
Key Findings of the Global Rigid Packaging Market
- Rigid metal packaging market accounted for $72.95 billion in 2016, and is expected to grow at a CAGR of 3.7% during the forecast period.
- Pharmaceutical rigid packaging market is expected to grow at a CAGR of 7.9%.
- Personal care end-user segment is expected to register a CAGR of 6.5% during the study period.
- Asia-Pacific is expected to grow fastest, registering a CAGR of 6.9%.
The key players in the rigid packaging market focus on collaborations, partnerships, and product developments to remain matai a strong foothold in the market. The major players operating in the rigid packaging market include Amcor Limited, Ball Corporation, Bemis Company, Inc., Berry Plastics Corporation, DS Smith PLC, Georgia-Pacific Corporation, Holmen AB, Plastipak Holdings Inc., Reynolds Group Holding and Tetra Pak International.
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Packaging Machinery Market Report, published by Allied Market Research, projects that the global market size was valued at $39,647 million in 2016 and is projected to reach $62,063 million by 2023, growing at a CAGR of 6.7% from 2017 to 2023. The filling machines segment accounted for the maximum share in 2016 and is likely to remain dominant during the forecast period.
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The demand for packaging machinery is largely driven by the increasing demand for consumer goods, increasing adoption of automated packaging machines, and development of energy efficient machines. Modern automated packaging machines are used in different stages of packaging and ensure that the stages are completed in minutes rather than hours compared to the older versions. The other key factor driving the global packaging machinery market is the increasing demand for packaging robots from several end-user industries. Packaging machines play a vital role in ensuring the product safety throughout the supply chain.
Packaging machinery is used in packaging medical products and helps in maintaining the stability of drugs and maintains their shelf life. IMA S.p.A. and Robert Bosch GmbH are the major manufacturers of pharmaceutical packaging equipment. Blister packaging machines, counting machines, tube filling & sealing machines, carton machines, case packaging machines, and labeling machines are the major machinery used in the pharmaceutical packaging market. Thus, the packaging machinery in the pharmaceutical industry is likely to exhibit a notable growth by 2023. In addition, the growing demand for attractive and innovative packaging in the food and cosmetics industry is expected to bolster the demand for packaging machinery.
The end user industries are increasingly shifting towards sophisticated, integrated, and standardized equipment to comply with environmental standards and reduce packaging waste. The global food & beverage industry is expected to grow at a notable rate over the forecast period. Majority of this demand is expected from emerging countries due to the rise in consumer income, demand for ready-to-eat packaged food, and improvement in living standards. This has increased the demand for packaged food worldwide, which in turn offers lucrative market opportunities for the packaging machinery market. The fastest growing end user industry for the packaging machinery market is the cosmetics industry segment, which is expected to grow at a CAGR of 7.9% and is forecast to reach $3,274 million by 2023.
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Wrapping machines are the second fastest growing segment in the global packaging machinery industry. The majority of the growth in the market is expected to be witnessed from the emerging regions of Asia-Pacific and Africa. Factors such as increase in demand for fresh food & beverages, home & personal care goods, and pharmaceutical industries; and growth of the retail industry have driven the global wrapping packaging machineries market. However, labeling machines are likely to show a notable growth during the forecast period, owing to a rise in demand for customized packaging and government regulations for providing packaging labels on the products.
Asia-Pacific accounted for the highest share in the global packaging machinery industry in 2016, and is expected to maintain its dominance throughout the forecast period, owing to existence of wide array of food & beverage and personal care product manufacturers in the region. The region is anticipated to grow at the highest rate in the near future, owing to high economic growth rate and high demand in emerging markets of China and India. North America and Europe are among the more mature markets for packaging machinery as these are developed regions with the presence of a large number of players operating in the market.
Key findings of the Packaging Machinery Market:
- The food & beverage sector was the highest revenue generating market in 2016, and is projected to grow at a CAGR of 6.6% during the forecast period.
- Cleaning & sterilizing machine is expected to grow at a significant CAGR of 8.4% owing to growing focus on cleanliness and hygiene in the food & beverages, cosmetics, and pharmaceutical industries.
- China is the major shareholder in the Asia-Pacific packaging machinery market, accounting for more than half share in 2016.
The key players focus on expanding their business operations in the emerging countries by adopting various strategies, such as acquisitions and contracts/agreements. The major players profiled in this report include Adelphi Packaging Machinery, Aetna Group, B&H Labelling Systems, Barry-Wehmiller Companies, Inc., Bosch Packaging Machinery, Bradman Lake Group, CKD Group, Coesia SpA, Fuji Machinery Company, and Harland Machine Systems Ltd.
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