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Packaging 4.0 Market Size is predicted to record a 11.7% CAGR during the forecast period for 2024-2031.
Packaging 4.0 integrates cutting-edge technology, such as blockchain, internet-connected devices, and artificial intelligence-powered computers, to improve sustainability, efficiency, and functionality. With the help of Packaging 4.0, businesses can maintain a leading position in the packaging sector by responding to shifting consumer preferences, government mandates, and sustainability targets. Personalized experiences are becoming more important to consumers, who are also more worried about the safety and authenticity of products they buy.
Furthermore, an increasing number of industrial and manufacturing processes are using robotics and automation technologies as part of the ongoing development of Industry 4.0. A further developing pattern is the cooperation of machines and people. Rapid advancements in robotics are reshaping many industries, and one of the most prominent is the increasing prevalence of industrial robots in major manufacturing centers. With the widespread adoption of packaging 4.0 technology, this trend continues to grow faster.
However, the market growth is hampered by the high-cost criteria for the safety and health of the packaging 4.0 market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high humidity.
The large initial investment required to integrate and deploy sensors, electric actuators, and controls into production and manufacturing processes explains why small and medium-sized enterprises have been slow to embrace Industry 4.0. The overall upfront cost includes the price of integration and implementation, customization and system or solution design, industrial training, and maintenance. Ongoing system maintenance can necessitate the services of trained experts. The 4.0 technology's high initial investment and ongoing maintenance costs limit the market's potential. The COVID-19 epidemic has disproportionately negatively impacted countries that play a significant role in Industry 4.0. Many governments in various regions are responding to the pandemic in different ways.
Competitive Landscape
Some of the packaging 4.0 market key players are:
- Amcor Ltd.
- Avery Dennison Corporation
- Etimex Packaging 4.0 GmbH
- DuPont Bemis Company Inc.
- Procter & Gamble Company (P&G)
- Sonoco Products Company
- Ball Corporation
- International Paper Company
- Sealed Air Corporation
- Smurfit Kappa Group
- Tetra Pak
- HP Inc
- Bosch Packaging Technology
- Capsugel Inc.
- BASF SE
- Nestlé SA
- Hindustan National Glass & Industries Ltd.
- Mondi plc.
Market Segmentation:
The packaging 4.0 market is segmented based on type, technology, material, and end-user. By type, the market is segmented into active, smart, sustainable, protective, supply chain management, and anti-counterfeiting packaging. By technology, the market is segmented into the Internet of Things (IoT), RFID (Radio Frequency Identification), NFC (Near Field Communication), augmented reality (AR, smart sensors, and artificial intelligence (AI). By material, the market is segmented into biodegradable and compostable materials, recyclable plastics, paper and cardboard, metal packaging, glass packaging, and flexible packaging. Based on end-users, the market is segmented into food and beverage, pharmaceuticals and healthcare, cosmetics and personal care, automotive and industrial, retail and consumer goods, and agriculture and horticulture.
Based On The Material, The Biodegradable And Compostable Materials Segment Is Accounted As A Major Contributor To The Packaging 4.0 Market
The biodegradable and compostable materials packaging 4.0 market is expected to hold a significant global market share in 2022. Biodegradable and compostable materials are utilized as a part of the industry's endeavour to reduce plastic pollution and promote the principles of a regenerative economic model, which aligns with legal obligations. These materials are used in food, household goods, and commercial packaging; they are also an ecologically friendly option to conventional packaging materials.
Pharmaceutical And Healthcare Segment To Witness Growth At A Rapid Rate
Pharmaceutical and healthcare companies make up the bulk of pharma 4.0 usage because pharmaceutical businesses are increasingly utilizing new technology to boost operational efficiency and product and service quality. Worldwide, pharmaceutical companies primarily focus on shortening and reducing the overall cost of drug development to meet the increasing demand for medications and therapies, especially in countries like the US, Germany, the U.K., China, and India.
In The Region, The North American Packaging 4.0 Market Holds A Significant Revenue Share
The North American packaging 4.0 market is expected to register the highest revenue share in the near future. This can be attributed to the heightened focus on innovations. The development of new technologies will also contribute to the expansion of this sector. In addition, Asia Pacific is projected to advance in the global respiratory device accessories market because of the rigorous procedures to embrace automation in manufacturing. Even more so, the region's packaging 4.0 industry is expected to be driven by the adoption of innovative technologies.
Packaging 4.0 Market Report Scope:
|
Report Attribute |
Specifications |
|
Growth Rate CAGR |
CAGR of 11.7% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, Technology, Material, And End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
|
Competitive Landscape |
Amcor Ltd., Avery Dennison Corporation, Etimex Packaging 4.0 GmbH, DuPont Bemis Company Inc., Procter & Gamble Company (P&G), Sonoco Products Company, Ball Corporation, International Paper Company, Sealed Air Corporation, Smurfit Kappa Group, Tetra Pak, HP Inc, Bosch Packaging Technology, Capsugel Inc., BASF SE, Nestlé SA, Hindustan National Glass & Industries Ltd., and Mondi plc. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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