Latin America Smart Packaging Market Report Description:
Latin America Smart Packaging market report gives comprehensive outlook on smart packaging market across the regions of Latin America. The report on Latin America Smart Packaging market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application and country. This report studies Latin America Smart Packaging market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Latin America Smart Packaging market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Latin America Smart Packaging market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Latin America Smart Packaging market report include suppliers, manufacturers, marketers, policy makers, and recent market activities.
Latin America Smart Packaging Market:
Changes in lifestyle patterns due to rapid urbanization and increase in consumption of beauty products and cosmetics with packaging advancement technology drive the Latin America smart packaging industry. In addition, untapped geographical regions offer enormous opportunities to the smart packaging market, which further fosters the overall smart packaging industry. The presence of oxygen in a packaged material increases the oxidative depreciation of food. Oxygen takes care of overall shelf life ability of muscle food products. Thus, the control of oxygen levels in food packaging is necessary to restrict the rate of such spoilage reactions in food. Thus, it is projected to grow at the fastest rate, which increases the Latin America smart packaging market size. However, high cost of active and intelligent packaging is projected to hamper the Latin America smart packaging market growth.
Partnerships and Collaborations Escalates the Smart Packaging Market
Key players are actively engaged in collaborations, acquisitions, new technological innovations and product launch to strengthen its tract in the Latin America market. January 2018 – Henkel and Selinko announced partnership for smart packaging solutions. It comprises of a collaboration agreement to expand and improve smart and interactive packaging solutions, especially focusing on FMCG markets. January 2018 – Beauty brand Avon has teamed up with British technology and product design firm Cambridge Design Partnership to test smart packaging in consumer trials of a new anti-aging product.
Healthcare or Pharmaceutical Industry Boosts the Smart Packaging Market
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.
Mexico Accounts for Larger Market Revenue Share in Latin America Smart Packaging Market
Latin America smart packaging market is experiencing an over-all high growth due to the escalating demand for convenience food such as ready-to-cook meal, the requirement for sustainable packaging and stringent food safety regulations. Mexico is expected to hold a dominant share in terms of revenue and anticipated to grow at a significant CAGR in the near future in the market. It can be attributed owing to various factors such as growing health awareness, food wastage concerns, and manufacturers’ demand for longer shelf life of the food products and supply chain inefficiencies. Furthermore, the consumers’ assurance with regards to packaged food, the threat of bioterrorism, organized food safety regulations and increased applications in ready-to-eat meals and frozen foods have created opportunities for advanced packaging technology market.
Key players profiled in the Latin America smart packaging market include:
- Sealed Air Corporation
- Bemis Company Inc.
- Winpak Limited
- Point Five Packaging Llc.
- Dansensor AS
- Praxair, Inc.
- Berry Latin America Inc.
- Ball Corporation
- Desiccare Inc.
- Linpac Packaging Limitied
- Coveris Holdings SA
- BASF SE
- Huhtamaki Group
- Amcor Limited
Key players are adopting new strategy to establish their footprint worldwide thereby enhancing their product portfolio. Merger, acquisition, product development and collaborations are some of the market strategy the key players implement. For instance, September 2017 – Magic Add, an innovator in the Internet of Packaging (IoP) smart packaging solutions, announced a partnership with UPM Raflatac. The partnership aims to provide high-performance self-adhesive label materials for product and information labeling. In co-operation with Magic Add, UPM Raflatac launched RafMore, a smart label solution designed to power and extend brand promotion, protection, and logistics applications.
Key Findings of the Report:
Latin America smart packaging market expanding at significant CAGR over 2019 to 2025 to reach market value of US$ XX Mn by 2025 owing to owing to its various advantages offered by smart packaging over their conventional counterparts.
- Based on end user type , food and beverage segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on mergers and acquisitions strategies to retain market position in Latin America Smart Packaging market
- Modified Atmosphere Packaging (MAP)
- Active Packaging
- Intelligent Packaging (IP)
By End User
- Food & Beverages
- Personal Care
- Latin America
- Rest of Latin America
Key Features of the Report:
- The report provides granular level information about the market size, country market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market