Smart Tag Packaging Market

Smart Tag Packaging Market: - Global Market Overview, Market Size and forecast, Market Segmentation: By Type (QR Code, Electronic Article Surveillance (EAS), and RFID), By Verticals (food & beverages, automotive, healthcare, personal care, and Others) By Geography, Growth Drivers, Key Players

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Report ID: 823 | Published On: Feb 01, 2022

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Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

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Smart Tag Packaging Overview

Smart Tag Packaging is also known intelligent packaging, interactive packaging or active packaging. A smart tag has an advantage of having the wide range of application over traditional bar codes. Smart tag is to draw the attention of consumers or provide authentication or additional information on the product; Smart packaging brings many benefits to consumer whether, it is product description, MRP, bar code and expiry date.  

Market Size and Forecast

The global smart tag packaging market is expected to showcase a significant CAGR of 4.6% during the forecasted period 2018-2027. Smart tag plays an important role in supply chain management by enabling the manufacturers and suppliers to keep track of logistics and optimally maintain the inventory level. The global smart tag packaging market is segmented into type, verticals and geography. In terms of regional platform, Europe region is believed to dominate the global smart tag packaging market aided by Western Europe countries such as U.K., France, Netherland and others.

Additionally, the United States is amidst the major countries augmenting the demand for smart tag packaging on account of rising prevalence of advancement in technology in the the consumer good industry. In terms of growth rate, Asia Pacific region is expected to witness the fastest growth with a CAGR of 6.9%. Asia Pacific accounted for the third largest market of smart tag packaging in terms of revenue in 2017. Moreover, the major countries witnessing the splurging demand for smart tag packaging include Japan and China.CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

Our in-depth analysis segmented the global smart tag packaging market in the following segments:

By Type

  • QR Code
  • Electronic Article Surveillance (EAS)
  • RFID

By End-User

  • Food & Beverages
  • Automotive
  • Healthcare
  • Personal Care
  •  Others

By Region

Global smart tag packaging market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

smart tag packaging market

smart tag packaging market
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Growth Drivers and Challenges

Online transaction is expected to increase while positively influencing the smart tag packaging market. Changing consumer lifestyle and increasing installation of modern retail outlets have boosted the growth in smart tag packaging market. Further, Smart packaging can change the way retailers, brand owners and consumers interact with products by communicating, engaging customers, managing inventory systems and much more. Rising consumer awareness about the packaging of consumer goods and electronic goods is anticipated to positively impact the growth of smart tag packaging market.Contrariwise, high cost of smart packaging tag is expected to hamper the growth of smart packaging tag market. Further, lack of standards and unawareness about the product is restraining the growth of the market.

Key players
  • Smart Label Solutions
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
  • Shenzhen Jianhe Smartcard Technology Co., Ltd.
  • Shenzhen Zdcard Tech Co., Ltd.
  • Shenzhen Top tags Technology Co., Ltd.
  • Chengdu Mind Golden Card System Co., Ltd.
  • Zhejiang Laxcen Information Technology Inc.
  • Limited, Alien Technology, Inc. (U.S.),
  • Muehlbauer Holding AG,
  • Thin Film Electronics ASA
  • Zebra Technologies

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