Smart Packaging Market Research Report - Global Forecast 2030

Smart Packaging Market Research Report: Information By Technology (Active Packaging, Intelligent Packaging and Modified Atmosphere Packaging), By Application (Food & Beverage, Healthcare, Automotive, Personal Care and Others) - Forecast till 2030

ID: MRFR/PNT/1449-CR | February 2020 | Region: Global | 138 Pages         

1 Introduction

1.1 Definition 11

1.2 Scope Of The Study 11

1.3 Assumptions 11

1.4 Market Structure 11

2 Research Methodology

2.1 Research Process 13

2.2 Primary Research 14

2.3 Secondary Research 14

2.4 Market Size Estimation 14

2.5 Forecast Model 16

3 Market Dynamics

3.1 Drivers, Restraints And Trends Of Global Smart Packaging Market 17

3.2 Drivers 17

3.2.1 Increased Demand From Food & Beverage Industry 17

3.2.2 Growing Demand From Pharmaceutical Industry 18

3.2.3 Increased Government Policies Regarding Food Safety 19

3.3 Restraints 20

3.3.1 High Added Cost Of Products 20

3.3.2 Lack Of Willingness From Consumers And Retailers 20

3.3.3 Lack Of Marketing 20

3.4 Opportunities 21

3.4.1 Advances In Printed Electronics 21

4 Market Factor Analysis

4.1 Value Chain Analysis 22

4.1.1 Raw Material 22

4.1.2 Manufacturers 22

4.1.3 End-Users 23

4.1.4 After-Sales Services 23

4.2 Porter's 5 Forces Analysis 23

4.2.1 Threat Of New Entrants 24

4.2.2 Bargaining Power Of Suppliers 24

4.2.3 Bargaining Power Of Buyers 24

4.2.4 Threat Of Substitutes 24

4.2.5 Segment Rivalry 25

5 Global Smart Packaging Market, By Technology

5.1 Introduction 27

5.2 Active Packaging 27

5.3 Intelligent Packaging 27

5.4 MAP 28

6 Global Smart Packaging Market, By Application

6.1 Introduction 31

6.2 Food & Beverage 31

6.3 Automotive 31

6.4 Healthcare 32

6.5 Personal Care 32

6.6 Others 32

7 Global Smart Packaging Market, By Region

7.1 Introduction 35

7.2 North America 36

7.2.1 U.S 37

7.2.2 Canada 38

7.3 Europe 40

7.3.1 Germany 41

7.3.2 U.K. 42

7.3.3 France 43

7.3.4 Spain 44

7.3.5 Italy 45

7.3.6 Rest Of Europe 46

7.4 APAC 48

7.4.1 China 49

7.4.2 Japan 50

7.4.3 India 51

7.4.4 Rest Of APAC 52

7.5 Rest Of The World (RoW) 54

7.5.1 South America 55

7.5.2 Middle East & Africa 56

8 Competitive Scenario

8.1 Competitive Landscape 58

9 Company Profiles

9.1 PakSense Inc. 59

9.1.1 Company Overview 59

9.1.2 Financial Overview 59

9.1.3 Product/Service Offering 60

9.1.4 Strategy 60

9.1.5 SWOT Analysis 61

9.2 Stora Enso 62

9.2.1 Company Overview 62

9.2.2 Product/Service Offering 62

9.2.3 Financial Overview 63

9.2.4 Strategy 64

9.2.5 SWOT Analysis 65

9.3 R.R. Donnelly Sons & Company 66

9.3.1 Company Overview 66

9.3.2 Product/Service Offering 66

9.3.3 Strategy 68

9.3.4 SWOT Analysis 69

9.4 Avery Dennison Corporation 70

9.4.1 Company Overview 70

9.4.2 Financial Overview 70

9.4.3 Product/Service Offering 71

9.4.4 Strategy 71

9.4.5 SWOT Analysis 72

9.5 3M Company 73

9.5.1 Company Overview 73

9.5.2 Financial Overview 73

9.5.3 Product/Service Offering 74

9.5.4 Strategy 77

9.5.5 SWOT Analysis 78

9.6 Huhtamaki Group 79

9.6.1 Company Overview 79

9.6.2 Product/Service Offering 79

9.6.3 Financial Overview 79

9.6.4 Strategy 80

9.6.5 SWOT Analysis 81

9.7 Smartrac N.V 82

9.7.1 Company Overview 82

9.7.2 Product/Business Segment Overview 82

9.7.3 Financial Overview 82

9.7.4 Strategy 83

9.7.5 SWOT Analysis 84

9.8 TempTime Corporation 85

9.8.1 Company Overview 85

9.8.2 Financial Overview 85

9.8.3 Product/Service Offering 85

9.8.4 Strategy 86

9.9 American Thermal Instruments 87

9.9.1 Company Overview 87

9.9.2 Financial Overview 87

9.9.3 Product/Service Offering 87

9.9.4 Strategy 87

10 List Of Tables

TABLE 1 GLOBAL PROCESSED FOOD & BEVERAGES SALES, GROWTH RATE AND MARKET SHARE, BY REGION, 2000 AND 2013 18

TABLE 2 GLOBAL SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 28

TABLE 3 GLOBAL SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 33

TABLE 4 GLOBAL SMART PACKAGING MARKET, BY REGION, 2020-2027 (USD BILLION) 35

TABLE 5 NORTH AMERICA: SMART PACKAGING MARKET, BY COUNTRY, 2020-2027 (USD BILLION) 36

TABLE 6 NORTH AMERICA: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 36

TABLE 7 NORTH AMERICA: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 37

TABLE 8 U.S.: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 37

TABLE 9 U.S.: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 38

TABLE 10 CANADA: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 38

TABLE 11 CANADA: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 39

TABLE 12 EUROPE: SMART PACKAGING MARKET, BY COUNTRY, 2020-2027 (USD BILLION) 40

TABLE 13 EUROPE: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 40

TABLE 14 EUROPE: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 41

TABLE 15 GERMANY: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 41

TABLE 16 GERMANY: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 42

TABLE 17 U.K.: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 42

TABLE 18 U.K.: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 43

TABLE 19 FRANCE: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 43

TABLE 20 FRANCE: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 44

TABLE 21 SPAIN: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 44

TABLE 22 SPAIN: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 45

TABLE 23 ITALY: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 45

TABLE 24 ITALY: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 46

TABLE 25 REST OF EUROPE: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 46

TABLE 26 REST OF EUROPE: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 47

TABLE 27 APAC: SMART PACKAGING MARKET, BY COUNTRY, 2020-2027 (USD BILLION) 48

TABLE 28 APAC: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 48

TABLE 29 APAC: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 49

TABLE 30 CHINA: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 49

TABLE 31 CHINA: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 50

TABLE 32 JAPAN: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 50

TABLE 33 JAPAN: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 51

TABLE 34 INDIA: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 51

TABLE 35 INDIA: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 52

TABLE 36 REST OF APAC: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 52

TABLE 37 REST OF APAC: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 53

TABLE 38 ROW: SMART PACKAGING MARKET, BY REGION, 2020-2027 (USD BILLION) 54

TABLE 39 ROW: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 54

TABLE 40 ROW: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 55

TABLE 41 SOUTH AMERICA: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 55

TABLE 42 SOUTH AMERICA: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 56

TABLE 43 MIDDLE EAST & AFRICA: SMART PACKAGING MARKET, BY TECHNOLOGY, 2020-2027 (USD BILLION) 56

TABLE 44 MIDDLE EAST & AFRICA: SMART PACKAGING MARKET, BY APPLICATION, 2020-2027 (USD BILLION) 57

11 List Of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR 13

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 15

FIGURE 3 DRIVERS, RESTRAINTS AND TRENDS OF GLOBAL SMART PACKAGING MARKET 17

FIGURE 4 PHARMACEUTICAL SPEND PER CAPITA, 2020 (USD MILLION) 19

FIGURE 5 VALUE CHAIN ANALYSIS OF GLOBAL SMART PACKAGING MARKET 22

FIGURE 6 PORTER'S 5 FORCES ANALYSIS OF GLOBAL SMART PACKAGING MARKET 23

FIGURE 7 GLOBAL SMART PACKAGING MARKET SIZE, BY TECHNOLOGY, 2020-2027 (USD BILLION) 29

FIGURE 8 GLOBAL SMART PACKAGING MARKET, BY APPLICATION, 2020-2027(USD BILLION) 33

FIGURE 9 GLOBAL SMART PACKAGING MARKET, BY REGION, 2020-2027 (USD BILLION) 35

FIGURE 10 GROWTH STRATEGIES ADOPTED BY KEY PLAYERS IN GLOBAL SMART PACKAGING MARKET, 2020-2027 (%) 58

FIGURE 11 PAKSENSE INC.: TOTAL REVENUE VS SEGMENTAL REVENUE, 2020-2027 (USD MILLION) 59

FIGURE 12 PAKSENSE INC.: GEOGHRAPHICAL REVENUE MIX, 2020 (%) 60

FIGURE 13 STORA ENSO: GEOGRAPHICAL REVENUE MIX, 2020 (IN %) 63

FIGURE 14 STORA ENSO: KEY DEVEOLOPMENT, 2020-2027 (IN %) 64

FIGURE 15 RR DONELLEY & SONS: TOTAL REVENUE VS SEGMENTAL REVENUE (USD MILLION) 67

FIGURE 16 RR DONELLEY & SONS: GEOGRAPHICAL REVENUE MIX, 2020 (IN %) 67

FIGURE 17 RR DONELLEY & SONS: KEY DEVELOPMENTS, 2020-2027 (%) 68

FIGURE 18 AVERY DENNISON CORPORATION: NET SALES VS SEGMENTAL SALES, 2020-2027 (USD MILLION) 70

FIGURE 19 AVERY DENNISON CORPORATION: GEOGRAPHICAL REVENUE MIX, 2020 (%) 71

FIGURE 20 AVERY DENNISON CORPORATION: KEY DEVELOPMENTS, 2020-2027 (%) 72

FIGURE 21 3M COMPANY: NET SALES VS SEGMENTAL SALES, 2020-2027 (USD MILLION) 73

FIGURE 22 3M COMPANY: GEOGRAPHICAL REVENUE MIX, 2020 (IN %) 74

FIGURE 23 HUHTAMAKI GROUP: TOTAL REVENUE, 2013-2020 (USD MILLION) 79

FIGURE 24 HUHTAMAKI GROUP: GEOGRAPHICAL REVENUE MIX, 2020-2027 (IN %) 80

FIGURE 25 HUHTAMAKI GROUP: KEY DEVELOPMENTS, 2020-2027 (%) 80

FIGURE 26 SMARTRAC N.V: KEY DEVELOPMENTS, 2020-2027 (IN %) 83

Smart Packaging Market

The Smart Packaging Market growth rate is projected to be 5.87% until 2027. The smart packaging market value was USD 39.82 billion in 2020. It’s expected to be worth USD 61.91 billion in 2027.

Segmentation

By Technology Active Packaging Intelligent Packaging Modified Atmosphere Packaging
By Application Food & Beverage Healthcare Automotive Personal Care Others

Key Players

  • Stora Enso (Finland)
  • AVERY DENNISON CORPORATION (U.S.)
  • BASF SE (Germany)
  • TempTime Corporation (U.S.)
  • Thin Film Electronics ASA (Norway)
  • Huhtamaki (Finland)
  • American Thermal Instruments (U.S.)
  • 3M (U.S.)
  • R. Donnelly Sons & Company (U.S.)

Drivers

  • Increasing Demand from Food & Beverage Industry
  • Increasing Demand from pharmaceutical industry
  • Stringent government policies on food safety
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Smart Packaging Market Overview


The smart packaging market growth rate is projected to be 5.87% until 2027. The smart packaging market value was USD 39.82 billion in 2020. It’s expected to be worth USD 61.91 billion in 2027. 


Many food processing companies use smart packaging because it helps their food items last longer and stay fresh for many more weeks. They also find that it’s easier to adhere to stringent national and international labeling standards if they use smart packaging.


COVID-19 analysis


COVID-19 is a virus that has puzzled the best brightest of health researchers, medical professionals, and government officials in the post-modern world. What leaves most of these people confounded is the fact that not everyone who gets this novel virus suffers in the same way. They also don’t suffer the same fate. Nevertheless, government officials, health researchers, and medical professionals realized that COVID-19 was dangerous because it made some people deathly ill. 


Governments around the world imposed temporary lockdowns and quarantines to try to control the spread of this novel virus. While these were short-lived, the effects of these quarantines and lockdowns on companies in almost all industries around the world were long-term and disastrous.


Many companies were forced to either dramatically slow production down or halt it altogether, at least temporarily. Most companies are only now starting to recover. Well, the companies in the global smart packaging industry suffered the exact opposite fate. Many people were staying at home. They were ordering food items online. Hence, the need for smart packaging increased since people expected their food items to be packaged in as sanitary packaging as possible.


They also wanted to minimize the risk of deadly germs and pathogens growing in the foods that they consumed. Smart packaging minimizes this risk greatly. Since COVID-19 lives on, the general demand for food that’s safer and packaged in sanitary packaging is likely to hold through for at least the next few years. Thus, the global smart packaging industry is likely to experience a high CAGR.


Competitive landscape


The smart packaging industry faces cut-throat competition. The primary reasons for this are that the industry, in general, has a reasonable CAGR and it’s fairly lucrative. Also, there aren’t high barriers to entry in this industry. Thus, many larger companies with bigger treasuries are encouraged and enticed to enter the industry. The smart packaging industry remains highly fragmented for this reason.


In any case, companies find that they must resort to heavy investments in research and development if they want to develop the packaging that will allow them to create the sustainable competitive advantage that they need to remain profitable and financially viable.


Companies find that merging with and acquiring other successful companies in the industry helps them remain competitive and profitable. They can increase their knowledge and resource bases. Thus, they can develop and market superior products that can and will continue to keep them ‘one step ahead of the competition!’


Entering into strategic partnerships with other successful companies will do the same thing for the resulting companies that mergers and acquisitions do.


TempTime Corporation is a major American player in the global smart packaging industry. It is an industry leader because it invested heavily in research and development. Thus, it was able to create a sustainable competitive advantage. This allowed it to remain financially profitable in both the short and long run.


List of companies



  • Stora Enso (Finland),

  • AVERY DENNISON CORPORATION (U.S.),

  • BASF SE (Germany),

  • TempTime Corporation (U.S.),

  • Thin Film Electronics ASA (Norway),

  • Huhtamaki (Finland),

  • American Thermal Instruments (U.S.),

  • 3M (U.S.), and

  • R. Donnelly Sons & Company (U.S.)


Market Dynamics


Drivers


More and more companies in the global smart packaging industry are incorporating freshness indicators, indicators of germ and pathogen growth, devices that can sense the buildup of gas (a great indicator of microbial growth), and time-temperature indicators in their packaging. This is projected to be a major driver of smart packaging market growth. 


The pharma and food processing industries need this type of packaging. The fact that companies in these two industries are constantly marketing newer and better products is projected to be another major driver of smart packaging market growth.


Opportunities


Many companies in the smart packaging industry are encouraged by the higher CAGR of the market. They’re also enticed by the fact that the market is lucrative in general. Thus, they are investing heavily in research and development to develop a new generation of technologies that will allow them to develop and market smart packaging that is environmentally friendly. This is expected to dramatically boost demand for this type of packaging in the future.


Better printing technologies will also allow these companies to make safer and more sanitary packaging in the future. This is a crucial opportunity for them.


Restraints


A major restraint that companies in the smart packaging industry face are the fact that the pandemic forced many retail and grocery chain stores to restrict in-store shopping. This encouraged many people to seek online grocery shopping opportunities. One such example is Hello Fresh.


Challenges


Perhaps the greatest challenges that the companies in the smart packaging industry face are being able to incorporate expensive new technologies into the packaging while charging customers the same or lower prices for items. Other challenges include developing new techniques for making technologically advanced sensors that can conform to current packaging standards and educating consumers about the benefits of this type of packaging.


Technology analysis


Avery Dennison Corporation is a major American company in the global smart packaging industry. It became one of the most prominent players in the smart packaging market by investing heavily in research and development. Thus, it was able to develop the sustainable competitive advantage that it needed to become and remain financially successful.


Segment overview


By technology


It’s rapid and deep technological advances that are driving strong smart packaging market growth. In the future, customers will be more inclined to buy items that are packaged in smart packaging that’s able to control humidity levels. They’ll also expect this packaging to be able to keep food odors from leaching out and ensure that the packaged food continues to remain in conditions that will ensure its freshness for longer.


By application


The food and beverages sub-segment is likely to enjoy the greatest smart packaging market share in this segment. There are some reasons for this. The first is that more people around the world want to eat food that they know is healthy. The second is that they want to eat food that they know is fresh. Smart packaging can guarantee this. They also want to buy food that’s readily and always available and can stay fresh for long periods of time. Again, smart packaging can guarantee these.


Most companies in the food and beverages sub-segment are driven to use smart packaging because doing so makes it easier for them to comply with increasingly stringent and recent standards in food safety. Consumers also want their packaging to be as transparent in terms of information as possible. Companies find that smart packaging makes this and protecting their brands possible.


The world may have already been moving towards preferring their food items being packaged in smart packaging for sanitation and transparency reasons. That said, COVID-19 greatly accelerated this trend.


Regional analysis


The smart packaging industry is divided into the following regions:



  • North America

  • Asia-Pacific

  • The European Union

  • The rest of the world


The Asia-Pacific region is expected to enjoy the highest smart packaging market growth rate for the time period that this report covers. There are a few reasons for this. The first is that the current generation of Asians, in general, is much better educated than previous generations were. The second is that the first reason is making them much more health-conscious. They want to know exactly how the foods that they consume were packaged. They also want to know what packaging these foods are in. The general belief is that sanitary packaging also leads to safer food.


People are also becoming wealthier in this region. Therefore, they can afford to buy items (food, medicines) that are packaged in smart packaging. This is further driven by the fact that Asians increasingly want their food and medicines to be packaged in packaging that’s environmentally safe.


The North American region is expected to have the greatest smart packaging market share for the time period that this report covers. The reasons for this are that people are conscious about wasting food. Given the fact that many Americans are hungry and given the fact that hunger is a growing problem in America, many Americans want to make sure that as little food is wasted as possible. This is possible if excess food is packaged in smart packaging to ensure that it stays fresh for as long as possible.


Companies in this region are also investing heavily in smart packaging because they perceive it to be technologically advanced, safe, and thus have newer and more innovative uses and applications.


Already, many companies in a variety of sectors ranging from food to automotive are using smart packaging in the North American region. This is expected to drive growth in regional demand for smart packaging. The smart packaging market growth rate is highest in Canada and the United States of America.


Recent Developments



  • Avery Dennison is partnering with Schreiner MediPharm and PragmatIC for utilizing near-field communications (NFC) for extending the capabilities of smart packaging to everyday pharma products. This can improve patient experience and provide a layer of security to the products.

  • FrieslandCampina has collaborated with Kezzler, a provider of serialization systems, for packaging and traceability of its infant formula, Friso. The ability to track the product from the farmer to consumer can eliminate customer concerns and invite transparency to the product.

  • iOlive has integrated NFC on its bottles for fighting false claims and ensure authenticity of its olive oil bottles. The mobile application created by the company can catalog authentic products and protect customers from spurious products.


Report overview


The smart packaging market growth rate is projected to be 5.87% until 2027. The smart packaging market value was USD 39.82 billion in 2020. It’s expected to be worth USD 61.91 billion in 2027.


The North American market will have the largest market share for the time period that this report covers. The Asia-Pacific market will have the highest regional CAGR for the time period that this report covers. The reasons for this are that the current generation of Asians are better educated, wealthier, and more environmentally conscious than previous generations were.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2027: USD 61.91 Billion
  • 2030 : Significant value
  •   CAGR   5.87% CAGR (2022 to 2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Technology and Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Stora Enso (Finland), AVERY DENNISON CORPORATION (U.S.), BASF SE (Germany), TempTime Corporation (U.S.), Thin Film Electronics ASA (Norway), Huhtamaki (Finland), American Thermal Instruments (U.S.), 3M (U.S.), and R.R. Donnelly Sons & Company (U.S.)
      Key Market Opportunities   Advances in Printed Electronics
      Key Market Drivers

  • Increasing Demand from Food & Beverage Industry
  • Increasing Demand from pharmaceutical industry
  • Stringent government policies on food safety


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    Frequently Asked Questions (FAQ) :

    Over the span of 2022 to 2030, the smart packaging market can surge at 5.87% CAGR.

    The smart packaging market can value at USD 61.91 billion by 2030

    American Thermal Instruments (US), Thin Film Electronics ASA (Norway), and R.R. Donnelly Sons & Company (US) are some notable companies in the smart packaging market.

    The rise in need for smart packaging in the booming e-commerce sector can prompt the expansion of the market.

    North America smart packaging market can thrive as need for smart packaging rise in F&B sector of the region.