Global Smart Packaging Market Insights Forecasts to 2033

• The Global Smart Packaging Market Size was Valued at USD 25.7 Billion in 2023.
• The Market Size is Growing at a CAGR of 6.20% from 2023 to 2033
• The Worldwide Smart Packaging Market Size is Expected to Reach USD 46.9 Billion by 2033
• Asia Pacific expected to grow the fastest during the forecast period

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The Global Smart Packaging Market Size is Anticipated to Exceed USD 46.9 Billion by 2033, Growing at a CAGR of 6.20% from 2023 to 2033.

 

Market Overview

The phrase "smart packaging" describes a specific type of sensor-based packaging system that is used for a range of products, such as medications and food. The use of smart packaging technology enhances consumer and product safety as well as product quality, shelf life, and freshness monitoring. When a product is packed with intelligent technology, these systems provide information on its quality and freshness. Because of the numerous ways that smart packaging is changing both the consumer product packing business and the packaging industry as a whole, the field is gaining greater attention. Due to better information tracking and sharing, consumers are learning more about the companies and products they use and purchase, which leads to this increased utility. From a business standpoint, smart packaging provides more data into the industry and clients that a company services while providing a more personalized, unique, and approachable manner for customers to engage with a company's brand. As the name suggests, smart packaging adds extra functionality to products. It includes several different technologies designed to do more than merely package. Customers benefit from this as do the companies who distribute the items.

 

Report Coverage

This research report categorizes the market for the global smart packaging market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global smart packaging market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global smart packaging market.

 

Driving Factors

As a result, the food and beverage sectors are seeing a rise in demand for smart packaging. Customers are more conscious about food's freshness, nutritional value, purity, and defense against odors, heat, dust, and other external elements. People also like items that come with ingredient information, nutritional data, warnings, and cooking directions on the box. Global lifestyle shifts and consumer demand for fresh food are pushing the market's requirement for intelligent packaging. Additionally, the market's need for personal care goods is being driven by people's growing worries about their health. Solid packaging is used for beauty and personal care goods because of its many uses and affordability.

 

Restraining Factors

Traditional packaging materials don't include new technology like sensors, IDs, and the Internet of Things. RFIDs, sensors, and the Internet of Things are just a few of the cutting-edge systems, technologies, and gadgets that smart packaging uses to provide real-time product tracking, control, and monitoring. Additionally, they use state-of-the-art packaging materials to keep items fresh and unique for a longer length of time. These items or materials cost more than their regular counterparts. Thus, the market's growth would be constrained by the high cost of smart packaging.

 

Market Segmentation

The Global Smart Packaging Market share is classified into technology, material, and end-user.

• The MAP segment is expected to hold the largest share of the global smart packaging market during the forecast period.   

The smart packaging market is categorized by technology into active packaging, intelligent packaging, and MAP. Among these, the MAP segment is expected to hold the largest share of the smart packaging market during the forecast period. In order to extend the shelf life of packed food, MAP (modified environment packaging) involves adding active gases, like CO2, and inert gases, like nitrogen, together with antimicrobials to the food. The demand for packaged food that is ready-to-eat is rising globally. Because of this, there is a growing need for packaging in a regulated environment to preserve food quality and nutrients.

 

• The solid segment is expected to grow at the fastest pace in the global smart packaging market during the forecast period.    

Based on the material the global smart packaging market is divided into solid and liquid. The solid segment is expected to grow at the fastest pace in the smart packaging market during the forecast period. Solid packaging material can produce high-quality printing and is lightweight, moisture-resistant, and environmentally friendly. Because solid packaging is so useful for packing pills and capsules, it is in great demand in the pharmaceutical sector.

 

• The food and beverage segment is expected to hold the largest share the global smart packaging market during the forecast period.

Based on the end-user the global smart packaging market is divided into food and beverage, healthcare, personal care, and others. The food and beverage segment is expected to hold the largest share the smart packaging market during the forecast period. Leading beverage manufacturing businesses are using smart packaging to enhance shelf life, activate augmented reality (AR), and highlight sustainability on consumer-facing products. Beverage firms employ QR codes for a variety of purposes, such as providing quick access to nutritional data or capturing consumers' attention through captivating advertisements.

 

Regional Segment Analysis of the Global Smart Packaging Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is anticipated to hold the largest share of the global smart packaging market over the predicted timeframe.

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North America is projected to hold the largest share of the global smart packaging market over the predicted years. This is because there are a lot of retail outlets and the packaging sector is growing quickly in places like the United States and Canada. Prominent companies in many end-user sectors are using cutting-edge smart packaging solutions to enhance user experience, manage inventory, and ensure product integrity. Common supply chain issues, such as obtaining raw materials from suppliers and supply chain management, can be addressed by smart packaging.

Asia Pacific is expected to grow at the fastest pace in the global smart packaging market during the forecast period. The increased rate of smartphone penetration and the growing use of smart packaging are responsible for this. Customers may be able to connect with this via QR, RFID, or NFC tags to learn more about promotions and exclusive deals in addition to product authenticity. Similar to this, the presence of several manufacturers in India has led to an increase in the usage of smart packaging. Consequently, it is anticipated that throughout the projected period, this will propel market revenue development.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global smart packaging along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• R.R. Donnelley and Sons Company
• 3M
• Sealed Air
• Ströbel GmbH
• Westrock Company.
• Bemis Manufacturing Company
• AMETEK MOCON
• Amcor plc
• Ball Corporation
• ZEBRA
• International Paper.
• Stora Enso
• DuPont
• BASF SE
• AVERY DENNISON CORPORATION
• Crown Paper Mill LLC
• Primex Plastics Corporation
• National Packaging Company

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

 

• In March 2023, Amcor, a firm that designs and produces environmentally friendly packaging solutions, and Nfinite Nanotechnology Inc. have announced a collaborative research project agreement to test the use of Nfinite's nanocoating technology to enhance packaging that is compostable and recyclable.

 

• In January 2023, Avery Dennison declared that it will build a new production plant in Queretaro, Mexico, as part of a significant investment to increase its manufacturing capacity in the Americas. His ambition to become the largest RFID supplier globally, enabling each item to have its digital ID, is supported by this funding. The new facility's technologies could improve efficiency across a range of businesses by making the supply chain more open and interconnected. Avery Dennison plans to make over $100 million in investments.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Smart Packaging Market based on the below-mentioned segments: 

 

Global Smart Packaging Market, By Technology

• Active Packaging
• Intelligent Packaging
• MAP

 

Global Smart Packaging Market, By Material

• Solid
• Liquid

 

Global Smart Packaging Market, By End-user

• Food and Beverage
• Healthcare
• Personal Care
• others

 

Global Smart Packaging Market, By Region

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• Uk
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• UAE
• Saudi Arabia
• Qatar
• South Africa
• Rest of the Middle East & Africa