Global Smart Packaging Market – Industry Trends and Forecast to 2030

Smart Packaging Market Analysis and Size

Smart packaging options improve convenience and safety levels, increase the contents' overall shelf life, and provide customers with more information about the contents' quality and freshness. Intelligent packaging is the most recent technology in the packaging sector. Consumer lifestyles are changing due to rapid urbanization and an increase in the use of individualized personal items with cutting-edge integrated innovation, fueling the growth of the smart packaging market. The untapped geographic markets that present enormous opportunities for market players are another factor that supports the global packaging market industry. Intelligent packaging is the most recent technology in the packaging sector. Technology is developing more quickly in the food sector due to its enormous potential to increase consumer convenience.

Data Bridge Market Research analyses that the smart packaging market, valued at USD 24,937.91 million in 2022, will reach USD 39,299.49 million by 2030, growing at a CAGR of 5.85% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.         

Smart Packaging Market Scope and Segmentation  

Market Definition

"Smart packaging" refers to a particular class of sensor-equipped packaging systems used for food and medications. Smart packaging technology enhances product quality, shelf life, freshness monitoring, customer and product safety. Intelligent packaging systems detail a product's quality and freshness during packaging. In essence, "smart packaging" comprises various technologies, such as biosensors and radio frequency identification. For packaging-sensitive contents that demand better traceability, cutting-edge technological approaches must be combined with innovative packaging strategies.

Smart Packaging Market Dynamics

Drivers

• Increasing  demand for smart packaging in the food industry surges in market growth

In the food and beverage sector, smart packaging can be used to track a product's location during transportation, keep an eye on its quality and freshness, and inform the consumer of its ingredients and nutritional content. This can enhance the purchasing experience and the product's quality and safety. These factors are increasingly considered as people become more concerned with food freshness and defense against contaminants such as dust, dirt, smell, water vapors, heat, oxygen, and microbes. Additionally, demand for smart packaging that controls the temperature and keeps the food safe and fresh expands the smart packaging market.

• The developments in the printing processes surge market growth

Over time, printed technologies have changed to meet customer demands, governmental regulations, and packaging standards. This calls for printed technologies to enhance their functionality in the processing and printing packaging information to make them active and intelligent packaging. Digitalization and technologies are creating new frameworks for developing smart and intelligent applications. The processing and presentation of data on paper and other surfaces have proven to be a useful application of printed technologies. Therefore, much scientific research has been conducted on printed electronics and radio frequency identification (RFID) technology, laying the foundation for future smart packaging application development. People pay attention to the information on packaging that includes preparation instructions, nutritional data, and an ingredient list.

Opportunities

• E-commerce creates an opportunity for the packaging section

As the e-commerce sector expands, more technological innovations are being developed to offer customers security and safety, such as applications for shipment purposes, including simple product tracking, manufacturer's facilities, delivery partner information, and shipper's warehouse information. In developed, underdeveloped, and growing regions, online shopping is increasing; additionally, intelligent packaging solutions with details of tracking of shipment and delivery of the product help customers, which, in turn, presents lucrative opportunities for the market. Additionally, it is anticipated that the growing E-commerce sector, increased industrialization, and high demand for excellent supply chain management will offer market participants attractive potential.

• Innovating packaging for the healthcare sector creates demand for smart packaging

In the healthcare industry, intelligent packaging is crucial. Some equipment and medications require special packaging and temperature-controlled shipping. This has increased the demand for smart packaging. The use of smart packaging services has increased due to the prevalence of chronic illness and the aging population's increased demand for over-the-counter medications. The pharmaceutical industry's growing need for sophisticated packaging solutions and the market's expanding demand for smart and practical packaging contribute to its growth.

Restraints/Challenges

• High costs in mass applications can constraints the market from growing

Better packaging is more expensive than standard packaging due to the costs of sensors and radio frequency identification (RFIDs) used for packaging applications, contributing to the failure of mass applications for packaging systems. Due to the costs of the sensors and radio frequency identification (RFID) used for packaging applications, which are leading to failures over the mass applications for packaging systems, better packaging is more expensive than conventional forms of packaging.

Incorporating expensive technologies can restraint the market

Finding ways to incorporate expensive new technology into the packaging while maintaining or lowering customer pricing is the biggest challenge facing businesses in the smart packaging sector. Additional challenges include educating consumers about the benefits of this type of packaging and developing novel manufacturing techniques for technologically advanced sensors that can comply with current packaging regulations.

This smart packaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart packaging market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In 2022 - With a portfolio of design services, digital printing, and intelligent packaging options, Sealed Air introduced prismiq, its digital packaging brand. While improving products and customer engagement, it also gets rid of waste and extra packaging. A package-specific digital ID is generated by Sealed Air's end-to-end cloud-based platform, which also collects and manages data along the value chain.
• In 2022 - Foxpak Flexibles Ltd. (Foxpak) was acquired by Sealed Air Corporation in order to broaden its offering of digital smart packaging solutions for well-known international brands. Foxpak is a pioneer in flexible packaging digital printing. This privately held packaging solutions provider with headquarters in Ireland works with leading brands to provide exquisite packaging for a range of served markets, including pet food, food retail, seafood, and snacks.

Global Smart Packaging Market Scope

The smart packaging market is segmented on the basis of type, packaging technology, packaging functionality, material, end use vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Active Packaging
• Antimicrobial
• Gas scavengers
• oxygen scavengers
• carbon dioxide scavengers
• generators
• ethylene (ethane) scavengers
• Moisture control
• Corrosion control
• Self-venting films
• Emitters
• Microwave susceptors
• Antioxidants
• Flavour and odour absorbers
• Ethanol emitters
• Antibacterial Films
• Temperature Control Packaging
• Others
• Intelligent Packaging
• Indicators
• Time-temperature indicators
• Gas indicator
• Quality indicators
• Thermochromics ink.
• Tracking devices
• Radio frequency identification detection (RFID)
• Near-field communication (NFC)
• Sensors
• Bio sensors
• Gas sensors
• Data Carriers
• Data Carriers
• Bracodes
• 2D Matrix Codes
• Quick Response Codes
• Augmented Matrix Codes
• RFID Tags
• Interactive Packaging
• Controlled Permeability Packaging
• Modified Atmosphere Packaging
• Active modified atmosphere packaging
• Passive modified atmosphere packaging

Packaging Technology

• Indicators
• Sensors
• Data Carriers
• Bar codes
• Radio frequency identification detection (RFID)
• 2d matrix codes
• Quick response codes
• Augmented matrix codes

Packaging Functionality

• Protection
• Containment
• Communication
• Convenience

Material

• Solid
• Liquid

End Use Vertical

• Food
• Beverage
• Healthcare
• Personal Care
• Automotive
• Logistics
• Others

Smart Packaging Regional Analysis/Insights

The smart packaging market is analysed and market size insights and trends are provided by country, type, packaging technology, packaging functionality, material, end use vertical as referenced above.

The countries covered in the smart packaging market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa

North America dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region’s dominance are the current infrastructure availability for smart warehousing, logistics, and packaging.

Asia-Pacific will undergo the highest growth rate during the forecast period to show lucrative growth due to high demands for packaged food and associated packaged products that require increased concerns and care in the logistics cycle.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Smart Packaging Market Share Analysis

The smart packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related toSmart Packaging Market.

Some of the major players operating in the smart packaging market are:

• 3M (U.S.)
• Sealed Air (U.S.)
• Bemis Manufacturing Company (U.S.)
• AMETEK MOCON (U.S.)
• Amcor plc (Australia)
• International Paper. (U.S.)
• Stora Enso (Finland )
• DuPont (U.S.)
• Crown Paper Mill LLC (U.A.E.)
• Westrock Company. (U.S.)
• BASF SE (Germany),
• ZEBRA (U.S.)
• R.R. Donnelley and Sons Company (U.S.)
• Ball Corporation (U.S.)
• AVERY DENNISON CORPORATION (U.S.)
• Primex Plastics Corporation (India)
• National Packaging Company (U.S.)
• Ströbel GmbH (Germany)

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