The global smart packaging market was valued at US $ 35.92 Billion in 2023 and is expected to reach US $ 60.49 Billion by 2032 growing at a CAGR of 5.4% during the forecast period 2024 – 2032.

Since smart packaging can help manage inventory, cut product waste and improve efficiency along the supply chain. Using augmented reality (AR) and virtual reality (VR), packaging creates immersive, interactive experiences for consumers.

The emergence of e-commerce and the need for packaging suitable to this market are together building a main force behind smart packaging development. Using intelligent labels and temperature-and-humidity tags ensuring the freshness and quality of perishable commodities.

Smart packaging solutions with unique identification elements, which are also accompanied by strong anti-counterfeiting measures. Smart packaging solutions provide personalized marketing and consumer involvement through targeted messages and promotions. Novel smart packaging solutions came about through innovations in printed electronics and flexible packaging technologies.

For several firms in the field of smart packaging, this higher CAGR for the market is an encouraging sign. They are further drawn in by the general profitability of the market. They are making considerable investment in research and development to produce a new generation of technologies that will enable them build, commercialise environmentally friendly smart packaging. This is expected to increase substantially future demand for this type of packaging. Better printing technology will produce more hygienic and safer packing for future products from these companies.

As their temperature-sensitive contents require, more and more the food, beverage, and pharmaceutical industries are looking to transportation packaging with built-in refrigeration. This is driving the market's growth. Also, companies in this industry today use labels for identification of the various parts and branding purposes. These further increases demand on the market. But the high initial costs of manufacture and execution will restrict market growth in terms of speed.

The Smart Packaging Market Trend Analysis

The quick pace of urbanization and the rising rates of single-use personal products--70 percent or more use cutting edge innovation integrated packaging in their daily lives. Moreover, the world packaging market business relies on potential geographic regions yet to be tapped that offer vastly open doors for competitors in this market.

As a result of various F&B applications being developed in nanotechnology, competition for shelf-stable and environmentally friendly packaging materials from retailers and manufacturers are expanding the market. The growing number of packaged food products is widening further still its scope.

Improvements in all fields of printing technologies are also driving the market. Printed technologies have proven their worth in the processing and printing of information on paper or other surfaces. Hence, in the past few years there has been a great deal of scientific research into printed electronics and RFID technology--the bedrock on which future applications for smart packaging will be built.

In the healthcare field, smart packaging is an absolute necessity. For certain pieces of equipment and medications, special packing or temperature-controlled shipping are required. As a result, the need for smart packaging has increased. On the other hand, chronic illnesses and a rapidly aging population have greatly increased demand for over-the counter medicines. This has meant higher consumption of smart packaging services.

Segmentation Analysis of the Smart Packaging Market

By Application

It's probably going to be the segment for food and drinks those accounts for the largest market share in smart packaging. There are several reasons for this. The first reason is that in today's world, more people want to eat healthy food good for eating. The second is that people enjoy consuming fresh food. Smart packaging makes this promise. Moreover, they prefer to buy foods which are always on the market and easy to get at, with a long shelf life. Once again, clever packing can accomplish this. In the food and beverage sub-segment, as most companies are compelled to use smart packaging in order make it easier for them to abide by today's strictest standards of food safety. Also, consumers want the information on their packaging as simple and clear as possible. Smart packaging, businesses say, allows them to do this and at the same time protect their brands. In terms of hygiene and openness, the world may already be headed toward wanting its food packed in intelligent packaging. But COVID-19 greatly hastened this process.

By Type

Based on type, the intelligent packaging segment is expected to grow at a CAGR of 6.5 % during the forecast period; however, in terms of revenue share by market segmentation in 2022 modified atmosphere packaging held the largest portion. According to end users, smart packaging had a market share of 58 % in the food and beverage industry by value in 2022. Others, though, is expected to be the fastest growing category over the next few years. By sales, in 2020, the solid category accounted for a lion's share of the market; it is expected to enjoy an even higher CAGR during the forecast period. In 2020, North America brought in the most revenue on a regional basis. LAMEA is predicted to have the highest CAGR over the forecast period.

Regional Analysis of the Smart Packaging Market

The market for smart packaging is expected to grow at the fastest rate during this research period in Asia-Pacific. This is for a couple of reasons. First, Asians today are generally much better educated than previous generations of Asian immigrants. The second reason is that they are becoming lot more health-conscious as a result of the first. They are eager to know how the food they eat is packaged. They also ask what the packaging is for these products. Most people believe that a sanitary package makes for safer food, too. Here too, the people are growing rich. Because of this, consumers can buy products (foods and drugs) displayed in attractive packaging. Another reason is that Asians want their foods and medications to be delivered in environmentally friendly packaging.

During the period covered, smart packaging is expected to have its largest market share in North America. This is partly due to concern over food waste on the part of people. With many Americans hungry and hunger becoming a bigger concern in America, most Americans want to make sure as little of the food is wasted. If extra food is tightly wrapped to keep it fresh for as long as possible, this should be a breeze.

COVID-19 Impact Analysis on Smart Packaging Market.

A smart packaging, then is a device to boost the engine's efficiency and power. A sensor-equipped packaging system called smart packing is used for some kinds of objects, such as foods and drugs. The intelligent packaging technology can help to raise the quality of products, extend shelf lives and improve safety for both customers and products. When packaged with intelligent technology, these smart systems deliver information on the quality and freshness of the product.

In particular, restrictions on industrial operations triggered by the COVID-19 epidemic also hampered installation of new smart packing systems, in turn slowing development of the market for smart packaging. Furthermore, during the lockdown smart packaging solutions could not be sold effectively through OEMs. The main factors promoting its development are the increasing sophistication of packaging requirements in food processing and pharmaceutical industries; arousing conscience among consumers to reduce wastage when eating fruits, meat and vegetables; and creating more demand for packages which can interact with other products. Moreover, the booming E-commerce market is also expected to create even better opportunities for those in the industry.

The sensors and radio frequency identification (RFID) used for packaging suitability assessments, which are responsible directly or indirectly for all these failures of mass applications in the area of packaging systems, have added to costs so that better packing is more expensive than traditional forms. Moreover, it collects data on the clients. In manufacturers 'eyes there is a possibility that later this could become exploitative and tense situations which influence market development were created.

In addition, the outbreak of COVID-19 also hit hard on hotels; tourists; industry and construction. Manufacturing operations were either closed down or scaled back. Worldwide, supply networks for the building and transport industries were disrupted. This effectively reduced the supply of and need for smart packaging, causing barriers to expanding the market. Businesses on the other hand began to provide their usual products and services. The two smart packaging businesses resumed normal operations, and by the end of 2021 they had helped bring back a functioning market.

Top Key Players Covered 

1. 3M
2. Avery Dennison Corporation
3. Ball Corporation
4. BASF SE,
5. Crown
6. International Paper
7. R.R. Donnelley & Sons Company
8. Stora Enso
9. Sysco Corporation
10. Zebra Technologies Corp. (Temptime Corporation)

Key Industry Developments in the Smart Packaging Market

• In April 2019, Tetra Pak launched a linked packaging platform that would turn milk and juice cartons into information channels, data carriers of some heft and technological instruments. With improved supply chain visibility for retailers, distributors will be able to track stock movements and retrieve real-time information.
• How the MGM flexible packaging branch came to be purchased by Sealed Air in February 2019. MGM is a renowned packaging firm which provides flexible food packaging materials for consumer packaged goods markets in Southeast Asia. The two major goals of the purchase are strengthening its presence in Asia-Pacific and improving its printing and laminating capabilities.

Table of Contents

1. Introduction Of Global Smart Packaging Market
   1. Overview of the Market
   2. Scope of Report
   3. Assumptions
2. Executive Summary
3. Research Methodology
   1. Data Mining
   2. Validation
   3. Primary Interviews
   4. List of Data Sources
4. Global Smart Packaging Market Outlook
   1. Overview
   2. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
   3. Porters Five Force Model
      1. Bargaining Power of Suppliers
      2. Threat of New Entrants
      3. Threat of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power among Buyers
   4. Value Chain Analysis
5. Global Smart Packaging Market, By Layer
   1. Overview
   2. Active Packaging
      1. Oxygen Scavengers
      2. Moisture Scavengers
      3. Self-Venting Films
      4. Ethylene Scavengers &Emitters
      5. Microwave Susceptors
      6. Antibacterial Films
      7. Temperature Control Packaging
      8. Carbon Dioxide Scavengers/Emitters
      9. Ethanol Emitters
      10. Flavour/Odour Absorbers
      11. Antioxidants
   3. Intelligent Packaging
   4. Indicators
   5. Sensors
      1. Bio Sensors
      2. Gas Sensors
   6. Data Carriers
      1. Barcodes
         1. 2D Matrix Codes
         2. Quick Response Codes
         3. Augmented Matrix Codes
      2. RFID Tags
   7. Modified Atmosphere Packaging
6. Global Smart Packaging Market, By Application
   1. Overview
   2. Food & beverage
   3. Personal care
   4. Automotive
   5. Healthcare
   6. Others
7. Global Smart Packaging Market, By Material
   1. Overview
   2. Solid
   3. Liquid
8. Global Smart Packaging Market, By Region
   1. North America
      1. U.S.
      2. Canada
   2. Europe
      1. Germany
      2. U.K.
      3. France
      4. Rest of Europe
   3. Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Singapore
      6. Malaysia
      7. Australia
      8. Thailand
      9. Indonesia
      10. Philippines
      11. Rest of Asia Pacific
   4. Others
      1. Saudi Arabia
      2. U.A.E.
      3. South Africa
      4. Egypt
      5. Israel
      6. Rest of Middle East and Africa (MEA)
      7. Brazil
      8. Argentina
      9. Mexico
      10. Rest of South America
9. Company Profiles
   1. 3M
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   2. Avery Dennison Corporation
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   3. Ball Corporation
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   4. BASF SE
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   5. Crown
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   6. International Paper
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   7. R.R. Donnelley & Sons Company
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   8. Stora Enso
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   9. Sysco Corporation
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   10. Zebra Technologies Corp. (Temptime Corporation)
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News

Global Smart Packaging Market Segmentation

Smart Packaging by Type: Market Size & Forecast 2024-2032

• Active Packaging
  • Oxygen Scavengers
  • Moisture Scavengers
  • Self-Venting Films
  • Ethylene Scavengers &Emitters
  • Microwave Susceptors
  • Antibacterial Films
  • Temperature Control Packaging
  • Carbon Dioxide Scavengers/Emitters
  • Ethanol Emitters
  • Flavour/Odour Absorbers
  • Antioxidants
• Intelligent Packaging
  • Indicators
  • Sensors
    • Bio Sensors
    • Gas Sensors
  • Data Carriers
    • Barcodes
      • 2D Matrix Codes
      • Quick Response Codes
      • Augmented Matrix Codes
    • RFID Tags
• Modified Atmosphere Packaging

Smart Packaging by Application: Market Size & Forecast 2024-2032

• Food & beverage
• Personal care
• Automotive
• Healthcare
• Others

Smart Packaging by Material: Market Size & Forecast 2024-2032

• Solid
• Liquid

Smart Packaging by Geography: Market Size & Forecast 2024-2032

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

• 3M
• Avery Dennison Corporation
• Ball Corporation
• BASF SE,
• Crown
• International Paper
• R.R. Donnelley & Sons Company
• Stora Enso
• Sysco Corporation
• Zebra Technologies Corp. (Temptime Corporation)