Smart Packaging Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Smart Packaging Market was valued at USD 21.3 billion in 2023, with projections indicating a growth rate of over 8% CAGR from 2024 to 2032, primarily fueled by rising demands for product safety and extended shelf life.

Concerns about sustainability are accelerating this market expansion. With both governments and consumers advocating for eco-friendly packaging, companies are innovating with materials that are not only smart but also sustainable. Manufacturers are increasingly focusing on smart packaging solutions that minimize waste, optimize resource use, and enhance recyclability. This alignment with global sustainability goals is a significant driver of the market growth.

Companies are also increasingly adopting closed-loop recycling systems, a move towards establishing a circular economy in packaging. These systems prioritize reusing and recycling materials, aiming to reduce waste and conserve resources. Furthermore, investments in cutting-edge technologies streamline the collection, sorting, and processing of packaging materials for facilitating their reintegration into the production cycle.

The overall industry is divided into technology, application, packaging type, material, and region.

The market categorizes technology into three segments, active packaging, intelligent packaging, and modified atmosphere packaging. Notably, the intelligent packaging segment is projected to witness a CAGR exceeding 10% through 2032. With features like QR codes, NFC, and Augmented Reality (AR), intelligent packaging boosts consumer engagement and offers enriched product information. This heightened demand for interactive and informative packaging is a key driver of the market growth.

Divided into solid and liquid categories, the smart packaging market anticipates the solid segment leading with revenues surpassing USD 25 billion by 2032. Solid materials, including plastics, glass, and metals, find extensive application in sectors like consumer goods, food and beverages, pharmaceuticals, and personal care. Their durability, protective qualities, and handling convenience make them the go-to choice for packaging. Such robustness not only secures products but also extends their shelf life for ensuring quality and safety.

In 2023, North America led the global smart packaging market with a commanding share of over 35%. The region's robust technological infrastructure and a culture of innovation are pivotal in the swift adoption of smart solutions, including RFID and NFC technologies, across diverse industries. Moreover, North American firms are leveraging smart packaging for enhanced supply chain efficiency and deeper consumer engagement, on account of features like real-time tracking.

Product Code: 11007

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021-2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Technological innovations in smart packaging
  - 3.8.1.2 Increasing consumer demand for transparency
  - 3.8.1.3 Focus on sustainable packaging solutions
  - 3.8.1.4 Regulatory compliance and safety standards
  - 3.8.1.5 E-commerce growth boosts packaging needs
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 High costs of advanced technologies
  - 3.8.2.2 Complexity in technology integration
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Technology, 2021-2032 (USD Million)

5.1 Key trends
5.2 Active packaging
- 5.2.1 Oxygen scavengers
- 5.2.2 Moisture absorbers
- 5.2.3 Ethylene absorbers
- 5.2.4 Antimicrobial agents
- 5.2.5 Temperature control packaging
- 5.2.6 Flavor/Odor absorbers
5.3 Intelligent packaging
- 5.3.1 Time-temperature Indicators (TTIs)
- 5.3.2 RFID tags and QR codes
- 5.3.3 Freshness indicators
- 5.3.4 Gas sensors
- 5.3.5 Smart labels
- 5.3.6 Interactive packaging
5.4 Modified atmosphere packaging

Chapter 6 Market Estimates and Forecast, By Application, 2021-2032 (USD Million)

6.1 Key trends
6.2 Food and beverages
6.3 Healthcare and pharmaceuticals
6.4 Cosmetics and personal care
6.5 Logistics and transportation
6.6 Automotive and industrial products
6.7 Consumer electronics
6.8 Others

Chapter 7 Market Estimates and Forecast, By Packaging Type, 2021-2032 (USD Million)

7.1 Key trends
7.2 Primary packaging
7.3 Secondary packaging
7.4 Tertiary packaging

Chapter 8 Market Estimates and Forecast, By Material, 2021-2032 (USD Million)

8.1 Key trends
8.2 Solid
8.3 Liquid

Chapter 9 Market Estimates and Forecast, By Region, 2021-2032 (USD Million)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 3M Company
10.2 Air Products and Chemicals, Inc.
10.3 Amcor Plc
10.4 Amerplast Ltd.
10.5 Avery Dennison Corporation
10.6 BASF SE
10.7 Constantia Flexibles
10.8 DuPont
10.9 EMCO Packaging Systems Ltd.
10.10 Filtration Group
10.11 Huhtamaki Group
10.12 International Paper Company
10.13 Meadwestvaco Corporation
10.14 Multisorb Technologies Inc.
10.15 Paksense
10.16 R.R. Donnelley and Sons Company
10.17 Sealed Air
10.18 Smurfit Kappa Group plc
10.19 Sonoco Products Company
10.20 Stora Enso Oyj
10.21 Temptime Corporation
10.22 Thin Film Electronics ASA
10.23 UPM-Kymmene Corporation
10.24 Zebra Technologies Corporation