Smart Packaging Market

Smart Packaging Market Size, Share & Trends Analysis Report

Smart Packaging Market Size, Share & Trend Analysis 2029

Report ID : AIMR 135
Number of pages : 200
Published Date : Apr 2023
Category : Smart Technologies
Delivery Timeline : 48 hrs

Global Smart Packaging Market is valued at USD 44.99 Billion in 2022 and it is expected to reach USD 66.58 Billion by 2029 with a CAGR of 5.76% over the forecast period.

Global Smart Packaging Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2029: The market will expand due to the growing demand for product authenticity and anti-counterfeiting measures, and increasing adoption of e-commerce and home delivery services.

Scope -

Smart packaging refers to the use of intelligent materials, sensors, and other innovative technologies in packaging to improve the performance, functionality, and sustainability of the packaging industry. It enables communication, identification, and data collection, which can be used for a variety of purposes such as supply chain management, product quality control, and consumer engagement.

The concept of smart packaging has been around since the 1990s, but it was not until the early 2000s that the technology became more sophisticated and affordable. In the early days, smart packaging was primarily used for anti-counterfeiting and tamper-evident purposes. However, with the advancement of technology, smart packaging has evolved to become more complex, offering features such as temperature control, freshness monitoring, and interactive labeling.

Smart packaging has various applications across industries such as food and beverage, healthcare, cosmetics, and electronics. In the food industry, smart packaging can be used to monitor freshness, prevent spoilage, and ensure food safety. In healthcare, smart packaging can be used to track medication adherence, monitor patient health, and provide dosage instructions. In cosmetics, smart packaging can be used to monitor shelf life and track usage, while in electronics, it can be used for tamper-proofing and theft prevention.

The end-users of smart packaging are primarily businesses that use packaging as part of their product distribution and marketing strategies. These include manufacturers, distributors, retailers, and e-commerce companies.

COVID-19 Impact on the Smart Packaging Market:

The COVID-19 pandemic has had both positive and negative impacts on the smart packaging market. On the positive side, there has been a greater demand for smart packaging solutions that can help ensure the safety and quality of food and other products during transportation and storage. Smart packaging solutions that offer real-time monitoring of temperature, humidity, and other environmental factors have become more critical in the wake of the pandemic.

On the negative side, the pandemic has disrupted supply chains and caused economic uncertainty, which has led to a slowdown in some segments of the smart packaging market. Companies have been forced to scale back their investments in research and development and focus on immediate cost-cutting measures to weather the crisis.

Key Players -

  • Amcor Limited
  • Bemis Company Inc.
  • Avery Dennison Corporation
  • Crown Holdings Inc.
  • DuPont de Nemours Inc.
  • Huhtamaki Oyj
  • Sealed Air Corporation
  • Smurfit Kappa Group plc
  • Stora Enso Oyj
  • Temptime Corporation
  • Thin Film Electronics ASA
  • UPM-Kymmene Oyj
  • VIPColor Technologies
  • 3M Company
  • CCL Industries Inc.
  • Checkpoint Systems Inc.
  • Graphic Packaging Holding Company
  • International Paper Company
  • Schott AG
  • Sonoco Products Company
  • WestRock Company
  • Mitsubishi Gas Chemical Company Inc.
  • American Thermal Instruments Inc.
  • Intelligent Packaging Solutions Limited
  • PakSense Inc.
  • Thin Film Electronics AB
  • Vitsab International AB
  • Smartmatic International Holding B.V.
  • Jones Packaging Inc.T-Ink Inc.
  • Xerox Corporation
  • Flex Ltd.
  • Multisorb Technologies Inc.
  • SPGPrints B.V.
  • Bostik SA
  • Air Products and Chemicals Inc.
  • CymMetrik Enterprise Co. Ltd.
  • Seiko Epson Corporation
  • Toppan Printing Co.Ltd.
  • Taghleef Industries Group
  • Teraoka Seiko Co.Ltd.
  • Timestrip UK Ltd.
  • NXP Semiconductors N.V.
  • Emerson Electric Co.
  • Giesecke+Devrient GmbH
  • Gentherm Incorporated
  • Intellipack Inc.
  • Thin Film Electronics Inc.
  • Blue Spark Technologies Inc.
  • Pack-Smart Inc.
  • Bemis Co Inc
  • Enfucell Oy
  • Printed Electronics Ltd.
  • R. Donnelley & Sons Company
  • Smartrac N.V.
  • Others


By Technology:

  • 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
  • RFID Tags
  • Modified Atmosphere Packaging

By Material:

  • Plastic
  • Glass
  • Paper & Paperboard
  • Metal

By Application:

  • Food And Beverages
  • Pharmaceuticals
  • Personal Care
  • Automotive
  • Household Goods
  • Electronics

Revenue Generation Model:

The revenue generation model for smart packaging can vary depending on the application and business model. It can include sales of the smart packaging products themselves, subscription-based services, or revenue-sharing agreements with partners in the supply chain.

Supply Chain Model:

The supply chain for smart packaging can be complex, involving multiple stakeholders such as material suppliers, technology providers, packaging manufacturers, logistics providers, and end-users. Integration and collaboration between these stakeholders are critical to ensure the successful deployment of smart packaging solutions.

Value Chain Model:

The value chain for smart packaging involves various stages, including design, development, manufacturing, testing, deployment, and maintenance. Each stage involves different processes, skills, and technologies that contribute to the overall value of the smart packaging solution.

Market Drivers:

Increasing adoption of e-commerce and home delivery services: The increasing adoption of e-commerce and home delivery services has been a significant driver for the growth of the smart packaging market. As more consumers rely on online shopping and delivery services, there is a growing need for packaging that is durable, efficient, and can ensure the safe delivery of goods. Smart packaging solutions can help address these challenges by providing real-time tracking and monitoring capabilities, ensuring product quality and freshness, and improving overall supply chain efficiency.

However, e-commerce sales worldwide are expected to reach $4.9 trillion by 2025, up from $3.5 trillion in 2019. In the United States, online sales accounted for 14.3% of total retail sales in 2020, up from 11% in 2019. Additionally, McKinsey & Company found that online grocery shopping grew by 45% during the COVID-19 pandemic. And Accenture found that 60% of consumers worldwide increased their online shopping during the pandemic, with 80% saying they plan to continue shopping online at the same or higher levels in the future.

Growing demand for product authenticity and anti-counterfeiting measures: There is a growing demand for product authenticity and anti-counterfeiting measures, particularly in industries such as pharmaceuticals, food and beverage, and luxury goods. Smart packaging technology is being developed to provide improved traceability and security measures to prevent the spread of counterfeit products in the market.

For example, Pharmaceutical Security Institute (PSI), there were 4,039 reported cases of pharmaceutical crime in 2020, including incidents of counterfeiting, theft, and diversion. And a study by the European Union Intellectual Property Office (EUIPO) found that the annual loss to the food and beverage industry due to counterfeiting is estimated to be around EUR 14.3 billion in the EU alone. The study also found that food and beverage products were the most commonly counterfeited goods in the EU, accounting for 24% of all seizures.

Market Restraints:

High Cost: The high cost associated with the development and implementation of smart packaging solutions is a significant restraint on their adoption. The cost of implementing a smart packaging solution can vary widely depending on the technology involved, the level of integration with existing systems, and the scale of the deployment. Additionally, ongoing maintenance and support costs can also be a factor in the total cost of ownership for these solutions. For example, the cost of implementing an RFID-based tracking system for a typical small-to-medium-sized enterprise can range from $10,000 to $50,000, while larger enterprises may spend upwards of $100,000 to $500,000 or more.

Opportunity Factors:

  • Growing demand for sustainable and eco-friendly packaging solutions
  • Increasing adoption of e-commerce and home delivery services
  • Rising awareness of food safety and security
  • Need for more efficient supply chain management and logistics
  • Growing demand for product authenticity and anti-counterfeiting measures
  • Increasing interest in personalized and interactive packaging solutions

Market Trend:

Product and Technology Development:

  • Integration of RFID (radio-frequency identification) technology in packaging
  • Development of smart labels with QR codes or NFC (near-field communication) technology
  • Use of blockchain technology for supply chain traceability and authentication
  • Incorporation of sensors and IoT (Internet of Things) technology for real-time monitoring of product quality and safety.

Customer Trends:

  • Preference for packaging that is easy to open and use
  • Demand for personalized and customized packaging solutions
  • Increasing interest in packaging that offers added value beyond the product itself, such as recipes or tips
  • Growing awareness of environmental concerns and preference for sustainable packaging solutions

Market Competition Nature:

The competition in the smart packaging market is intense with the presence of several global and regional players. The key players in the market include Amcor Limited, Avery Dennison Corporation, BASF SE, DuPont de Nemours, Inc., International Paper Company, Sealed Air Corporation, Stora Enso Oyj, Smartrac N.V., 3M Company, and Temptime Corporation, among others.

To stay competitive and increase market share, these players have implemented several strategies such as mergers and acquisitions, partnerships and collaborations, and new product launches. For instance, in 2021, Amcor acquired the privately-owned packaging company, ACI, to strengthen its position in the healthcare packaging market. In the same year, Avery Dennison launched a new NFC label for food and beverage packaging to enhance consumer engagement.

Going forward, key market players are expected to focus on research and development activities to launch innovative products and cater to the evolving needs of end-users. Additionally, expanding their product portfolios and strengthening their distribution networks to increase their market reach is likely to be the key strategies adopted by the players. Moreover, strategic partnerships and collaborations with technology providers and end-users are expected to help players in gaining a competitive edge in the market.

Geography Analysis:

North America: North America is a significant market for smart packaging solutions due to the increasing demand for packaged food and beverages and the growing awareness of product authenticity and anti-counterfeiting measures. The presence of major companies and high investment in research and development activities also contribute to the growth of the market in the region. In the US, the organic packaged food and beverage market was valued at USD 21.1 billion in 2020, with fruits and vegetables being the largest category. And in Canada, the non-alcoholic beverage market was valued at CAD 22.3 billion in 2020, with carbonated soft drinks being the largest category.

Europe: Europe is one of the major regions in the smart packaging market. The market growth in this region is driven by factors such as the increasing demand for food safety and the growing awareness of product authenticity and anti-counterfeiting measures. The European region is also known for its stringent regulations and standards governing the use of smart packaging solutions in various industries. Europeans are concerned about the risk of counterfeit goods, and 70% of consumers would be willing to pay more for products with anti-counterfeiting measures.

Additionally, the European Union Intellectual Property Office (EUIPO) 2020 estimated that the total economic cost of counterfeiting and piracy in the EU was €60 billion in 2018, with the highest value sectors affected being luxury goods, clothing, and accessories.

By Regional & Country Level:

  • North America

    • US.
    • Canada
  • Europe

    • UK.
    • France
    • Germany
    • Italy
  • Asia Pacific

    • China
    • Japan
    • India
    • Southeast Asia
  • Latin America

    • Brazil
    • Mexico
  • Middle East and Africa

    • GCC
    • Africa
    • Rest of Middle East and Africa

Key Benefits of Global Smart Packaging Market Report–

  • Global Smart Packaging Market report covers in-depth historical and forecast analysis.
  • Global Smart Packaging Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country Level.
  • Global Smart Packaging Market report helps to identify opportunities in the marketplace.
  • Global Smart Packaging Market report covers extensive analysis of emerging trends and competitive landscape.