Press release
Smart Packaging Market Size Expected to Reach USD 41.2 Bn by 2032
Smart Packaging Market Size
The global Smart Packaging Market size is worth around USD 22.4 billion in 2024 and is expected to reach USD 41.2 billion by 2032, registering a solid CAGR of 8.3% from 2024 to 2032.
Smart packaging refers to packaging systems with embedded sensor technology used with foods, pharmaceuticals, and many other types of products. It is used to extend shelf life, monitor freshness, display information on quality, and improve product and customer safety.
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Leading Factors of the Smart Packaging Market
• Increased demand for protection and safety of products is the major factor that drives the market.
• E-commerce boom drives growth in North America due to increased requirement of packaging materials.
• Food and beverage industry is the dominating sector in market due to online-delivery food.
• Providing robust durability through use sustainable solution is an unceasing challenge for the market.
North America is the dominating region in the smart packaging market. The packaging market flourished most due to the booming e-commerce sector which requires robust and safe packaging. The requirement for packaging material has increased the profit margin of manufacturing and industrial sectors and this also fuels the economic growth rate of America. Apart from being conscious about hygiene, shelf life and convenience, American consumers are also aware of the environmental impact the packaging of products causes.
Regional Analysis
Based on geography, the global smart packaging market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, Russia, and Rest of Europe.
Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America. At the same time, the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.
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Major players operating in the smart packaging industry are:
• Amcor Plc
• Avery Dennison Corporation
• BASF SE
• DuPont
• Sealed Air
• Smurfit Kappa Group plc
• Thin Film Electronics ASA
Market segmentation -
By Technology
• Active packaging
o Oxygen scavengers
o Moisture absorbers
o Ethylene absorbers
o Antimicrobial agents
o Temperature control packaging
o Flavor/Odor absorbers
• Intelligent packaging
o Time-temperature Indicators (TTIs)
o RFID tags and QR codes
o Freshness indicators
o Gas sensors
o Smart labels
o Interactive packaging
• Modified atmosphere packaging
By Application
• Food & beverages
• Healthcare & pharmaceuticals
• Cosmetics & personal care
• Logistics & transportation
• Automotive & industrial products
• Consumer electronics
• Others
By Packaging Type
• Primary packaging
• Secondary packaging
• Tertiary packaging
By Material
• Solid
• Liquid
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Recent Market Updates
In April 2024, DS Smith partnered with Bioenzymatic Fuel Cells (BeFC) to develop recyclable smart packaging solutions. The collaboration focuses on enhancing supply chain efficiency by using recyclable paper, real-time tracking, and reducing wastage through accurate product monitoring.
In November 2023, TOPPAN Digital Inc. showcased its smart packaging solutions at the AIPIA World Congress in Amsterdam. The company presented NFC-tagged packaging, an ID authentication platform, and eco-friendly tags, highlighting their efforts to enhance consumer engagement, prevent grey market diversion, and promote sustainable packaging initiatives.
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