Global Internet of Packaging Market - Industry Key Growth Factor Analysis & Research Study 2023

Market Overview:

The Global Internet of Packaging Market size was reasonably estimated to be approximately USD 23970 Million in 2023 and is poised to generate revenue over USD 47850 Million by the end of 2030, projecting a CAGR of around 10.30% from 2023 to 2030.            

The Internet of Packaging (IoP) Market refers to the integration of packaging with Internet of Things (IoT) technologies to create smart and connected packaging solutions. IoP enables packaging to interact with digital devices and networks, facilitating real-time data collection, monitoring, and communication. These smart packaging solutions offer numerous benefits, such as product traceability, quality assurance, consumer engagement, and supply chain optimization.

The global Internet of Packaging Market has witnessed significant growth in recent years, driven by the increasing demand for product visibility, rising focus on sustainability and waste reduction, advancements in IoT technologies, and the need for improved supply chain efficiency.

Leading companies reviewed in the Internet of Packaging Market report is:

Avery Dennison Corporation (US), Smartrac N.V. (Netherlands), BASF SE (Germany), Thin Film Electronics Asa (Norway), Stora Enso Oyj (Finland), Tetra Pak (Switzerland), Kezzler (Norway), Digimarc Corporation (US), Evrythng Limited (UK), Thinfilm Electronics Ab (Sweden), Scanbuy Inc. (US), Identiv Inc. (US), Smartglyph Ltd. (UK), E Ink Holdings Inc. (Taiwan), Paksense Inc. (US), Schreiner Group Gmbh & Co. Kg (Germany), Smart Label Solutions (Spain), Gao Rfid Inc. (Canada), Systech International (Us), Tracelink Inc. (US) and Other Major Players.

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Market Dynamics:

Driver:

Product Traceability and Anti-Counterfeiting: The IoP enables the implementation of track-and-trace capabilities in packaging, providing product visibility throughout the supply chain. This enhances traceability, helps combat counterfeiting, and ensures product authenticity, which is crucial in industries such as pharmaceuticals, food, and luxury goods. Smart packaging solutions enable direct interaction between brands and consumers through connected devices. IoP-enabled packaging can deliver personalized content, promotions, and product information, enhancing consumer engagement and loyalty.

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Opportunities:

Regulatory Compliance and Safety: The adoption of IoP in industries such as pharmaceuticals and food can aid in ensuring compliance with stringent regulations. Smart packaging can provide temperature monitoring, tamper-evident features, and other safety measures, ensuring product integrity and consumer safety. The IoP presents an opportunity for packaging manufacturers and brands to address sustainability challenges. Smart packaging solutions can help reduce waste by optimizing packaging sizes, extending shelf life, and enhancing recycling efforts, aligning with consumer demands for eco-friendly products. In conclusion, the Internet of Packaging Market is driven by the need for product traceability, consumer engagement, and supply chain optimization. Companies operating in this market can capitalize on opportunities related to sustainability and waste reduction, real-time inventory management, regulatory compliance, and data-driven marketing and insights to foster growth and success in the Internet of Packaging industry.

Segmentation Analysis of The Internet of Packaging Market

·       Internet of Packaging market segments covers the Technology Deployed and Industry Verticals. By Technology Deployed, Sensor & Tags segment is Anticipated to Dominate the Market Over the Forecast period.

 

·       The dominance of the Sensor & Tags segment in the Internet of Packaging (IoP) market over the forecast period is indeed anticipated. Sensor and tag technologies play a crucial role in enabling smart and connected packaging solutions by providing real-time data collection, monitoring, and communication capabilities.

 

·       Sensors and tags embedded in packaging enable real-time monitoring and tracking of various parameters such as location, temperature, humidity, light exposure, and shock/vibration. This information is essential for ensuring product quality, safety, and compliance throughout the supply chain. Real-time monitoring helps detect issues or deviations promptly, allowing for timely intervention and corrective actions

By Technology Deployed

·       Sensor & Tags

·       Barcode & QR code

·       Radio Frequency Identification

·       Low-Energy Bluetooth

·       NFC Technologies

·       Indicators

By Industry Verticals

·       Personal & Home care

·       Health care

·       Food & Beverages

·       Automotive

·       Consumer Electronics

·       Others

Regional Analysis of The Internet of Packaging Market

Asia Pacific is Expected to Dominate the Market Over the Forecast Period.

·       The Asia Pacific region has a massive consumer base, including both established and emerging markets. The rising disposable incomes, urbanization, and changing consumer preferences in countries like China, India, Japan, and South Korea are driving the demand for innovative packaging solutions. This growing consumer base creates a significant market opportunity for IoP technologies and solutions.

·       The Asia Pacific region has experienced substantial growth in e-commerce activities, fueled by factors such as increasing internet penetration, smartphone adoption, and changing shopping behaviours. As e-commerce continues to expand, the demand for efficient and secure packaging solutions rises.

·       North America

o   US

o   Canada

o   Mexico

 

·       Eastern Europe

o   Bulgaria

o   The Czech Republic

o   Hungary

o   Poland

o   Romania

o   Rest of Eastern Europe

 

·       Western Europe

o   Germany

o   UK

o   France

o   Netherlands

o   Italy

o   Russia

o   Spain

o   Rest of Western Europe

 

·       Asia Pacific

o   China

o   India

o   Japan

o   South Korea

o   Malaysia

o   Thailand

o   Vietnam

o   The Philippines

o   Australia

o   New Zealand

o   Rest of APAC

 

·       Middle East & Africa

o   Turkey

o   Bahrain

o   Kuwait

o   Saudi Arabia

o   Qatar

o   UAE

o   Israel

o   South Africa

 

·       South America

o   Brazil

o   Argentina

o   Rest of SA

 

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Key Industry Developments in the Internet of Packaging Market

In May 2023, the Collaboration project shown multi-layer packaging can be separated and recycled on an industrial scale. A collaboration project involved the companies BASF, Krones, SÜDPACK, and TOMRA demonstrated that it is possible to separate PET/PE multi-layer packaging into its components and return them to the materials cycle as raw materials.

 

In June 2021, establishing its emergence as a leading innovator in the solid-state micro battery market, Thinfilm announced that it will become Ensurge Micropower ASA. This new identity builds on the company's fundamental transformation and reflected its differentiation and rapid progress in technology, product, and manufacturing innovation.

 

The report provides insights on the following pointers:

1.     Market Penetration: Offers comprehensive information on the market offered by the key players

2.     Market Analysis: Provides detailed information on lucrative growing markets and examines market penetration across mature segments.

3.     Market Diversification: Details regarding new product launches, untapped geographies, recent developments, and investments are provided.

4.     Competitive Landscape: Provides an in-depth analysis of the top companies' market shares, strategies, products, certification, regulatory approvals, patent landscape, and production capabilities.

5.     Industry Dynamics and Factors: Offers insightful information about future technologies, R&D initiatives, and game-changing product breakthroughs.

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The report covers exhaustive analysis on:

•The market size and industry growth rate of the global and regional market across various segments

•Based on extensive primary and secondary research this report provides comprehensive and granular data

•Key technological advancements and market trends that shape the market

•Brand dynamics and distribution trends in order to effectively plan strategies in the forecast period 2023-2030

•Key companies operating in this market and their market share.

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