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From its 2022 valuation of USD 237.38 billion, the smart packaging market is expected to increase at a CAGR of 9.2% from 2023’s USD 258 billion to 2030’s USD 383.99 billion.
Demand for packaged goods is rising, and sustainability and environmentally friendly packaging are becoming increasingly important factors in the market. According to the Indian Institute of Packaging (IIP), India's annual per capita consumption of packaging has increased by 200% over the past decade, from 4.3 kg in FY10 to 8.6 kg in FY20. Despite a meteoric rise over the previous decade, this industry still has enormous growth potential when compared to other wealthy countries throughout the world. The worldwide packaging industry has expanded substantially over the past decade as a result of altering consumer tastes in substrates, the development of new markets, and changes in the composition of industry ownership. Rigid pack forms, such as metal cans and glass jars, may face further competition from flexible packaging, high-barrier films, and stand-up retort pouches for a wide range of food products. As the market for sugary treats continues to expand, many companies that specialize in flexible plastic packaging have developed new products to fulfill this rising demand. The US Census Bureau, for one, predicts that the candy manufacturing industry in the USA would bring in USD 10.89 billion in sales in FY 2023. Demand for sustainable products from the food & beverage and pharmaceutical industries is expected to drive market expansion. Over the forecast period, rising investment in R&D to reduce emissions is also projected to fuel expansion.
The Technology Landscape of the Smart Packaging Market
Active packaging is expected to maintain its status as the industry's most lucrative subsector, accounting for 72.2% of total revenue in 2022 and beyond. The market is expected to expand because of the product's superior ability to prevent mold growth and corrosion. Rising industrialisation in emerging nations like China and India, as well as increased need for supply chain and logistics management, are predicted to boost the market throughout the forecasted period.
Intelligent packaging is projected to grow at the quickest rate in terms of revenue share in 2022. The product category captured 27.8 percent of the market in 2022. Improved user experience and rapid iteration on products are two other advantages.
Market Analysis of Intelligent Packaging by Application
During the forecast period of 2023-2030, the Food & Beverages sector, which held the largest share of the market in 2022, is expected to grow at a faster clip. Packaging plays a crucial role in the food and beverage industry by safeguarding goods while they are in transit and preventing contamination. Flexible packaging, rigid plastic packaging, paper and board packaging, and metal packaging are just few of the many types of packaging used in the food and beverage industry. There is a positive correlation between these many characteristics of packaging and increased sales.Over the forecast period, the personal and home care application category is expected to increase at a revenue rate of more than 4.4%. This sector has flourished as a result of rising consumer awareness of the need of personal hygiene. Health and wellness consciousness is on the rise in developing countries, and this is expected to have a major impact on the segment's growth throughout the forecast period as more and more people seek for clean label or plant-based cosmetics.
Influencers of the Smart Packaging Market
Increased online shopping is fueling business expansion.
The need for packing has grown rapidly alongside the expansion of online trade. The expansion of the packaging industry can be attributed to the rising demand for reliable, secure, and lightweight packaging options for the safe transit of products.
The increasing need for environmentally friendly packaging options is a key development in the Smart packaging industry worldwide. Companies are responding to rising consumer interest in "green" packaging by providing options that have less of an environmental impact. Packaging designs that cut down on waste and have a smaller overall impact on the environment fall under this category.
Limitations of the Smart Packaging Industry
Market Growth May Be Slowed By Uncertainty In Transportation And Logistics
In order to go to their final destinations, packaging materials and finished goods must first be moved and stored. Profit margins for packaging businesses, especially those with a global reach, can be severely impacted by the high expenses of transportation and logistics.
Major Tendencies in the Market
"Organised retail" refers to the sale of goods in a systematic manner by stores like supermarkets, hypermarkets, and department stores. These well-organized retailers want large quantities of products shipped to them in a secure and reliable manner. Packaging plays a crucial role in the retail industry since it protects products during shipping, keeps them fresh, and makes them more aesthetically pleasing to potential buyers. As the importance and size of organized retail has grown, so has the need for appropriate packaging.
Report Coverage
Global Smart Packaging research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Smart Packaging report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Smart Packaging competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Smart Packaging market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Smart Packaging market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Smart Packaging market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Amcor plc (Australia), Sealed Air Corporation (US), Berry Global Inc. (US), Mondi plc (UK), Sonoco Products Company (US), WestRock Company (US), Huhtamaki Oyj (Finland), International Paper Company (US), Coveris Holdings S.A. (Luxembourg), AptarGroup, Inc. (US), Smurfit Kappa Group plc (Ireland), DS Smith plc (UK), Bemis Company, Inc. (US), Aptean (US), Uflex Ltd. (India), Graphic Packaging Holding Company (US), Tetra Pak International S.A. (Switzerland), Crown Holdings Inc. (US), Gerresheimer AG (Germany), Aptargroup Inc. (US), RPC Group plc (UK), SIG Combibloc Group AG (Switzerland)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Smart Packaging market based on the below-mentioned segments:
Global Smart Packaging Market, By Technology
Active
modified
Intelligent
Global Smart Packaging Market, By End User
Food & Beverages
Personal & Household Care
Consumer Goods
Industrial
Global Smart Packaging market, Regional Analysis
Demand for packaged goods is rising, and sustainability and environmentally friendly packaging are becoming increasingly important factors in the market. According to the Indian Institute of Packaging (IIP), India's annual per capita consumption of packaging has increased by 200% over the past decade, from 4.3 kg in FY10 to 8.6 kg in FY20. Despite a meteoric rise over the previous decade, this industry still has enormous growth potential when compared to other wealthy countries throughout the world. The worldwide packaging industry has expanded substantially over the past decade as a result of altering consumer tastes in substrates, the development of new markets, and changes in the composition of industry ownership. Rigid pack forms, such as metal cans and glass jars, may face further competition from flexible packaging, high-barrier films, and stand-up retort pouches for a wide range of food products. As the market for sugary treats continues to expand, many companies that specialize in flexible plastic packaging have developed new products to fulfill this rising demand. The US Census Bureau, for one, predicts that the candy manufacturing industry in the USA would bring in USD 10.89 billion in sales in FY 2023. Demand for sustainable products from the food & beverage and pharmaceutical industries is expected to drive market expansion. Over the forecast period, rising investment in R&D to reduce emissions is also projected to fuel expansion.
The Technology Landscape of the Smart Packaging Market
Active packaging is expected to maintain its status as the industry's most lucrative subsector, accounting for 72.2% of total revenue in 2022 and beyond. The market is expected to expand because of the product's superior ability to prevent mold growth and corrosion. Rising industrialisation in emerging nations like China and India, as well as increased need for supply chain and logistics management, are predicted to boost the market throughout the forecasted period.
Intelligent packaging is projected to grow at the quickest rate in terms of revenue share in 2022. The product category captured 27.8 percent of the market in 2022. Improved user experience and rapid iteration on products are two other advantages.
Market Analysis of Intelligent Packaging by Application
During the forecast period of 2023-2030, the Food & Beverages sector, which held the largest share of the market in 2022, is expected to grow at a faster clip. Packaging plays a crucial role in the food and beverage industry by safeguarding goods while they are in transit and preventing contamination. Flexible packaging, rigid plastic packaging, paper and board packaging, and metal packaging are just few of the many types of packaging used in the food and beverage industry. There is a positive correlation between these many characteristics of packaging and increased sales.Over the forecast period, the personal and home care application category is expected to increase at a revenue rate of more than 4.4%. This sector has flourished as a result of rising consumer awareness of the need of personal hygiene. Health and wellness consciousness is on the rise in developing countries, and this is expected to have a major impact on the segment's growth throughout the forecast period as more and more people seek for clean label or plant-based cosmetics.
Influencers of the Smart Packaging Market
Increased online shopping is fueling business expansion.
The need for packing has grown rapidly alongside the expansion of online trade. The expansion of the packaging industry can be attributed to the rising demand for reliable, secure, and lightweight packaging options for the safe transit of products.
The increasing need for environmentally friendly packaging options is a key development in the Smart packaging industry worldwide. Companies are responding to rising consumer interest in "green" packaging by providing options that have less of an environmental impact. Packaging designs that cut down on waste and have a smaller overall impact on the environment fall under this category.
Limitations of the Smart Packaging Industry
Market Growth May Be Slowed By Uncertainty In Transportation And Logistics
In order to go to their final destinations, packaging materials and finished goods must first be moved and stored. Profit margins for packaging businesses, especially those with a global reach, can be severely impacted by the high expenses of transportation and logistics.
Major Tendencies in the Market
"Organised retail" refers to the sale of goods in a systematic manner by stores like supermarkets, hypermarkets, and department stores. These well-organized retailers want large quantities of products shipped to them in a secure and reliable manner. Packaging plays a crucial role in the retail industry since it protects products during shipping, keeps them fresh, and makes them more aesthetically pleasing to potential buyers. As the importance and size of organized retail has grown, so has the need for appropriate packaging.
Report Coverage
Global Smart Packaging research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Smart Packaging report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Smart Packaging competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Smart Packaging market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Amcor plc (Australia), Sealed Air Corporation (US), Berry Global Inc. (US), Mondi plc (UK), Sonoco Products Company (US), WestRock Company (US), Huhtamaki Oyj (Finland), International Paper Company (US), Coveris Holdings S.A. (Luxembourg), AptarGroup, Inc. (US), Smurfit Kappa Group plc (Ireland), DS Smith plc (UK), Bemis Company, Inc. (US), Aptean (US), Uflex Ltd. (India), Graphic Packaging Holding Company (US), Tetra Pak International S.A. (Switzerland), Crown Holdings Inc. (US), Gerresheimer AG (Germany), Aptargroup Inc. (US), RPC Group plc (UK), SIG Combibloc Group AG (Switzerland) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Smart Packaging Market from 2021 to 2030.
- Market Forecast for Smart Packaging Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Smart Packaging competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Smart Packaging
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Smart Packaging market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Smart Packaging market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Amcor plc (Australia), Sealed Air Corporation (US), Berry Global Inc. (US), Mondi plc (UK), Sonoco Products Company (US), WestRock Company (US), Huhtamaki Oyj (Finland), International Paper Company (US), Coveris Holdings S.A. (Luxembourg), AptarGroup, Inc. (US), Smurfit Kappa Group plc (Ireland), DS Smith plc (UK), Bemis Company, Inc. (US), Aptean (US), Uflex Ltd. (India), Graphic Packaging Holding Company (US), Tetra Pak International S.A. (Switzerland), Crown Holdings Inc. (US), Gerresheimer AG (Germany), Aptargroup Inc. (US), RPC Group plc (UK), SIG Combibloc Group AG (Switzerland)
Primary Target Market
- Market Players of Smart Packaging
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Smart Packaging market based on the below-mentioned segments:
Global Smart Packaging Market, By Technology
Active
modified
Intelligent
Global Smart Packaging Market, By End User
Food & Beverages
Personal & Household Care
Consumer Goods
Industrial
Global Smart Packaging market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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