Smart Packaging Market Updates

Smart Packaging Market size was valued at USD 267.62 Billion in 2023 and is poised to grow from USD 284.21 Billion in 2024 to USD 459.88 Billion by 2032, growing at a CAGR of 6.2% during the forecast period (2025-2032).

The key smart packaging market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also pursuing a variety of strategic actions to increase their global footprint. In order to grow and remain in a market that is becoming more and more competitive, competitors in the packaging sector must provide affordable products. '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)'

With the rise of e-commerce activities, the demand for packaging materials has increased significantly. The need for durable, secure, and lightweight packaging solutions for safe transportation of products has boosted the growth of the packaging market.

When a product is sold on a big scale through a store or outlet that is organised, such as a supermarket, hypermarket, or department store, that activity is referred to as organised retail. These organised sellers need a lot of merchandise packaged and delivered in a way that ensures the goods' quality and safety. In the retail sector, packaging is extremely important because it safeguards goods against damage while in transit, preserves their quality and freshness, and creates a visually appealing presentation to draw in customers.

With the biggest market share in the smart packaging industry, Asia-Pacific is currently the largest packaging market in the world. The region's huge and expanding population, rising consumer expenditure, and growing urbanization are a few reasons for this. The demand for packaged goods is increasing along with the population in the Asia-Pacific region, particularly in the food and beverage and healthcare sectors. The emergence of organized retail and e-commerce sectors in the area as a result of the rapid urbanization has also increased the demand for packaging solutions. Additionally, a lot of businesses in the packaging sector have relocated their production operations to Asia-Pacific due to the region's affordable labor and welcoming business environment.