Global Smart Packaging Market

Smart Packaging Market Size, Share, Growth Analysis, By Technology(Active, modified, Intelligent), By End Use(Food & Beverages, Personal & Household Care, Consumer Goods, Industrial), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15Q2005 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 64 | Figures: 77

Smart Packaging Market News

  • The French company Bastille Parfums, which specializes in natural and sustainable fragrances, and Avery Dennison partnered in September 2023 to use Avery Dennison's RFID (radio frequency identification) sensor technology to track and trace tagged products throughout Bastille's entire supply chain, enhance inventory control, and reduce the presence of counterfeit goods. 
  • Carlton Packaging unveiled WrapX, a cutting-edge "smart" pallet wrapping system, in October 2023. With its smart features, it aims to improve efficiency, simplicity, and safety throughout use. 
  • Smurfit Kappa introduced its new SupplySmart digital solution in November 2023. This technology enables companies to modify their packaging in a smart way to boost productivity and cut emissions throughout their supply chains. 
  • In July 2023, International Paper created OHMEGA®, a cutting-edge technology for communicating with customers through packaging. OHMEGA® uses a special code printed in conductive ink on the packaging to distribute coupons, sweepstakes, ads, and more to customers.
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Smart Packaging Market size was valued at USD 252 billion in 2022 and is poised to grow from USD 267.62 billion in 2023 to USD 433.03 billion by 2031, at a CAGR of 6.2% during the forecast period (2024-2031).

The key 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 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 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 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.

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Global Smart Packaging Market

Product ID: SQMIG15Q2005