In 2023, it is anticipated that the market for intelligent packaging would be worth US$23.6 billion. Between 2023 and 2033, the overall demand for intelligent packaging will increase at a 9.0% rate. The size of the worldwide intelligent packaging market is anticipated to reach $56.0 billion by the end of 2033.
Sales of intelligent packaging will grow quickly during the next ten years. Top owned between 35 and 40 percent of the market in 2022.
Active packaging and interactive packaging/data carriers continue to be in high demand. In the following 10 years, these two categories will collectively account for around 72% of the market. This is explained by the growing demand for better-quality items and user-friendly packaging.
Intrinsic demand for track & trace packaging across the food & beverage industry propels the sales of intelligent packaging. The global intelligent packaging industry is set to expand 2.4 times the current market value during the forecast period.
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On the basis of the level of packaging, primary packaging is anticipated to continue dominating the market, growing at a robust CAGR of 9.6% through 2031. Increasing emphasis on adopting interactive and attractive packing solutions to improve the first impression of the product is a key factor driving sales in the segment.
“Greater inclination for contactless purchase and contactless delivery among present-day consumers will tip scales in favor of intelligent packaging. Introduction of innovative packaging technologies such as anti-microbial and nanotechnology also will accelerate the growth in the market,” says a FMI analyst.
Key Takeaways from Intelligent Packaging Market Study
- The U.S. is expected to hold the largest share in the North America market, accounting for nearly 85% of regional sales through 2031.
- Germany is projected to emerge as one of the most remunerative markets in Europe, contributing around 1/5th of the overall revenue share in the region by 2031.
- India is estimated to dominate the South Asia intelligent packaging market, accounting for more than 45% of the regional demand through 2031.
- The market in Japan is forecast to witness swift growth, expanding at an impressive CAGR of 11.2% CAGR from 2021 to 2031.
- In terms of technology, interactive/data carriers packaging is anticipated to hold the dominant share, accounting for 44% of the sales by 2031.
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Key Drivers
- Increasing demand for smart packaging with advanced features such as easy tracking and detecting using quick response (QR) codes from the e-commerce industry is spurring the sales of intelligent packaging.
- Implementation of stringent regulations regarding storing and transporting various food & beverages and healthcare products to ensure product safety is propelling the demand for active packaging such as oxygen scavengers and ethylene absorbers.
Key Restraints
- High cost of intelligent packaging compared to traditional packaging is a primary factor hampering the growth in the market.
- Rising concerns regarding the environment and implementation of several regulations about the use of plastics for packaging are restraining the growth in the market.
Competitive Landscape
Leading manufacturers are emphasizing on launching next-generation packaging solutions, integrated adopting advanced technologies to expand their product portfolio. Also, some of the players are aiming at expanding their production capacity to cater to the increasing demand from various industries.
- In 2021, JRI Company, an American company, announced expanding its production capacity by integration of the Labguard 3D equipment into its JRI-MySirius solutions.
- In December 2020, DeltaTrak Inc., a leading innovator of cold chain management and temperature monitoring solutions, announced launching customized vaccine temperature monitoring solutions, which are compatible with the three temperature profiles required for the handling, transport, and storage of COVID-19 vaccines.
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Some of the key players operating in the market profiled by FMI are:
Material Providers
- Dow Chemical Company
- LyondellBasell Industries N.V.
- BASF SE
- Exxon Mobil Corporation
- Saudi Basic Industries Corporation
- Ineos Group Limited
- Eni S.p.A.
- LG Chemical
- Lanxess AG
- Chevron Phillips Chemical Company, LLC
Technology Providers
- Timestrip UK Ltd
- Varcode, Ltd.
- Temptime Corporation
- DeltaTrak, Inc.
- EVIGENCE SENSORS
- JRI Company
- Vitsab International AB
- LAXCEN TECHNOLOGY INC.
- APK-ID
- STARNFC Technologies Ltd.
Brand Owners
- Nestlé S.A.
- Coca-Cola Company
- Johnson & Johnson
- Pfizer Inc.
- Unilever PLC
- Procter & Gamble Company
- XPO Logistics
- DHL Supply Chain
- Amazon.com, Inc.
- Shopify Inc.
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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