78.JPG)
The Intelligent Packaging Market Size is valued at USD 21.04 Billion in 2023 and is predicted to reach 43.36 Billion by the year 2031 at a 9.68 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The integration of intelligent packaging into the Internet of Things (IoT) ecosystem opens opportunities for a more connected and data-driven approach.
- The integration of intelligent packaging into the Internet of Things (IoT) and Industry 4.0 initiatives facilitates a more connected and automated supply chain, contributing to overall operational efficiency.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- The cost may pose a barrier, particularly for small and medium-sized enterprises (SMEs).
The increasing demand for innovative packaging solutions from the food processing and pharmaceutical industries, rising consumer concern about decreasing food waste, and rising demand for innovative & functional packaging are the primary factors driving the market's growth. The growing e-commerce sector, greater industrialization, and strong demand for superior supply chain management would offer market participants lucrative opportunities. Additionally, this industry's companies today use labels for part identification and branding, which boosts demand for the market.
However, the high initial costs of manufacture and execution will impede the market's expansion rate. The numerous technologically cutting-edge advancements offered by the top market players create lucrative chances for the industry's expansion. The lack of demand for these innovative solutions among consumers due to a lack of understanding is anticipated to further slow market growth, creating challenges for the industry. Sustainable packaging and increased demand for convenience foods like ready-to-cook meals drive the global market for advanced packaging technologies to rise rapidly. To diversify their product offerings, top manufacturers are placing a strong emphasis on introducing next-generation packaging solutions. Some players also plan to increase their production capacity to meet the rising demand from different industries, which is expected to propel the market growth during the forecast period.
Competitive Landscape
Some major key players in the Intelligent Packaging Market:
- Material Provider,
- 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
- Packaging Manufacturers, Amcor plc.,
- Crown Holding Inc.,
- 3M Company,
- CCL Industries Inc.,
- WestRock Company,
- Ball Corporation,
- Mondi Plc.,
- International Paper Company,
- Georgia-Pacific LLC,
- UPM-Cymene Obj,
- Coveris Holdings S.A.,
- DuPont Teijin Films U.S.,
- Sigma Plastics Group,
- Technology Providers,
- Time strip UK Ltd,
- Barcode, Ltd,
- Tempie Corporation,
- Delta Trak, Inc.,
- EVIDENCE SENSORS,
- JRI Company,
- Vista 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,
- Shopify Inc.
Market Segmentation:
The intelligent packaging market is segmented based on technology, levels of packaging, and end users. Based on technology, the market is segmented as indicators, time-temperature indicators, gas & integrity indicators, freshness indicators, sensors, interactive packaging/data carriers, quick-response (Q.R. codes), barcodes, radio frequency identification (RFIDs), near field communications (NFC's), Bluetooth low energy (BLE), active packaging, oxygen scavengers, ethylene absorbers, moisture scavengers, anti-microbial packaging. By application, the market is segmented into bottles and jars, blisters, trays & clamshells, cans, boxes & cartons, vials, ampoules, & prefilled syringes, bags & pouches, films & wraps, mailers, labels, tapes, and others. By the end user, the market is segmented as food, meat, poultry, & seafood, fruits & vegetables, dairy products, bakery & confectionary, processed food, ready-to-eat food, others, beverage, healthcare, medical devices, medical supplies, pharmaceuticals, cosmetics, logistics & transport, consumer electronics, consumer goods, personal care & homecare, others. Based on levels of packaging, the market is segmented as primary, secondary, and tertiary.
The Healthcare Segment Is A Significant Contributor To The Intelligent Packaging Market Based On End Users.
The healthcare category is estimated to hold a major share of the global intelligent packaging market. The demand for intelligent packaging is growing due to strict transportation and packaging regulations for medical goods and medications. The demand for OTC (over-the-counter) medications has increased due to the rising elderly population and numerous chronic conditions. The number of medications available on the market has expanded thanks to advances in medical science and the outcomes of several pharmaceutical industry research and development initiatives.
The Primary Packaging Segment Witnessed Growth At A Rapid Rate.
The primary packaging segment is projected to increase in the global intelligent packaging market. Primary packaging is the product's main line of defence against external deterioration, impurity, and destruction. Additionally, it keeps the product in storage for a long time. The primary packaging has many advantages, including stickability, proper presentation, ease of handling, and convenience. Growth in the intelligent packaging market is also fueled by lifestyle changes, rising income levels, and population growth. The growth prospects are anticipated to be brought on by technological innovation and the growing market penetration of leading industry players in the packaging sector.
The North American Intelligent Packaging Market Holds A Significant Regional Revenue Share.
North America is estimated to dominate the market for intelligent packaging and will maintain this pattern of dominance during the projection period. Due to the availability of the necessary infrastructure for smart manufacturing, shipping, and wrapping. The region's market is predicted to develop due to the region's expanding working population as well as the rising desire for interactive and better packaging solutions.
Additionally, Asia Pacific is predicted to have profitable growth. The strong demand for packaged food and related items necessitates additional attention and concern in the transport cycle. Other factors driving demand in the Asia Pacific smart packaging market include customers' urbanization and lifestyle changes in developing nations like China, India, and Thailand.
Recent Developments:
- In March 2024, 3M introduced the initial padded, paper-based mailer material that is both curbside recyclable and suitable for businesses to streamline their packing operations. The 3M™ Padded Automatable Curbside Recyclable (PACR) Mailer Material is a recently developed substance that can generate packages at a rate three times faster than human packing when used with compatible automated packaging machines.
Intelligent Packaging Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 21.04 Billion |
|
Revenue Forecast In 2031 |
USD 43.36 Billion |
|
Growth Rate CAGR |
CAGR of 9.68 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Technology, Application, Level of packaging, End-Use |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Material Provider, 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 Packaging Manufacturers, Amcor plc., Crown Holding Inc., 3M Company, CCL Industries Inc., WestRock Company, Ball Corporation, Mondi Plc., International Paper Company, Georgia-Pacific LLC, UPM-Cymene Obj, Coveris Holdings S.A., DuPont Teijin Films U.S., Sigma Plastics Group, Technology Providers, Time strip UK Ltd, Barcode, Ltd, Tempie Corporation, Delta Trak, Inc., EVIDENCE SENSORS, JRI Company, Vista 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. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
