Internet of Packaging Market Trends

Global Internet of Packaging Market Overview

Internet of Packaging Market Size was valued at USD 17.5 Billion in 2022. The Internet of Packaging market is projected to grow from USD 18.5 Billion in 2023 to USD 29.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2023 - 2032). Potential advantages provided by the growing food and beverage sector and the internet of packaging, are the key market drivers enhancing the market growth.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Internet of Packaging Market Trends

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  Potential benefits offered by internet of packaging is driving the market growth

  
  

The product is safeguarded, sustained, its quality is monitored, and product safety is guaranteed by the internet of packaging. By alerting the consumers, it reduces human mistake and expense while also preventing illnesses like food poisoning. Additionally, it has the ability to measure characteristics like the package's internal atmosphere. The packaging solution also enables the end-users to receive the pertinent information. They optimise the tracking method for product protection as well. Such elements aid in the market's rapid expansion on a global scale. Additionally, its distinctive abilities to track real-time data, record, identify, communicate, and use scientific logic provide important consumer marketing solutions. The market is expanding as a result of the rising demand for multi-specialty packaging that preserves the products' nutritional and health benefits as well as their freshness and quality. Additionally, the rising research and development expenditures for creative packaging will boost global sales. In the upcoming years, the market is also anticipated to be driven by the shifting customer taste for comfort food.

Global Demand for Internet of Packaging is Fueled by Growing Demand for Safe and Healthy Food

One of the major drivers of the internet of packaging market growth is the expanding food and beverage sector. Due to the severe food safety regulations in place around the world, the food and beverage business is expanding at the highest rate. Market expansion is fueled by the spike in demand for alternative packaging options that can protect food goods' quality. The importance of eating high-quality food goods in terms of taste, safety, color, and expiration date has grown among consumers. Additionally, the market is growing as a result of the rising demand for fresh, high-quality packaged food as well as worries about food safety and consumer convenience. Due to changing urban lifestyle and demographic patterns, there is a large demand for ready-to-eat, frozen, and packaged food, which also supports the market's expansion. The potential solutions provided by the internet of packaging for ensuring food security while keeping nutritional value will help the worldwide market grow over the coming years.

The consumption of convenience foods and ready-to-eat meals is growing in popularity as a result of urbanisation, where there is an increase in the movement from rural to urban areas, and changes in dietary conditions. In countries like India, people are starting to give up the tradition of cooking meals at home and sharing them with friends and family. Therefore, promoting the use of convenience meals, where it is predicted that internet of packaging will supply a variety of customers reliable information on the food product. Thus, driving the Internet of Packaging market revenue.

Internet of Packaging Market Segment Insights

Internet of Packaging Technology Insights

The Internet of Packaging Market segmentation, based on technology, includes barcode & QR code, sensors & tags, radio frequency identification, near field communications, and indicators. Near field communications segment dominated the global market in 2022. The exciting potential to increase the intelligence and interaction of everyday objects is made possible by NFC tags, which may be incorporated into packaging. These NFC tags provide customized, location-specific, and dynamic content because they have unique identifiers for each item, not just the type of items. It is less likely to be replicated because NFC technology's unique ID prevents product fraud and allows identification. These are the two main factors affecting the growth of this industry.

Internet of Packaging: Packaging Type Insights

The Internet of Packaging Market segmentation, based on packaging type, includes boxes & cartons, bottles & jars, films & wraps, mailers, bags, tubes, pouches, blisters, and others. Boxes & cartons segment dominated the global market in 2022. Many different products are frequently packaged in boxes and cartons. Through the application of the internet of packaging, the packaging type enables simple sensing, tracing, recording, detecting, and delivering crucial information about the current state of the product. It plays a crucial role in the rapidly expanding segment. Tracking systems for trademark protection and anti-counterfeiting are simple to transport with boxes and cartons. Additionally, since this sort of packaging lowers prices and waste, it is anticipated to rise significantly in the upcoming years.

Internet of Packaging End User Insights

The Internet of Packaging Market segmentation, based on End User, includes food & beverages, healthcare, personal care & cosmetics, homecare, consumer electronics, logistics & transport, apparel & accessories, sport & retail, and others. Food & beverages segment dominated the Internet of Packaging Market in 2022. Internet of packaging technologies stop food theft by making it possible to quickly fix food safety violations and give buyers information about the products. Tracing the source of food safety issues helps to save lives and money since the Internet of Packaging reduces the time required to detect an event. This might mean that recalls are more targeted, there is less misunderstanding, and consumers are more confident in the safety of their food.

Figure 1: Internet of Packaging Market, by End User, 2022 & 2032 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Internet of Packaging Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Internet of Packaging Market dominated this market in 2022 (45.80%). The increase in revenue in the North American market is mostly due to the region's rising preference for Internet of Packaging over traditional packaging and the availability of ubiquitous Internet connectivity. Additionally, improved safety assurance, dependability, and transparency are made possible through the Internet of Packaging. Further, the U.S. Internet of Packaging market held the largest market share, and the Canada Internet of Packaging market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: INTERNET OF PACKAGING MARKET SHARE BY REGION 2022 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Internet of Packaging market accounted for the healthy market share in 2022. The Internet of packaging market in Europe is predicted to have substantial revenue growth over the course of the forecast year due to the presence of leading industry players in the region. Further, the German Internet of Packaging market held the largest market share, and the U.K Internet of Packaging market was the fastest growing market in the European region

The Asia Pacific Internet of Packaging market is expected to register significant growth from 2023 to 2032. Changing lifestyles, a rising need for technical packaging solutions, and increased product traceability are the primary forces behind market expansion in APAC. The growing clientele and increasing e-commerce shipments in the region's emerging nations, particularly in China and India, which enable Internet of Packaging, further contribute to the APAC market's rise. Moreover, China’s Internet of Packaging market held the largest market share, and the Indian Internet of Packaging market was the fastest growing market in the Asia-Pacific region.

Internet of Packaging Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Internet of Packaging market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Internet of Packaging industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Internet of Packaging industry to benefit clients and increase the market sector. In recent years, the Internet of Packaging industry has offered some of the most significant advantages to medicine. Major players in the Internet of Packaging market, including Wiliot, Tetra Pak, Scanbuy Inc., Kezzler, Identiv Inc., Tapwow, Sepio Products, CuePath Innovation Designs, Insignia Technologies, RePack, ImpaX.io, Qtrust, and Iungo, are attempting to increase market demand by investing in research and development operations.

A supplier of complete solutions for processing and packaging is Tetra Pak International SA (Tetra Pak), a division of Tetra Laval International SA. The business provides solutions for the distribution of food items such as dairy products, ice cream, dry goods, cheese, fruits, and vegetables, as well as juices and nectars. Evaporators, heat exchangers, aseptic processing systems, separators, homogenizers, and flow equipment are just a few of the many processing tools it provides. Tetra Pak introduced "universal" smart packaging software in November 2021, which brands can customise to meet their specific needs.

Wiliot is a creator of a bluetooth chip technology meant to scale the Internet of Things and link people. Customers can find out where their items are, who is using them, and when they need to be restocked thanks to the company's technology, which combines cloud services and Internet of Things pixels, computational components that can fuel themselves by gathering radiofrequency energy. As company prepares for a SaaS shift and licences its ultralight, ambient-power semiconductor technology to others, Wiliot raised USD 200 million in July 2021.

Key Companies in the Internet of Packaging market include

• Wiliot


• Tetra Pak


• Scanbuy Inc.


• Kezzler


• Identiv Inc.


• Tapwow


• Sepio Products


• CuePath Innovation Designs


• Insignia Technologies


• RePack


• io


• Qtrust


• Iungo

Internet of Packaging Industry Developments

May 2022: Avery Dennison announced a strategic alliance with digital ID technology vendor and developer Wiliot. Through the integration of atma.io and the design, development, and production of Wiliot tags, the strategic alliance will scale the IoT to be intelligent and completely connected.

Internet of Packaging Market Segmentation

Internet of Packaging Technology Outlook

• Barcode & QR Code


• Sensors & Tags


• Radio Frequency Identification


• Near Field Communications


• Indicators

Internet of Packaging: Packaging Type Outlook

• Boxes & Cartons


• Bottles & Jars


• Films & Wraps


• Mailers


• Bags


• Tubes


• Pouches


• Blisters


• Others

Internet of Packaging End User Outlook

• Food & Beverages


• Healthcare


• Personal Care & Cosmetics


• Homecare


• Consumer Electronics


• Logistics & Transport


• Apparel & Accessories


• Sport & Retail


• Others

Internet of Packaging Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America