Internet of Packaging Market - Forecasts from 2024 to 2029

The Internet of packaging market is projected to rise at a compound annual growth rate (CAGR) of 5.74% to reach a market valuation of US$27.184 billion by 2029, from US$18.395 billion in 2022.

The Internet of Packaging (IoP) seeks to develop intelligent and interactive packaging solutions by fusing internet-connected sensors and technologies with packaging materials. Packaging may now gather and share data, giving the supply chain and final customers useful information, due to IoP. This technology improves transparency, productivity, and customer experience in the packaging business by tracking product freshness, monitoring storage conditions, authenticating items, and even exchanging interactive information with customers.

Rising demand for enhanced shelf life and freshness of product propels the market.

Several factors are driving the IoP market's expansion. For instance, real-time tracking across the supply chain is made possible by IoP technologies like RFID and QR codes, which significantly contribute to consumer demand for transparency and traceability. Another important component is supply chain optimization, which is made possible by IoP and allows businesses to save expenses and increase efficiency by improving logistics and inventory control, delivery efficiency, and consumer satisfaction in light of the growing trend of online shopping.

As per the International Trade Administration, in 2022, an Israeli poll on eCommerce activity found that more than 48% of participants made weekly purchases online. According to estimates, the eCommerce sector would generate $11.83 billion in sales by 2027, up from $7.55 billion in 2023. eCommerce includes several industries, including travel, technology, food & drink, and fashion.

Moreover, market players in the internet of packaging market are using a range of strategies to capitalize on the market's growing potential. Various businesses are placing a high focus on innovation and investing in research and development to provide cutting-edge IoP solutions that meet shifting consumer and industry expectations.

Furthermore, the creation of intelligent packaging solutions that maximize material efficiency and reduce environmental effects is being fueled by sustainability initiatives. The adoption of IoP is further accelerated by integration with Industry 4.0 and digital transformation projects, which helps businesses become more efficient and competitive in the market. The Fourth Industrial Revolution, or "Industry 4.0," is a new industrial system driven by technology and the desire to make the world more sustainable. It has been ushered in by the modern world. From $10.5 billion in 2011 to $103 billion in 2021, the domain has seen an increase in investments, with a predicted $200 billion worldwide investment by 2025. Technology innovation is the driving force behind Industry 4.0, which has the potential to significantly impact global challenges.

The foundations of Industry 4.0 adoption have been Made in India and Production Linked Incentives (PLI), which promote investment, innovation, and skill development to create a sustainable manufacturing infrastructure and attract businesses from various industries to produce in India.

The market is projected to grow in the Asia Pacific region.

The foundations of Industry 4.0 adoption have been Made in India and Production Linked Incentives (PLI), which promote investment, innovation, and skill development to create a sustainable manufacturing infrastructure and attract businesses from various industries to produce in India. Some predicted growth factors of Industry 4.0 technologies in India include Data Analytics (In 2021, the data analytics market grew by 26.5% to reach a valuation of $45.4 billion and is expected to grow substantially.), cloud computing (In India, cloud computing is a major factor in supporting Industry 4.0. With a predicted value of $10.8 billion by 2025, it continues to be a cornerstone of innovation and digital transformation.), Internet of Things (IoT) (By 2025, the Indian IoT market is projected to have grown from $4.98 billion in 2020 to $9.28 billion.), and 3D printing (It is anticipated that the 3D printing market in India will expand from $12.6 billion in 2020 to $37.2 billion in 2026).

Key Market Developments:

• February 2024, ProAmpac, a pioneer in material science and flexible packaging, showcased its most recent developments in sustainable packaging at Packaging Innovations 2024, which took place at booth N92 at the NEC in Birmingham on February 21-22.
• August 2023, the industry leader in right-sized, sustainable, on-demand packaging, Packsize®, announced the release of its PackNet® Cloud platform, the first and only cloud-enabled offering in the sector. In addition, in August 2023, Ahlstrom and The Paper People LLC collaborated to create and introduce a novel and environmentally friendly frozen food packaging solution. This innovative range of packaging was particularly made to replace conventional plastic and films made of fossil fuels for frozen food packing. It is fiber-based and certified recyclable.

Key Players:

• Tetra Pak is the world's leading food processing and packaging solutions company. The digital packaging solutions by the company help in the transformation of sustainable manufacturing with innovative product solutions that deliver excellent results for various industries.
• Scanbuy, Inc. is a key market player, offering smart packaging solutions to cater to all the unique requirements of customers. The company came into a strategic partnership with Kezzler to bring Internet of Packaging advancements.
• Insignia Technologies is a major company delivering IOT-enabled packaging solutions worldwide. The solutions are so designed to indicate the quality and freshness of goods and products.

Segmentation:

By Technology:

• Barcode and QR Code
• Low-Energy Bluetooth
• Sensors and Tags
• Radio Frequency Identification
• NFC Technologies
• Indicators

By Application:

• Personal Care
• Health Care
• Automotive
• Consumer Electronics
• Food and Beverages
• Homecare
• Others

By Packaging Type:

• Bottles and Jars
• Films and Wraps
• Mailers
• Boxes and Cartons

By Geography

• North America
• United States
• Canada                
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others