Intelligent Packaging Market Size

Intelligent Packaging Market Growth Projections and Opportunities

The Intelligent Packaging Industry is witnessing the growth at a higher pace, as the industry landscape is being shaped by numerous factors of market environment. In this modern day, "smart" packaging is a term for incorporating complex technologies into materials of packaging without need of physical interaction and results are amazing. These are, responding to the product, to the surrounding and/or to the users. The sector with high awareness is said to be having a great range of opportunities because of technological innovations, consumer preferences, and industry needs as well.

Intelligent Packaging Market Volume had reached 19 USD in 2021. The IPS market is foreseen to grow from USD 25 Billion in the year 2023 to USD 36 Billion by the yea 2030 having a 6.00% CAGR.

A significant driver of growth in this market is an upsurge in demand for products to be traceable while authenticity remains emphasized. As consumers are becoming more focus on the origin and quality of product that they purchase, one of the tools that brands are using today is smart packaging technology which allows consumer to access the complete supply chain. RFID (Radio Frequency Identification) and NFC (Near Field Communication), for example, enable customers to gain detailed information about product’s journey since its production to retail. This, in turn, enables them to know more about their favorite products and hence build trust and brand loyalty.

In addition to this, countless advances in the tech know-how are helping to widen the market of intelligent packaging with the rise of the Internet of Things (IoT). In packaging area, the integration of the IoT technologies is a powerful tool to allow the real-time monitoring and interaction between products, packaging devices, and other external entities. This digitally integrated supply chain increases its efficiency and decreases waste; it also enables brands to detect and address inflows such as tampering or spoilage quickly. Despite the ability to obtain and transfer data from smart packaging systems, to which companies could benefit from, provides a unique overview of production processes aiming to improve operation and performance.

Nowadays, consumers normally like easy time, products that are quick to eat and have tight schedule a lot. This increases the demand for the packaging solutions with convenience and ease of use. Nowadays, packaging technologies that are intelligent in nature such as interactive labels, QR codes, and augmented reality elements are the new experience elements that directly come in contact with consumers and provide them information such as relevant information, promos or even games related to the product.

Environmental sustainability is a major issue in the packaging and the technological packaging solutions are contributes in solving this issue. The shared smart systems can similarly cut down drastically on food waste too by giving immediate info on the freshness and durability of perishable items. Moreover, with the introduction of pack-aging materials that can be biodegradable or can be recycled, such packaging helps to reduce the environmental footprint. This is a trend that many processes need to follow as the demand for such eco-friendly solutions is on the rise.