Internet Of Packaging Market Forecasts to 2028 – Global Analysis By Packaging Type (Boxes & Cartons, Films & Wraps, Bottles & Jars, Bags, Tubes, Mailers, Blisters, Pouches and Other Packaging Types), Technology (Barcode & QR Code, Radio Frequency Identifi

Internet Of Packaging Market Forecasts to 2028 – Global Analysis By Packaging Type (Boxes & Cartons, Films & Wraps, Bottles & Jars, Bags, Tubes, Mailers, Blisters, Pouches and Other Packaging Types), Technology (Barcode & QR Code, Radio Frequency Identification , Sensors & Tags, Indicators and Near Field Communications), End User and By Geography

According tStratistics MRC, the Global Internet of Packaging Market is accounted for $18.5 billion in 2022 and is expected treach $28.2 billion by 2028 growing at a CAGR of 7.3% during the forecast period. The Internet of packaging, alsknown as intelligent packaging, is a packaging approach used ttrack, monitor, interact with, and control product quality and safety. It is widely used tavoid potential mistakes, prevent diseases from spoiled food, and cut costs. Because of its great potential qualities and genuine output, the market has seen the fastest rise. The Internet of Packaging upsets traditional packaging and allows consumers tefficiently engage with businesses.

According tthe International Federation of Robotics, the market for collaborative packaging robots is expected treach a value of USD 12.3 billion by 2025. Intelligent robots work alongside workers and can be programmed by most factory workers ttake on the most routine, tedious tasks and deliver with accuracy.

Market Dynamics:

Driver:

Growing demand for eco-friendly packaging

As customers have become increasingly concerned about the environment in recent years, sustainability has become an important market trend. Numerous programmes for plastic reduction, recycling, and sustainable packaging solutions all contribute tthe increased need for environmentally friendly packaging. It allowed customers tscan with their cell phones and receive relevant information about bottle recycling and the recycling facility closest ttheir home. Furthermore, the growing desire for smart, interactive, eco-friendly, and user-friendly packaging solutions for a variety of end-use industries will drive demand for the internet of packaging.

Restraint:

Expensive hardware and software services

The high cost of hardware, software, and training expenditures is a key impediment tindustry expansion. The cost of an internet of packaging solution is higher than the cost of traditional packaging solutions. Furthermore, the market's development, plastic is widely used in the packaging business. Customers have a tough time accepting food products containing non-digestible substances. It is alsprojected thave a negative impact on worldwide market growth which hinders the market growth.

Opportunity:

Inherent benefits of Internet of Packaging's

The internet of packaging protects, sustains, monitors, and ensures product safety. It reduces human error and costs while alspreventing illnesses such as food poisoning by alerting consumers. Furthermore, it has the capability of determining qualities such as the package's inner atmosphere. The packaging solution alsenables end-users tcommunicate pertinent information. They alsoptimise the product protection tracking process. Several elements contribute tthe global market's rapid expansion. The increased need for multi-specialty wrapping tpreserve nutritional and health value as well as the freshness and quality of products encourages in the market expansion.

Threat:

Non-digestible materials are less likely tbe accepted.

Customers are hesitant tuse online packaging services due tthe lower acceptance of non-digestible ingredients present in food products separately from the packaged food on its own, as well as concerns about the risks associated with the irresponsible release of elements from intelligent devices that come intdirect contact with food products. Consumers are alsdisturbed and angry that food quality information has been communicated. Those smart devices could be clearly deceiving which hampers the growth of the market.

Covid-19 Impact

The unexpected development of the COVID-19 epidemic damaged a variety of end-use businesses worldwide. The packaging market had a downward trend as a result of numerous issues such as supply chain disruptions, a slowdown in manufacturing activity, severe trade restrictions, and an imbalance in raw material supply. In the early phases of the pandemic, the Internet of packaging alssaw a pause in routine production activities, which hindered market growth. Increased consumer awareness of product safety and quality will alslead tsignificant market expansion in the market

The Barcode & QR code segment is expected tbe the largest during the forecast period

The Barcode & QR code segment is estimated thave a lucrative growth, due tthe barcode and QR code market is exploding for sustainable packaging allow consumers tinteract with their favourite brands. It dramatically boosts brand perception and reinforces trust. They are alsexcellent in providing product transparency, improve the overall customer engagement, gathering information and insights, reducing food waste, and adhering tregulatory requirements and compliance.

The Food & Beverages segment is expected thave the highest CAGR during the forecast period

The Food & Beverages segment is anticipated twitness the fastest CAGR growth during the forecast period, due tthe adoption of internet of packaging technologies in the food and beverage industry enables the correction of food safety violations and provides end-users with accurate product-related information. It is alsless expensive and takes less time tnotice an event, track food safety, and save money. The increasing consumer demand for high-quality, safe food items necessitate the internet of packaging. It reduces misunderstanding and necessitates fewer cancellations leading tenhanced market growth.

Region with largest share:

North America is projected thold the largest market share during the forecast period owing tthe region's increasing demand for packaged and frozen food goods. In this region, the demand for self-heating and cooling packaged items in the food and beverage industry will provide attractive growth prospects. The region's growing preference for Internet of Packaging over traditional packaging, as well as the availability of widespread Internet connectivity, is mostly thold responsible for revenue growth in the North American industry.

Region with highest CAGR:

Asia Pacific is projected thave the highest CAGR over the forecast period, owing tincreased need for innovative packaging solutions, and improved product traceability. The changing lifestyles, increased demand for technical packaging solutions, and improved product traceability are the primary drivers of market advancement in Asia Pacific. The rise of the Asia Pacific market is alsencouraged by expanding clientele and e-commerce shipments, which enable the Internet of Packaging in the region's emerging nations, particularly China and India are driving the market.

Key players in the market

Some of the key players profiled in the Internet of Packaging Market include Tetra Pak, Wiliot, SepiProducts, ImpaX.io, Tapwow, RePack, Qtrust, Iungo, Unipac Corporation, Kezzler, Vesta Smart Packaging, CuePath Innovation designs, Rover, The Porch Pod and ColorSensing

Key Developments:

In Jan 2023, Wiliot Launched New Innovation Kit taccelerate and Scale Access tthe Ambient IoT, The launch of the Wiliot Innovation Kit provide companies of all sizes and budgets a fast, intuitive and affordable way tdiscover and experience ambient IoT technology that unlocks solutions tproblems that touch every industry and vertical.

In Oct 2022, Wiliot Partners with Identiv tManufacture Initial Order of 25 Million Units of its IoT Pixel Tags, This agreement with Identiv represents an inflection point for Wiliot and the Ambient IoT.

In June 2022, Tetra Pak processing solutions provider, has partners with Reliance-owned Milkbasket, India’s first and largest daily micro-delivery service thelp consumers recycle their used beverage cartons through Milkbasket’s app.

In Feb 2022, Tetra Pak launches the first Made in India holographic packaging with Warana Dairy. The Warana Ghee in Tetra Pak cartons will first be available in Maharashtra, with major focus on Mumbai, Marathwada and Vidarbh.

Packaging Types Covered:
• Boxes & Cartons
• Films & Wraps
• Bottles & Jars
• Bags
• Tubes
• Mailers
• Blisters
• Pouches
• Other Packaging Types

Technologies Covered:
• Barcode & QR Code
• RadiFrequency Identification
• Sensors & Tags
• Indicators
• Near Field Communications

End Users Covered:
• Healthcare
• Consumer Electronics
• Food & Beverages
• Personal Care & Cosmetics
• Homecare
• Logistics & Transport
• Sport & Retail
• Apparel & Accessories
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements