Pune, India, March 01, 2023 (GLOBE NEWSWIRE) -- The global internet of packaging market size was valued at USD 18.50 billion in 2022 and is projected to grow from USD 19.34 billion in 2023 to USD 27.76 billion by 2030, exhibiting a CAGR of 5.3% during the forecast period. Intelligent packaging is a method that assists to interact, trace, monitor, and manage the safety and quality of the product. This packaging method is specifically designed and used to reduce human errors, eliminate costs, maintain quality, and prevent diseases caused by rotten food. Fortune Business Insights presents this information in their report titled “Global Internet of Packaging Market, 2023-2030.”
List of Key Players Profiled in the Internet of Packaging Market Report:
- Wiliot (Israel)
- Tetra Pak (Switzerland)
- Scanbuy Inc. (U.S.)
- Kezzler (Norway)
- Identiv Inc. (U.S.)
- Tapwow (U.S.)
- Sepio Products (India)
- CuePath Innovation Designs (Canada)
- Insignia Technologies (U.K.)
- RePack (Finland)
- ImpaX.io (Israel)
- Qtrust (U.K.)
- Iungo (Brazil)
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.3% |
| 2030 Value Projection | USD 27.76 Billion |
| Base Year | 2022 |
| Internet of Packaging Market Size in 2022 | USD 18.50 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 272 |
| Segments Covered | By Type, End-user and Regional Insights |
| Internet of Packaging Industry Growth Drivers | Rising Demand for the Product in Automotive & Transportation Industry to Surge Market Development |
| Acquisition Strategies by Key Market Players to Set Market Development |
Segments:
QR Code and Barcode Segment Dominates the Market
Based on technology, the market is segmented into barcode & QR codes, sensors & tags, radio frequency identification, near-field communications, and indicators. Barcode & QR code segment is growing steadily. QR codes for smart packaging provide convenience for consumers while interacting with their brand of choice.
Boxes & Cartons is the Dominating Segment Due to its High Utilization in Product Packaging
Based on packaging type, the market is divided into boxes & cartons, bottles & jars, films & wraps, mailers, bags, tubes, pouches, blisters, and others. Boxes & cartons segment dominates the market. These are mostly preferred for packaging a variety of products. Various functions offered such as tracing, recording, easy sensing, and providing vital information on the product’s current state make it a preferred option for consumers.
Growing Consumers Need to Witness Substantial Growth of the Food & Beverages Segment
Based on end-user, the market is classified into food & beverages, healthcare, personal care & cosmetics, homecare, consumer electronics, logistics & transport, apparel & accessories, sports & retail, and others. Increasing demand from consumers for high-quality and safe food products rises the requirement for internet of packaging.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints:
Convenience Offered by Internet of Packaging to Propel Market Growth
The internet of packaging products is safeguarded and sustained, its quality is monitored and product safety is guaranteed. By alerting the customers, it reduces human errors and expenses while also preventing illnesses such as food poisoning. Additionally, it has the capacity to measure characteristics such as the packages’ internal atmosphere. The packaging options also enable the end-users to receive essential information. They optimize the tracking method for product protection. Such elements play a significant role in the global packaging market’s enormous rise on the internet.
On the contrary, the cost of internet of packaging is higher compared to traditional packaging solutions. Moreover, several legislations and rising concerns against the use of plastic can hinder the internet of packaging market growth.
Regional Insights
North America to Witness Significant Growth due to Augmenting Demand for Packaged and Frozen Food Products
North America dominates the global internet of packaging market share. The region’s rising demand for packaged and frozen food products is a major factor in the sector’s growth. Europe is anticipated to witness steady growth during the forecast period.
Moreover, growing demand for self-heating and cooling packaged products in the food and beverage industry will result in lucrative growth in Europe.
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https://www.fortunebusinessinsights.com/internet-of-packaging-market-107258
Competitive Landscape
R&D Developing Improved Products to Meet Consumer Demands
Major players control the market by providing creative packaging solutions to consumers. Market leaders are continually improving their products by offering benefits such as increased shelf-life, maintaining nutritional value, improved product traceability, and others to dominate the market.
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Impact of COVID-19 on the Internet of Packaging Market
- Global Internet of Packaging Market Analysis (USD Billion), Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- Barcode & QR Code
- Sensors & Tags
- Radio Frequency Identification
- Near Field Communications
- Indicators
- Market Analysis, Insights and Forecast – By Packaging Type
- Boxes & Cartons
- Bottles & Jars
- Films & Wraps
- Mailers
- Bags
- Tubes
- Pouches
- Blisters
- Others
- Market Analysis, Insights and Forecast – By End User
- Food & Beverages
- Healthcare
- Personal Care & Cosmetics
- Homecare
- Consumer Electronics
- Logistics & Transport
- Apparel & Accessories
- Sports & Retail
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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Key Industry Development:
February 2022: CuePath Innovative Designs launched the second-generation blister packaging solution to Wellness Pharmacy Group. The smart blister solution was launched to deliver medication monitoring and adherence support for complex regimens patients.
Read Related Insights:
Active, Smart, and Intelligent Packaging Market Size, Share, and Regional Forecast, 2023-2030
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