Electronic smart packaging market to value nearly $3b in 2033

A market report has identified that global demand for electronic smart packaging will reach $2.6 billion in 2033.

This represents a compound annual growth rate (CAGR) of 15.4 percent from 2023, according to the data.

Smart packaging has potential for the integration of electronic functionality, enabling compliance, material identification, condition monitoring and asset tracking of pharmaceutical products.

A largely addressable market means that there is continued interest in smart packaging worldwide. Yet apart from radio-frequency identification (RFID) tags and QR codes, adoption at scale has proved challenging overall, the report stated.

Smart packaging technologies

Detailed in the report were examples of current and emerging technologies being developed for the sector including:

• Identification technologies such as capacitive ink approaches
• Electronic articles surveillance (EAS) for anti-theft
• Data loggers for temperature, shock, vibration, and time/location monitoring
• Interactive packaging with functionalities including illumination and use-monitoring
• Chemical indicators, including temperature, frozen chemical visual indicators and active packaging for produce and pharmaceutical monitoring.

Types of technologies such as wirelessly connected tags (active and passive) and sensors were also specified. In terms of function, non-wireless technologies identified were mechanical, chemical, electrical and electronics.

The market report also covered RAIN (UHF RFID) packaging, NFC (HF RFID) smart packaging, illumination-based electronic packaging, electronic shelf labels, electronic smart blister packaging, chemical sensors smart packaging, printed and flexible batteries, printed and flexible sensors and electronic article surveillance.

Increased demand for sustainability and delivery optimisation packaging solutions has created a need for streamlined inventory management. This is driving the adoption of item-level smart labelling, the report noted. For example, printed digital watermarks to facilitate packaging separation for recycling is being explored.

The COVID-19 pandemic accelerated the adoption and use of wireless ID. This includes the use of QR codes for track and trace schemes and NFC for wireless payment, the data showed.

Therefore, as technology improves and demand for connected experiences continues to grow, this market is likely to accelerate in the forthcoming decade.