Smart Tag Packaging Market

Smart Tag Packaging Market Snapshot (2022 to 2032)

According to Future Market Insights research, during the projected period, the global smart tag packaging market is set to enjoy a market valuation of US$ 8.6 Billion in 2022, and register a CAGR of 10.1% to reach US$ 22.6 Billion by 2032. The smart tag packaging market revenues are estimated to propel with the top 3 countries projected to hold 30-35% of the global smart tag packaging market by the end of 2022.

The bags & pouches segment by application is projected to hold the major portion of the global smart tag packaging market. The target segment is estimated to account for around 19% of the market value share by the end of the forecast period.

Attributes	Details
Market Size 2022	US$ 8.6 Billion
Market Size 2032	US$ 22.6 Billion
Value CAGR (2022 to 2032)	10.1%
Collective Value Share: Top 3 Countries (2022E)	30 to 35%

The global smart tag packaging market forms around 40% of the global intelligent packaging market worth US$ 19.7 Billion in 2021.

The global smart tag packaging market reached US$ 7.8 Billion for the year 2021, according to FMI analysis. The demand for the smart tag packaging market is estimated to bolster with the top 5 companies estimated to hold approximately 15-20% of the global smart tag packaging market by the end of 2022.

The smart tag packaging market is projected to witness a growth outlook during the forecastable period. A new forecast by FMI anticipates that the smart tag packaging market will rise from 2022 to 2032 and is anticipated to offer a growth opportunity of US$ 14.8 Billion.

The increasing demand for interactive packaging among packaging brands is projected to augment the sales of smart tag packaging. The smart tag packaging market is expected to grow 2.9x the current market value from 2022 to 2032.

Historic Market Outlook for Smart Tag Packaging Market

The global smart tag packaging market expanded at a CAGR of 7.4% during the historic period and reached US$ 7.8 Billion in 2021.

Smart tag packaging offers and carries out functions such as recording, tracing, tracking and providing information. Smart tag packaging is been adopted by various end-use industries among food, beverages, healthcare, cosmetics, shipping & logistics, and other consumer goods. The rising urge for interactive packaging among the various end-use industries to drive customer engagement is expected to fuel demand for smart tag packaging. Also, the increasing need for monitoring customer satisfaction and loyalty to gain business opportunities fuels the demand for smart tag packaging. The brands can analyze and monitor the number of customers that scanned the QR codes attached to their products which will help them to know their purchase pattern leading to customer satisfaction & loyalty.

Furthermore, technology-based packaging helps in reducing the sales of counterfeit products as it provides the product with a unique identity that protects the product from counterfeit issues. Packaging manufacturers and converters are also focusing on providing innovative and smart packaging solutions. Overall, the end-use industries are moving towards intelligent packaging formats from traditional packaging to ensure product safety along with providing a user-friendly experience to modern consumers. Not only does smart tag packaging helps in reducing the sales of counterfeit products but also enables manufacturers as well as the customer to trace their product starting from the factory to the end destination. Overall, the rising need for next-generation packaging among the end-use industries boosts the market demand for smart tag packaging across the globe.

How does the End-use Industries Switching to Smart Tag Packaging in Emerging Markets Generate Crucial Growth Opportunities?

Many other end-use industries such as cosmetics & personal care, electronics, FMCG goods, and logistics & transport are welcoming smart tag packaging as a solution to overcome the packaging challenges in their respective industries. Key manufacturers of electronic goods are focusing on providing smart tag packaging for all of their offerings to provide proper identification of each gadget they produce. Consumers can also avail proper information regarding the handling and storage of products by simply scanning a QR (Quick-Response) code, unlike the traditional packaging where they need to read the whole instructions manual.

Moreover, major market players and marketers are using space-saving packaging techniques for their products because providing the necessary information according to regulatory norms can consume all the space over small products. To overcome this problem, global players in the cosmetics & personal care industry are switching to QR codes and barcodes to save space and for marketing and branding purposes. For instance, Fresenius Kabi and Health Care Logistics, Inc. have collaborated for RFID compatibility. Identiv, Inc. has collaborated with OCTACA Tequila using NFC technology for providing better product insights and brand awareness. Thus, along with all the above-stated industries, the smart tag is witnessing exponential growth in the logistics & transport industry to overcome delivery errors and provide proper tracking of the goods at all stages.

How does the Changing Lifestyles of Consumers and Expansion of Organized Retail Industry Drive the Demand for Smart Tag Packaging?

A rise in the number of educated consumers in all regions and rapid urbanization across the world has resulted in significant changes in consumer perception and buying behavior. Today’s modern-day consumers are more concerned about proper packaging and the detailed labeling of every product they buy. Changes in government laws regarding the packaging and coding of products need to be complied with for the products to be sold directly to industrial or household consumers. Products that don’t meet the specific packaging standards set by regulatory authorities are not allowed to be sold in the market.

The evolution of the modern-day retail industry is also considered an important factor that creates the demand for smart tag packaging solutions among retailers across the globe. Retail shop owners prefer smart tag packaging because it facilitates inventory management and lower ordering costs. Global retail giants, being pioneers in the adoption of smart tag packaging, encourage the usage of smart tag packaging among other small and large-sized retailers. Thus, the above-mentioned dynamic changes in the lifestyles of consumers, along with the expansion of organized retailing across all regions, provide a much-needed boost for the expansion of the global smart tag packaging market.

Country-wise insights

Why Demand for Smart Tag Packaging is increasing in Germany?

Germany is anticipated to remain the leading country in generating demand for smart tag packaging along with holding a major portion of the market share for smart tag packaging in Europe. Germany is anticipated to hold around 20% of the European smart tag packaging market by the end of 2032.

The demand for smart tag packaging is rising in the healthcare industry to provide the right information about the product as well as to track & trace the product which ensures safe distribution to the end patients. As per the data provided by the European Federation of Pharmaceutical Industries and Associations (EFPIA), Germany is considered one of the leading manufacturers of pharmaceutical products. The increasing pharmaceutical production requires proper labeling and tag solution during its storage and transit. Thus, the increasing production of pharmaceutical products in Germany is anticipated to drive the demand for smart tag packaging in the healthcare industry.

How will India Generate Market Growth Opportunities for Smart Tag Packaging?

India's smart tag packaging market is projected to register a CAGR of 11.2% from 2022 to 2032. The increasing demand for interactive packaging along with the increasing usage of a QR code in the food & beverage industry in India will create market growth opportunities for smart tag packaging in India. The trend of interactive & connected packaging is increasing in India, especially in the food & beverage industry. According to the Ministry of Commerce and Industry, the Indian food industry is growing at a CAGR of 11%. The expanding food industry is adopting connected packaging to ensure customer engagement along with providing product information just by scanning the QR code. Overall, the rising adoption of connected packaging in the Indian food & beverage industry is estimated to create market growth opportunities for smart tag packaging in India.

Category-wise Insights

Why the Radio Frequency Identification (RFID) Segment is considered to be the Most Lucrative Segment among Others?

Based on the technology, the Radio Frequency Identification (RFIDs) segment is anticipated to remain the most lucrative segment among the other technology-based segments. The Radio Frequency Identification (RFIDs) segment is projected to hold around 34% of the market share in the next ten years along with expanding at a CAGR of 9.9% from 2022 to 2032. The reason behind the same is the increasing preference for technology-based packaging among various end-use industries to ensure traceability, safety, and interactive packaging solution.

Competitive Landscape

The key players manufacturing smart tag packaging are trying to focus on innovation by launching new products along with adopting the advancement in technology to cater to the demand which is generated by various end-use industries. Also, the players are expanding their production capacity to meet the demand for smart, connected, and interactive packaging across the globe. Some of the latest development by the key players are as follows-

• In August 2022, Checkpoint Systems (CCL) launched SFERO, which enables retailers to tailor their technological requirements to individual outlets, maximizing security without compromising store design. This high-performance next-generation RFID system combines antennas and overheads.
• In July 2022, Paragon ID the European leader in ID solutions, announces the acquisition of 100% of the capital of Tracktio, a provider of asset tracking and RTLS.
• In May 2022, AVERY DENNISON, announced the partnership with Wiliot announces a strategic partnership. Avery Dennison, a strategic investor in Wiliot and the leading developer and provider of digital ID technologies is strengthening its commitment to scaling the IoT through integration.

Scope of the Report

Attribute	Details
Growth Rate	CAGR of 10.1% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2012 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Billion, Volume in Units, and CAG for 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Technology Application End Use Region
Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East and Africa
Key Countries Covered	USA Canada Mexico Brazil Germany United Kingdom France Italy Spain Russia China Japan India GCC countries Australia
Key Players Key Companies Profiled	ZD TECH GROUP CORPORATION LTD Alien Technology, Inc. Muehlbauer Holding AG Zebra Technologies Smart Tag Inc. Checkpoint Systems (CCL) Avery Dennison JRI Company Varcode, Ltd. 3M Company DS Smith Tyco Sensormatic Paragon ID Varcode, Ltd. Temptime Corporation EVIGENCE SENSORS APK-ID STARNFC Technologies Ltd.
Customization & Pricing	Available upon Request

Smart Tag Packaging Market by Category

By Technology, Smart Tag Packaging Market is Segmented as:

• Quick-response (QR Codes)
• Barcodes
• Radio Frequency Identification (RFID)
• Near Field Communications (NFCs)
• Bluetooth Low Energy (BLE)

By Application, Smart Tag Packaging Market is Segmented as:

• Bottles & Jars
• Blisters
• Trays & Clamshells
• Cans
• Boxes & Cartons
• Vials, Ampoules, & Prefilled Syringes
• Bags & Pouches
• Films & Wraps
• Mailers
• Labels, Tapes, & Tags

By End Use, Smart Tag Packaging Market is Segmented as:

• Food & Beverage
• Healthcare
• Cosmetics & Personal Care
• Shipping & Logistics
• Other Consumer Goods

By Region, Smart Tag Packaging Market is Segmented as:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Middle East & Africa
• Oceania

Frequently Asked Questions

In 2021, what was the worth of the global smart tag packaging market?

The global smart tag packaging market was valued at US$ 7.8 Billion in 2021.

During 2012-2021, what was the growth rate of the global smart tag packaging market?

From 2017 to 2021, the global smart tag packaging market expanded at a CAGR of 7.4%.

What will be the value of the global smart tag packaging market in 2022?

The global smart tag packaging market is projected to reach US$ 8.6 Billion by the end of 2022.

By end use which segment is estimated to remain the leading segment for the global smart tag packaging market?

The food & beverage segment is estimated to remain the leading segment of the global smart tag packaging market.

What boosts the demand for smart tag packaging market?

The high preference for advanced technology and safety during transit is anticipated to boost the demand for smart tag packaging across the globe.

At what rate is the Indian smart tag packaging market projected to grow?

The Indian smart tag packaging market is anticipated to register a CAGR of 11.2% from 2022 to 2032.