Smart Packaging Market Regional Analysis:
APAC Market Insights
Asia Pacific industry is anticipated to dominate majority revenue share of 40% by 2035. The rising e-commerce sector across the region will massively support the expansion of the market. The majority of enterprises now use custom-made corrugated boxes instead of plain, uninteresting boxes. As a result, smart packaging is becoming a more viable choice.
China’s e-commerce sales have increased greatly in the past few years, resulting in the growth of the smart packaging industry in this country. Furthermore, as per the recent data from the International Trade Association (ITA) published in December 2023, over half of all e-commerce transactions are occurring in China
The quick advancement in the Internet of Things (IoT) will lead to the smart packaging market expansion in Japan. The experts of Research Nester predict in 2023 that Japan's Internet of Things (IoT) industry is growing quickly, with a current market value of JPY 1.53 trillion (USD 9.47 billion) and expected to rise to JPY 1.85 trillion (USD 11.45 billion) by 2024.
In South Korea, the smart packaging industry will grow because of the rising online population in this country. This directly increases the purchase from the online apps, which leads to excessive use of smart packaging. The Research Nester Survey performed in January 2024 stated that in 2023, almost 97% of the population in South Korea used the internet.
North America Market Insights
The North America region will account for a significant share of profit in the smart packaging market owing to the rising inclination towards sustainable packaging options. For instance, with the help of the UN Environment Programme and the Ellen MacArthur Foundation, over 500 organizations have joined together to create the Global Commitment, which aims to create a circular economy for plastics.
The rambling demand for secured medicine packaging in the U.S. will drive the market growth of smart packaging.
The rising consumption of alcohol is booming the smart packaging market in Canada. In the alcoholic beverage industry, smart packaging satisfies customer engagement and quality assurance requirements.
