The global market for track and trace packaging was valued at $1.59 billion in 2022, having grown by more than 76% since 2017. Market value is forecast to increase at a CAGR of 9.5% to reach just over $2.5 billion by 2027. Market growth is likely to result from the ongoing development of blockchain technologies and the Internet of Things (IoT), which permit better tracking of assets and recording of transactions.
What does the report cover?
The track and trace market is driven by the emergence of new technologies such as digital identities and blockchain platforms, as well as the desire by brand owners and retailers to improve efficiencies within the supply chain and to address the threats posed by counterfeit goods. The pandemic has highlighted the importance of track and trace packaging to address the presence of counterfeit/fake goods in the supply chain, so relatively robust growth is now anticipated for the coming years.
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What will you discover?
- The pandemic created huge disruptions to global supply chains, highlighting the importance of tracking and tracing products more efficiently
- Supply chains throughout the world are increasingly moving towards individual item tracking, thereby creating a new and more critical role for product packaging
- Demand for track and trace packaging is also being driven by factors such as the growing worldwide prevalence of counterfeit and illicit goods, as well as the need to communicate with consumers.
The Smithers methodology
- How recent disruptions such as the pandemic have resulted in dramatic supply chain changes
- Historic, current and future demand for track and trace solutions in key end-use applications
- Pinpoint key future growth areas and identify factors driving these changes
- Identify market challenges and likely future technological innovations.
This report is based on a new and exclusive assessment of market changes since 2017 and likely directions up to 2027.
Market estimates are based on primary and secondary data gathered during Smithers’ extensive research programme.
Primary research included interviews and feedback from leading brand owners, as well as suppliers of the various technologies used for track and trace purposes. Secondary research included production data and trends in key end-use markets and statistics from various government and industry association websites.
Who should buy the report?
About the author
- Suppliers of security packaging solutions
- Converters and technology integrators
- Coding and marketing print suppliers
- Logistics and distribution companies
- Industry consultants and analysts
Jonathan Thomas has worked in the market research and information field for almost 30 years. Jonathan has worked for Key Note and
Leatherhead Food Research, and as a freelance consultant has worked with Smithers since 2016. During that time, he has researched and authored reports covering various sectors of the global packaging industry, as well as preparing white papers and presentations.