Digital Product Passport Market worth $1,780.5 million by 2030- Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Feb. 4, 2025 /PRNewswire/ -- The Digital Product Passport Market is slated to expand from USD 185.9 million in 2024 to USD 1,780.5 million by the year 2030 at an impressive CAGR of 45.7% over the forecast period, according to a new report by MarketsandMarkets™.

Browse in-depth TOC on "Digital Product Passport (DPP) Market"

132 – Tables
 48 - Figures
210 – Pages

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Scope of the Report

The combination of regulatory pressure, technological readiness, and increasing consumer expectations is driving Digital Product Passport (DPP) market growth, establishing DPPs as foundational elements of sustainability and circular economy strategies across various industries. Industry frontrunners like Tommy Hilfiger and Holz Weiler are implementing DPPs to fulfill consumer preferences for ethically sourced and sustainable products, especially in the fashion sector. To ensure transparency in sourcing, manufacturing, and recycling, the EU Ecodesign for Sustainable Products Regulation (ESPR) and EU Battery Regulation mandate comprehensive lifecycle tracking in industries like automotive electronics, textiles, or electronics in Europe. Battery passports are also becoming essential for monitoring sustainability and supporting decarbonization objectives. On the technology front, blockchain and IoT facilitate efficient material tracking, while AI-driven lifecycle analysis enhances compliance and operational efficiency. These technologies render DPPs both scalable and practical, even in intricate global supply chains.

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By lifecycle stage, distribution segment will register the fastest growth rate over the forecast period owing to enhanced supply chain visibility and immutable tracking

The distribution stage is set to become the fastest-growing segment in the Digital Product Passport (DPP) market, driven by the increasing complexity of global supply chains and the demand for real-time traceability. Industries are under increased stress to guarantee authenticity, prevent counterfeiting, and comply with region-specific laws like the European Union's Ecodesign for Sustainable Products Regulation (ESPR) as goods travel across national borders. By providing unalterable, blockchain-enabled documents tracking goods every step of their life, DPPs effectively tackle these obstacles and guarantee transparency and compliance. This attribute is crucial in industries such as pharmaceuticals, electronics, and luxury products, where product authenticity and traceability are critical. Companies are also using DPPs to improve consumer trust via provable data on product sources, simplify inventory management, lowering losses.

Rising adoption of digital product passport to combat counterfeiting of luxury fashion products will push fashion & textiles as the largest end user by market size in 2024

Fashion & textiles sector is poised to become the largest end user of DPPs by market share in 2024 due to the sector's strong regulatory pressures, consumer demand for transparency, and the sheer volume of global production. The EU Strategy for Sustainable and Circular Textiles mandates that brands provide detailed lifecycle data on materials, production processes, and recyclability. To satisfy these needs and improve their sustainability credentials, top fashion companies including Stella McCartney and Patagonia have turned to DPPs. Adidas, for instance, uses DPPs to showcase ethical sourcing and promote transparency in its products, including those made from recycled ocean plastics. Furthermore, luxury brands such Prada and Burberry are using DPPs to track raw ingredients such as sustainable leather and organic cotton and fight counterfeit goods. Consumers increasingly demand sustainable fashion which drives companies to employ DPPs to distribute provable information on their source. With its reliance on global supply chains, material diversity, and intense scrutiny, fashion and textiles dominate the DPP market.

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Asia Pacific is set to become the second largest region by market share behind Europe, fueled by rising export requirements and a growing focus on sustainability

Asia Pacific ranks as the second largest region by market share in the DPP market, propelled by its extensive manufacturing capabilities, evolving regulations, and increasing emphasis on sustainability. Nations such as China, Japan, and South Korea lead in worldwide production within industries like electronics, textiles, and automotive, where DPPs are being more widely utilized to satisfy global compliance requirements and consumer expectations. China, for example, has embraced blockchain for traceability in electronics and textiles, with businesses including Huawei deploying DPP-based systems to guarantee transparency in their supply chains. In Japan, automakers like Toyota are leveraging lifecycle tracking systems for EV batteries to comply with global sustainability initiatives. Hyundai Motor Group of South Korea is also considering battery passports to meet worldwide circular economy targets. Moreover, increasing export demands to Europe, where DPP regulations are more stringent, compel Asian producers to implement these systems to preserve market access. Asia Pacific's function as a worldwide manufacturing center and growing consciousness of sustainability reinforce its status as an essential participant in the DPP market.

Top Key Companies in Digital Product Passport Market:

The major players in the Digital Product Passport Market include Siemens (Germany), 3E (US), Kezzler (Norway), and Circulor (UK), along with SMEs and startups such as Circularise (Netherlands), The ID Factory (Italy), Renoon (Netherlands), Spherity (Germany), and Carboledger (US),

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