Printed Electronics is a fast-developing enabling technology that employs electrically functional inks and traditional printing techniques to revolutionize the fabrication of various electronic devices to add intelligent and interactive features to physical items, as products packaging. Like every emerging technology, Printed Electronics has been developed for a few decades and moved from the research-oriented to commercially-available production. The technology has taken one more step further into innovation by enabling printing on various substrates, such as flexible plastics, thin films, paper and cardboard. As a result, the traditional passive consumer packaging is facing alternatives and more advanced forms of packaging are being introduced to the market. The entire communication system of the enhanced packaging can be enabled by low-cost, lightweight and flexible electronics as NFC tags, batteries, displays, antennas, and other. Therefore this paper aims to explore the characteristics of printing electronics and its potential for smart interactive packaging innovation including available printing techniques, conductive materials and substrates. Paper encompasses an extensive literature review and a set of empirical observations from the industry. The key findings provide a list of potential electronics that can be applied onto smart interactive packaging, as well as a value chain of operational activities related to the manufacture of PE-enabled consumer packaging.