The Physical Internet (PI) concept represents a paradigm shift in how logistics and supply chain management can be conceptualised and implemented. Through a meticulous literature review, this study maps the current state of PI research, spotlighting the necessity for a deeper dive into unexplored areas. The analysis reveals significant opportunities for enhancing logistic efficiency and sustainability, providing a foundation for future research and practical applications. This work invites scholars and industry practitioners to explore the transformative potential of PI. In the face of the dynamically evolving discussion on the Physical Internet, this article offers an in-depth analysis of the literature on this concept, shedding light on current research trends in this new face of logistics, challenges, and unexplored areas. The focus is on optimization models, collaboration, and system architecture, identifying knowledge gaps in areas of human impact on the management of the future logistics system and flows, legal aspects, financial management, economic feasibility, social and environmental effects, readiness for cooperation, security, and cultural differences. The literature review emphasizes the importance of PI for sustainable development and the goals of Industry 4.0, pointing to its potential role in transforming global logistic processes. By examining challenges, proposing solutions, and highlighting the potential of PI principles in improving logistic processes, this work constitutes a valuable resource for researchers, practitioners, and policymakers aiming to understand and implement the concept of the Physical Internet.