Yes, most carriers will assign a unique tracking code (and shipping label) to each shipment in the order, and also a "master" tracking code for the entire order. Depending on who the recipient is they may want to watch the entire order from the single master tracking code, or keep an eye on each individual shipment.
It's not common, but sometimes individual shipments / parcels get separated from their orders in transit, so it can be helpful to have the individual tracking codes.