Impending Surge in E-Packaging and Intelligent Packaging
April 29, 2019 | PRNewswireEstimated reading time: 2 minutes
The IDTechEx Research report "Smart Packaging 2019-2029" covers the upcoming requirements and drivers for smart packaging, feedback from Fast Moving Consumer Goods (FMCG) brands on their views of smart packaging, assessment of enabling technologies, smart packaging case studies, key players and electronic smart packaging forecasts. This analysis is done on a global basis, from assessing the rise of QR codes in China to the latest electronic smart labels based on novel semiconductors and other components that are enabling a radical change in the $400 billion+ packaging industry.
IDTechEx analyzes and concludes in this report how the global demand for electronic smart packaging will reach a value of $1.8 billion in 2029 based on the value of the electronics in packaging—more if the infrastructure, software and services are also included. Based on an impartial analysis, IDTechEx expects that almost 39 billion packages sold in 2029 will feature an electronic feature of some sort to enhance the package.
Smart packaging can offer many different benefits to the brand, retailer and consumer. For example, it addresses the need for brands to reconnect with the customer or face oblivion from counterfeiting to the aging population's need for drug delivery devices.
Smart (or intelligent) packaging for goods is packaging which goes beyond the basic function of passively containing and protecting the product by adding useful functionality with real benefits for the consumer.
There are many current and developing emerging technologies which are driving change in the smart packaging segment, often with very different purposes, which include:
- RFID for wireless item identification (usually invisible to the consumer)
- Electronic Articles Surveillance (EAS) for anti-theft (usually invisible to the consumer)
- QR codes for identification
- Data loggers for temperature, shock, vibration, etc. monitoring
- Interactive smart packaging including illumination, sound, measuring (such as smart blister packs) and much more
- Chemical indicators: temperature, frozen chemical visual indicators
- Internal active packaging: whereby the package interacts with the contents to keep it fresher for longer, for example
- External active packaging: whereby the package releases aromas, for example, to entice consumers
Drivers for Smart Packaging
There are prominent drivers for smart packaging, including the aging population, more wealthy consumers, requirements for more data on products purchased, entertainment value, the need to distinguish products amidst greater competition and tougher legislation.
Smart packaging can also solve big challenges such as monitoring patients not taking medication at the correct times when needed or informing that the medicines or foods are still safe to consume.
Across that backdrop, there are other significant impending changes, from increasing home delivery of products and groceries to many new enabling technologies from machine vision systems to identify items to the increasing adoption of RFID to printed electronics labels.
Global, Detailed Assessment of Smart Packaging
Smart Packaging 2019-2029 covers the full picture and opportunities - in addition to the challenges. To gain very high volume, and therefore lowest costs, by selling across all industries, basic hardware platforms must be developed. These are discussed. The detailed market forecasts, statistics for associated industries, pros and cons, technology choices and lessons of success and failure provide a lucid, compact analysis.
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