Intelligent Packaging Market is projected to grow at a CAGR 10.59%
Knowledge Sourcing Intelligence announces the publication of a new report on “Intelligent Packaging Market – Forecasts from 2020 to 2025” to their offering.
The growing demand for the retention of quality, the nutritional value of food products, benefits of smart pharmaceutical labeling, expanding eCommerce activities, among others, are collectively expected to drive the growth of this market.
According to the report, the Intelligent Packaging Market is expected to reach US$11.083 billion by 2025, from US$6.059 billion in 2019.
The growth of Intelligent Packaging market is dependent on several factors as mentioned below
Currently, consumers have widely adopted the practice of shopping online and with CoVID19 the practice of availing retail therapy online has been augmented. Concomitantly the global consumers’ list of considerations that would have a plausible influence on their purchasing behavior, is not limited to how the product will serve the consumers’ intended use and the quality of the product. In the case of food and beverage, a variety of other aspects have also come into play due to the growing awareness as consumers of both developing and emerging economies are spending ample quality time to learn about how their edibles are derived and from where the raw materials are sourced. And this proclivity also permeates to expecting mothers and parents, who are concerned about the transparency and authenticity of the products as well as safety and quality assurance allowing them to make informed decisions as far as their daily alimentation is concerned. Also, the consumers need to be guaranteed that the manufacturers are aware and are in control of the practices adhered to along the entire supply chain has emerged. Thus, the food and beverage application of intelligent packaging is expected to provide a meteoric growth opportunity for the market along with the applications in pharmaceutical, personal care as well as high-end consumer electronic and sensitive electronic components.
Updates on Intelligent Packaging market developments
September – Product Innovation – TPG Rewards Inc., based out of Aventura, Florida, USA had reportedly launched the largest program with regards to on-pack intelligent packaging for Kraft Heinz, in Pitts burg Pennsylvania USA that capitalizes on the former's proprietary Intelligent Packaging Platform ultimately creating a unique innovative solution benefitting both the manufactures and consumer throughout the nation. This particular program includes the dissemination of a savings offer and content providing recipes right in the store. With regards to TPG Rewards Inc; proprietary technology, the manufacturers and retailers can comprehend the consumption patterns providing insights on pre-purchase as well as post-purchase customer behaviour.
June – Product Launch – In response to the demands for full disclosure, FrieslandCampina’s Friso Gold has reportedly come up with the industry’s only innovation called TrackEasy that address the concern of parent consumers in Malaysia that allows them to trace the entire journey of Frisomum Gold and Friso Gold right from the source in the Netherlands thereby assuring the authenticity, safety, and quality of the product, Re QE codes, are placed in the bottom of the Friso Gold 900g tins that need to be scanned.
July – Product Innovation – A startup based out of Nantes, Sainte-Luce-sur-Loire, France called LivingPackets has announced the development of the second generation of its reusable smart packaging called The Box that features a rigid outer shell and fold flat for storage with approximately 32 liters of storage space, which is adjustable depending on the cargo and does not necessitate bubble wrapping. These are for the starters. Further, the products feature a 7.8-inch e-ink screen in place of a paper label which facilitates updating for details like the address and such with the aid of the built-in internet connection. In addition to the suite of sensors for monitoring aspects like temperature, humidity, and shocks which the first generation had, this upgraded version that has been launched has sensors pertaining to pressure, motion, weight, and light. It also has an internal camera that enables the users to monitor the interiors to ensure the integration of the contents. The other two unique features are the inbuilt microphone and speaker enabling the user to place a call to The Box and speak directly to the mail carrier as well as an electromechanical lock that secures the package till the completion of delivery. Above all, it is reusable and is slated to be in mass production by the 3rd quarter of 2020.
As a part of the report, the major players operating in the intelligent packaging market which have been covered are DuPont de Nemours, Inc., Amcor plc, Water.IO, MAKA RFID, ScanTrust SA, and Tetra Pak International S.A.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/intelligent-packaging-market
This report segmented the intelligent packaging market on the basis following terms :
By Packaging Technology
- RFID Tags
- Temperature Indicators
- Freshness Indicators
- Food and Beverages
- Pharmaceutical and Healthcare
- Electronic Products
- Cosmetics and Personal Care
- By Geography
Middle East and Africa
- South Korea
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