Intelligent packaging involves various technologies such as Radio-frequency identification tags (RFID), indicators, biosensors, and other technologies. It basically enables convenience and communication between the service providers and end-users. The intelligent packaging provides functions such as tracing and tracking, sensing, recording, detecting, communicating, and others. These functions further ensure the safety of the product, enhance the product quality, and extend its shelf life.
Stringent food safety policies and an increase in demand among retailers & e-commerce industry are driving the demand for intelligent packaging. However, the high cost associated with the technologies involved in intelligent packaging is the major factor hindering the market growth. Moreover, the development is printed technology is anticipated to be opportunistic for market growth in the near future.
Key Market Drivers and Restraints:
Increasing demand among retailers and e-commerce
The retail & e-commerce industry has been one of the major adopters of digital and emerging technologies. In addition, the packaging is one of the crucial parts of the industry as it reflects the condition and quality of the product. Also, the majority of the time consumers judge the products through its packaging, which in turn creates the need for good packaging of any product. Several times during transportation due to improper handling the products get affected badly, which creates the demand for intelligent packing solutions. Moreover, intelligent packaging allows the tracking and identification of the products in real-time enabling retailers to keep track of their products and ensure safe delivery. Also, intelligent packaging further enhances the product lifecycle, which is also the major factor driving the demand for intelligent packaging in the retail and e-commerce industry.
Stringent food safety policies
The food safety concerns are rising rapidly as consumers are becoming more aware of the safety of their food. In addition, the governments worldwide have introduced stringent food safety policies due to, several cases in the past over selling the improperly packaged food to the customers. The consumption of such food may lead to food poisoning or other major consequences. Thus, governments have made strict policies over the packaging of the products, which in turn is driving the demand for intelligent packaging as it improves the food lifecycle as well as enhances its safety.
Key Industry vertical:
The Retail & E-commerce industry segment is anticipated to dominate the intelligent packaging market during the forecast period
The increase in the need to track the goods in transit and ensure the safety & delivery of the products are the major factors boosting the demand for intelligent packaging in this segment. Moreover, the growing trend of online shopping is also fuelling the demand for intelligent packaging as retailers are continuously trying to improve their product offerings through numerous ways such as services, faster delivery, and packaging.
Regional Market Scenario:
Asia-Pacific will lead the growth in this market
It is expected that North America will hold the largest market share in the global intelligent packaging market. However, Asia-Pacific (APAC) is projected to hold the highest CAGR during the forecast period. North America is estimated to dominate the global intelligent packaging market due to, the presence of major market players in this region. In addition, the presence of the majority of the pharmaceutical and food & beverage industries is also fuelling the market growth in this region.
On the contrary, the growth of the intelligent packaging market in the Asia-Pacific region is mainly attributed to the increase in awareness of food hygiene and safety among consumers. In addition, rising concerns over counterfeiting of goods among manufacturers are also fuelling the market growth in this region.
Key Market Players
• American Thermal Instruments
• Avery Dennison
• BASF SE
• Huhtamaki Group
• International Paper
• Smartrac N.V.
• TempTime Corporation
• Thin Film Electronics ASA
Market Segments: Conversational AI Market
- By Packaging Type
- Active Packaging
- Intelligent Packaging
- By Industry Vertical
- Retail and E-commerce
- Manufacturing and Logistics
- By Region
- North America
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- South America
- Rest of South America
• Industry Associations
• Patent Websites
• Company Annual Reports
• Company Websites
• Key industry leaders
• Ministry of Electronics & IT (Govt. of India) articles
• IEEE journals
• Technology consultants
• System Integrators
• BFSI experts
Key Questions Answered
• What are the key growth regions and countries?
• What are the important types and technologies being used?
• What are the market players doing, in terms of research and development?
• Which are the new applications for this market?
• What are the integrations happening?
• What are the recent news, developments, mergers, or large value deals?
• Products & solution providers
• System Integrators
• Regulatory Authorities
• Research and Innovation Organizations