The global intelligent packaging market size is estimated at US$23.08 billion, and is anticipated to grow to US$56.02 billion at a CAGR of 9.03 per cent in 2030, according to a new report by Adroit Market Research.
The incorporation of cutting-edge technology and functionality into conventional packaging strategies is referred to as intelligent packaging, also known as smart packaging.
To improve product safety, quality and customer experience, interactive elements such as sensors, indications, tracking systems, and interactive features are included in the packaging.
According to the report, information regarding the product’s origin, ingredients, expiration date, and storage conditions may all be found in real-time, thanks to the capabilities of intelligent packaging.
This guarantees product authenticity and aids in customer decision-making. And, to keep track of the product’s location and state along the supply chain, tracking systems can also be incorporated.
Tamper-evident seals and indicators are examples of elements that may be used in intelligent packaging to give visible clues if the box has been opened or tampered with. This helps to maintain the quality of the goods and guards against theft or unauthorised access.
Through the use of technologies like augmented reality (AR) and near-field communication (NFC), smart packaging may provide consumers with engaging experiences.
Customers may obtain more product details, promotions or tailored material by scanning or interacting with the box using their cell phones.
The report finds the market for intelligent packaging to be increasing steadily in recent years, and is anticipated to do so in the years to come, as customers are growing more conscious of the value of product quality, safety and sustainability – they look for details about the provenance, ingredients and authenticity of the products.
By offering real-time product information, traceability and interactive experiences, intelligent packaging satisfies these requirements, and increases customer engagement and confidence.
Across a range of industries, governments and regulatory agencies are enforcing stronger requirements around product safety, labelling and traceability.
By delivering precise and up-to-date information on product information, origin and handling, intelligent packaging solutions have the ability to assist businesses in adhering to these standards.
The report predicts the market for intelligent packaging to develop significantly over the next several years, and finds the market is expanding as a result of elements such as increased IoT and sensor technology usage, rising customer demand for transparency and product information, and the requirement for supply chain optimisation.
Additionally, collaborations between packaging firms and technology suppliers, ongoing innovation, and financial expenditures in R&D have an impact on the industry.
“Intelligent packaging presents chances to design interactive and interesting customer experiences. Businesses may offer more product information, incentives, loyalty programmes, and personalised content with technologies like QR codes, AR or NFC,” according to Adroit.
“By doing this, you may increase customer engagement, foster brand loyalty, and encourages repeat business.
“Better supply chain visibility and control are made possible by intelligent packaging. Businesses may receive real-time insights on inventory levels, product conditions, and location by combining tracking systems, sensors and data analytics.
“As a result, the performance of the supply chain as a whole is improved, losses are decreased, logistics planning is better, and inventory management is made more effective.”
The cosmetics and personal care business uses intelligent packaging to improve customer experiences and product security.
Information about product components, use guidelines, and possible allergies is available via smart labels and QR codes.
Consumers may use their smartphones to access more product information, lessons and tailored suggestions thanks to packaging that uses NFC technology.
Product integrity is ensured by tamper-evident features, which also prohibit unauthorised access.
One of the key geographical markets for intelligent packaging was found by the report to be North America. And, due to the existence of well-established companies, advancements in technology, and stringent regulations controlling product safety and labelling, the market is growing.
The US and Canada are the two nations found to be contributing the most to the market in this sector.
Leading provider of labelling and packaging materials, Avery Dennison, is highlighted as a company working hard to provide intelligent packaging solutions.
In order to provide customers with interactive experiences and the ability to track their purchases, companies have adopted technologies like RFID and NFC stickers.
Additionally, Avery Dennison has worked with other businesses to provide smart packaging solutions for a variety of sectors.