Smart packaging is increasing in popularity in consumer goods and logistics services.
This is according to a white paper recently published by Future Market Insights (FMI).
‘Over the course of the last decade, the role of packaging has evolved from merely securing goods and facilitating transportation, to acting as a differentiating factor for brands. Brand owners are aggressively investing in packaging with a key focus on sustainability, premiumisation, and customisation,’ the report reveals.
Promising growth prospects
FMI’s industry survey reports that smart packaging is on the increase thanks to the large amount of information being communicated and the reliability of protective packaging systems. Additionally, the cross-industry focus to prevent product tampering and curb counterfeiting means that smart packaging offers promising growth prospects, market opportunities and product development in the foreseeable future.
FMI lists the seven functions of smart packaging as:
It optimises supply chain processes, including project planning and inventory management.
It ensures product authentication, source, and production quality as promised to customers.
It communicates and interacts with consumers to instruct and inform them about products and brands with digital platforms.
It defends against product theft and unauthorised access to protect product exposure, distribution and use.
It makes product use easier during the delivery and disposal process, and for a better understanding of customer usage behaviour.
It provides seamless ordering, restocking, and returning to users.
It enables exact product location throughout the production and distribution cycle