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Digital Packaging Market - Key Growth Factors and Industry Analysis 2017-2025
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The global digital packaging market is observed to be in the germination stage and is anticipated to expand considerably over the forecast period 2017-2027. The US$ 800 billion global packaging market offers enormous growth potential for the digital packaging segment in terms of engineering, design, innovation and product development activities. Market players entering into the digital packaging market are streamlining their product life cycle (PLC) strategies in order to grab the early mover’s advantage.
Historical analysis into the evolution and growth of digital packaging market has brought to the surface innovative products in packaging that include smart tags, labels, smart pharmaceutical bottles, hydration reminder smart water bottles, interactive packaging, digitally connected packaging systems, etc.
Global Digital Packaging Market: Market Dynamics
Emergence of internet of things (IOT) has led to packaging manufacturers incorporating smart sensors into their packaging solutions in order to broaden the packaging functionality. Smart sensors used in the digital packaging market have the ability to track information regarding temperature, motion and pressure. Smart sensors, smart labels and barcodes have allowed manufacturers to track products in the supply chain and logistics processes. End use industries such as food, beverages and pharmaceuticals have prominently leveraged the use of connected technology to gauge and record information pertaining to temperature, internal atmosphere, pressure and motion.
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In February 2017, manufacturer of snacks foods Frito-Lay, Inc. incorporated digital technology in the packaging of their tortilla-chip snack Tostitos. The bags used for packaging of Tostitos are incorporated with alcohol sensors coupled with LED lights and NFC technology. The smart sensors allowed consumer engagement by promoting the notion safe driving.
Manufacturers and especially consumer brands are looking at packaging as the gateway to the perceptual understanding among consumers. The use of QR codes on packaging has enabled consumer packaged goods (CPG) manufacturers to engage consumers in innovative ways and drive sales and business growth. QR codes have enabled brands to offer discounts, prizes, gather feedback or supply product related information.
Digital packaging market is observed to gradually include traditional packaging formats which are remodeled to incorporate the principles of digital packaging. Smart bottles are incorporated with digital technology to provide enhanced functionalities such as hydration reminders, medical dosage reminders, time and temperature indication, tracking and recording the quality of wines, etc. The smart bottle segment within the digital packaging market itself is estimated to be reach US$ 200 million by 2024.
Global Digital Packaging Market: Market Segmentation
The global digital packaging market is segmented as per product type, technology type, and application type.
As per the product type, the global digital packaging market is segmented into
Smart sensors
Smart bottles
Smart labels
Smart tags
Others (flexible bags, boxes, cartons, etc.)
As per the technology type, the global digital packaging market is segmented into
NFC
RFID
QR Code
Barcodes
Wi-Fi
Bluetooth
USB
Others (printed electronics)
As per the application type, the global digital packaging market is segmented into
Water Bottles
Pharmaceutical
Food
Beverages
Alcoholic
Non-Alcoholic
Cosmetics and Personal Care
Others (printed electronics, etc.)
Global Digital Packaging Market: Regional Outlook
Geographically the global digital packaging market is segmented into 7 key regions including North America, Latin America, Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East and Africa (MEA).
Global Digital Packaging Market: Key Players
Some of the players operating in the digital packaging market include Thin Film Electronics ASA, Avery Dennison, Trago, Inc., Thermos L.L.C., AdhereTech Inc., Weber Packaging Solutions, Inc., Saralon Gmbh, Amcor Limited
About TMR
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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