Smart Packaging Industry Estimated to Reach $6 Billion By 2023

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At a recent AIPIA event, Smithers Pira addressed how inventory control, validity, authenticity, security and the consumer experience will all be impacted by technologies such as RFID; other companies presented their latest innovations.

The time has come when the technology in packaging is in the materials in which a product is packaged. Due to the excessive waste generated on the planet, this aspect of the evolution of boxes, bottles, trays and sachets continues to rise, with surveys being conducted at agencies such as Singapore’s Agency for Science, Technology and Research (A*STAR), which is looking for biodegradable materials to pack without creating pollution. Identifying products, counting stock, controlling validity and authenticity, providing security against theft and ensuring a pleasurable consumer experience are among the most current goals.

The smart packaging sector is estimated to reach $6 billion by 2023, according to Smithers Pira‘s “The Future of Active and Intelligent Packaging to 2023” consultancy report. The data was presented to the public at the Active and Intelligent Packaging Industry Association (AIPIA) event, held in New Jersey on June 3-4, 2019, which brought together solution providers and buyers, including representatives from paper companies. Most of the solutions incorporated radio frequency identification (RFID), primarily Near Field Communication (NFC) and passive ultrahigh-frequency (UHF) tags. Also shown were systems based on image reading, as well as hybrid solutions utilizing RFID.

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