On Feb 3rd, Future Market Insights (FMI) hosted a webcast in collaboration with Avery Dennison, one of the leading material sciences company, on the business value of Intelligent Packaging revolution and adoption across industries.
What were the Top Takeaways?
While we see rapid mainstream adoption of Intelligent Packaging across end use industries, we chose to delve deeper into the 3 most promising industries for IP – F&B, Consumer Markets & Healthcare – why, because the business value that IP brings in these industries is the strongest.
LIFECYCLE CURVE FOR INTELLIGENT PACKAGING TECHNOLOGIES AND INDUSTRY ADOPTION
Intelligent Packaging in F&B
- The biggest impact in this market is to combat Food wastage - $2.6 trillion worth food gets wasted every year
- Packaging technologies that monitor freshness and maintain product integrity will have the strongest adoption –sensors such as Time Temperature indicators, Gas Indicators
- F&B brands like Nestle, Kraft Heinz, Coca Cola are leading in adoption of advanced intelligent solutions in their product packaging
- Intelligent Packaging sales to benefit from growth in Ready-to-eat and Ecommerce creating latent demand 2X in Intelligent Packaging
ADOPTION AND IMPACT FOR KEY INTELLIGENT PACKAGING SOLUTIONS IN F&B
Intelligent Packaging in Healthcare
- In US and EU, pharma companies incur losses worth $200 billion/year due to counterfeiting and 90% of Pharma industry face supply chain challenges
- Time temperature indicators, RFID tags help combat these challenges
- Top healthcare brands like Siemens, AstraZeneca, Tenet Healthcare in the forefront of adopting Intelligent Packaging
INTELLIGENT PACKAGING - ANSWER TO ANTI-COUNTERFEITING, EXTENDING DRUG LIFECYCLE AND ENHANCING PATIENT EXPERIENCE
Intelligent Packaging in Consumer Products
- Intelligent Packaging is the new CX Tool in Consumer Products!
Top applications for Intelligent Packaging in Consumer Markets
- The penetration of is today at 1% and could rise to ~2.5% by 2031, soon becoming mainstream.
- Top brands like P&G, Loreal, Henkel continue to lead with inspiring examples
INTELLIGENT PACKAGING SALES IN CONSUMER MARKETS
Intelligent Packaging Adoption: Who are the frontrunners?
February 03, 2022