Connected Packaging Technology Growth Opportunities

Several industries are witnessing a digital transformation due to the rise in technologies and Industry 4.0. The food and beverage (F&B) industry is seeing a new range of opportunities with improved connectivity, better food safety, and consumer interaction.
F&B considers food safety to be prime due to the burden of food contamination and foodborne diseases that affect millions across the globe. Food recalls tamper brand owner's reputation and brand identity, and smart packaging is the way to reduce that and improve food safety. Smart packaging consists of external devices or components that can sense internal properties, such as pH, temperature, presence of gases, or moisture, and denote them through color change or external indication. Connected packaging, further classified as intelligent and interactive packaging, offers a user-defined experience and intelligent real-time monitoring of food properties. Digital tools and technologies, such as the Internet of Things (IoT), radio frequency identification (RFID), near-field communication (NFC), barcodes and quick response (QR) codes, advanced data analytics and the cloud, and smart sensors, can transform F&B sustainably with benefits of enhanced product quality, reduced energy consumption, and optimized processes.
With increasing consumer awareness of sustainability, source tracking, and digital connectivity, fast-moving consumer goods (FMCG) retailers are implementing improved digital technologies and intelligent packaging tools to enhance consumer interaction and boost product sales. Companies must spend capital on marketing and customer interaction programs to build strong relationships. With conventional packaging, FMCG and retail companies cannot prioritize microtargeting and target niche customer segments.
Advances in data carrier development (RFID, printed electronics, flexible sensors, NFC, and smart labels) play an important role in identifying material properties and determining product safety and serve as the first point of contact with the customer. Although high-end semiconductor material improves traceability, there is an increasing need to develop efficient data carriers. Sensing devices with enhanced sensitivity and flexibility are under development to facilitate integration with diverse packaging substrates. The growing occurrence of counterfeit medicines has driven the implementation of stringent legislation worldwide to secure supply chains. To ensure consumer safety compliance, control quality, and avert revenue loss, drug serialization, validation, and traceability are mandatory from manufacturers to end dispensation. With the rising digitalization trend and the need for effective supply chain management, pharmaceutical companies are expected to invest in advanced data carrier technologies, including NFC, RFID tags, QR codes, and barcodes. Connectivity tools, such as digital user interface tools, AI-/ML-based algorithms, and AR-/VR-/hologram-based digital interaction, create a user-defined experience. Digital tool improvements are focused on reducing the complexity of the digital architecture, simplifying the interactive space for better access, and minimizing costs for global adoption.
This analysis focuses on key industry developments and advances in intelligent and interactive packaging in the F&B, FMCG, and pharma industries. The implementation and integration of connected packaging in different F&B, FMCG, and pharma products are covered, providing insights on industrial adoption and future perspective. In addition, the study highlights challenges and drivers, important policies, innovations, and the key market participants in connected packaging in the F&B, FMCG, and pharma space.
This study discusses the following:
•     What are the current research advancements in connected packaging?
•     What are the progress and current scenario of connected packaging adoption in F&B, FMCG, and pharma?
•     What are the key advancements by technology developers and brand owners for manufacturing and commercial adoption?
•     What initiatives are industry participants undertaking to accelerate adoption?