Smart Packaging Market Trends

Growth Drivers

• Increasing demand for smart biogenic packaging - Smart biogenic packaging is an emerging concept, where intelligent and active packaging technologies are coupled together to give consumers more trustworthy information about the state of food products.
  
  According to the Multidisciplinary Digital Publishing Institute Journal released in 2022, biosensors are essential in food packaging to assess the quality of the food by detecting chemical substances containing biological components such as antibodies, enzymes, and microorganisms. These sensors consist of a transducer that converts the biochemical signal detected by the bioreceptor into a quantitative response. Hence, the rising demand for smart biogenic packaging is predicted to elevate smart packaging market growth.
• Multiplying consumption of organic packaged food - More & more people are looking for healthy food & beverage options, such as organic, and vegan products that meet their nutritional requirements. For instance, as per a 2023 survey by the Organic Trade Association, the sales of organic products reached nearly USD 70 billion in the U.S. Moreover, organic food is a premium product, and the target audience must be able to observe the difference through the packaging. Therefore, companies are switching to organic packaging to improve their brand image. For instance, in  June 2023, Avery Dennison Corporation introduced four labeling papers made from recycled pulp, and alternative fibers intended for the premium packaging sector, including gourmet food, craft beverages, wine & spirits, and others.

Challenges

• Excessive cost and complications of technologies - The expense and complexity of the technologies are two major obstacles that are expected to restrict smart packaging market growth. Advanced materials, sensors, and software are needed for smart packaging, which raises the cost of installation and production. In addition, the incorporation of sensors and electrical devices inside the packaging may raise additional complexity and dependability concerns.
• Lack of knowledge among customers - Generally, the people of developing countries have limited knowledge about the technologies recently used in packaging. Therefore, most of the time, they remain incompetent to use the smart packaging tools.