Market Trends of Asia Pacific Active and Intelligent Packaging Industry
RFID is One of the Factor Driving the Market
- The use of intelligent packaging in the supply chain management of food goods helps prevent theft and counterfeiting while also improving the image of food firms in terms of branding and marketing. By employing RFID smart and intelligent packaging in the eCommerce and supply chain, users can track products at every stage of their journey, including their location. A consumer can get more information via RFID labels and tags than from a regular label.
- High prices, limited availability, and a lack of consumer knowledge of flexible plastic materials are all limiting issues in the RFID Intelligent Packaging market's growth. The shortage of integrators and complete product designers is another factor. Some of the opportunities in the RFID intelligent packaging market are related to advances in printing technology, which can boost the market.
- Manufacturers can achieve this goal by utilizing RFID technology for plant asset management. To oversee and maintain the quality and output of a manufacturing process, a combination of RFID tags and sensor technologies is a suitable solution for many locations in a production facility, such as conveyors, cameras, boilers, tanks, pipes, and so on. RFID tags are used to track movable assets in the manufacturing industry, such as tools, production equipment, and process components (e.g., doors, engine, wheels, mirrors, and other vehicle pieces) that are part of the end product.
- The increase in counterfeit products, especially in the pharmaceutical and personal care industries in emerging economies, also compelled companies to use technologies, such as RFID during packaging. All these factors account for a substantial rise in the demand for active and intelligent packaging. However, the initial capital needed due to higher costs of installation and implementation and security issues regarding with these systems are challenging the growth of the market
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Pharmaceutical Plays a Significant Role in Market Growth
- The growing significance of modern packaging in the pharmaceutical industry has led the brands to utilize the potential of distinctive active packaging to stand out from the rest of their competition and increase profitability.
- Initiatives by companies, such as Amcor and others, which design more than two-thirds of their pharma packaging to be recyclable or reusable (Formpack Blister + PTF portfolio), are expected to drive recyclability among the region's pharmaceutical packaging providers, driving sustainability.
- Serialization continues to be a driving factor for flexible sterile packaging used for medical equipment, devices, implantable devices, and consumables, such as vials and syringes, among others. The increased demand for administering oral drugs, prescription dose medicines, and over-the-counter (OTC) medicines are expected to increase the use of flexible aluminum foil in the pharmaceutical sector.
- The pharma brands continue to evolve in the market, covering most of the beauty and personal care categories. Pharma brands’ participation in promotional campaigns, such as discounts and offers in essential chemists/pharmacies, drugstores/para pharmacies, and online retailers, throughout the year, continue to stimulate purchases.
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