Smart Packaging (Cont’d from Page 5)
expectations are for it to drop further (figure 2). Most of the existing smart packaging solutions are in the “active” realm, using advanced chemistry and ma- terials to offer corrosion/moisture control or thermo- chromatic capabilities, primarily for food and beverag- es, health care, and personal care consumer products. Connected packaging, which can communicate with other packages or the internet, is still a relatively un- tapped opportunity,with simple bar coding and RFIDs used increasingly for tracking and tracing package lo- cation in the supply chain. Survey results indicate that adoption of connected packaging varies by industry, with consumer packaged goods, and manufacturing and industrial companies expressing the highest levels of interest. A Strong Defense Packaging can be a valuable layer of defense against internal and external threats to product integrity.The value at stake is large. Food retailers estimate that 31 percent of all food products are discarded due to spoil- age, totaling US$146 billion in losses, and in the area of counterfeit goods, smart packaging could help to combat losses valued at more than US$460 billion.3 Smart packaging cannot be ignored because not only can it create enormous value, it can disrupt a number
adoption of connected packaging varies by industry, with consumer packaged goods, and manufacturing and industrial companies expressing the highest lev- els of interest. However, connected packaging is still in the initial stages of growth and no application or industry is close to reaching maturity. Fragmentation The smart packaging industry is still highly fragment- ed, as both large- and small-to-medium-sized enterpris- es continue to focus on narrow, one-off solutions, as opposed to delivering an integrated, cohesive offering for large-scale implementation. The interconnected nature of the ecosystem and the wide array of par- ticipants from infrastructure providers to packagers, brands, retailers, and consumers have prevented smart packaging from accelerating rapidly. Innovation in the space has been driven primarily by small startups, and solutions have yet to achieve significant scale. Dominant industrywide Internet of Things (IoT) standards have yet to take hold,much like the days preceding the arrival of Bluetooth or Wi-Fi in local wireless networks.The cost of sensorization and connectivity is still high, even though it has declined significantly in recent years and the report states that
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