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Smart Pharmaceutical Packaging Demand Poised for Growth

The integration of NFC technologies into pharmaceutical applications, such as time-temperature indicator labels, is among the cutting-edge technologies Smithers Pira identifies as pushing brand owners toward intelligent packaging.

According to new Smithers Pira research, The Future of Active & Intelligent Packaging to 2023, the combined active and intelligent packaging market value will reach $5.68 billion in 2018, with the active packaging market valued at $4.62 billion and the intelligent packaging market valued at $1.06 billion. The combined market is forecast to grow at an annual average rate of 5.9%, hitting $7.56 billion by 2023.

Active packaging demand is being driven by the desire to keep food fresher for longer, to reduce food waste, and to promote more convenient packaging for consumers. Although it is more mature and has slower growth predictions compared to intelligent packaging, there are substantial development opportunities for active packaging technologies in niche markets.

Intelligent packaging, on the other hand, is at a developmental stage of the product life cycle. Intelligent packaging is a dynamic and potentially high-growth market with developments in printed electronics, microsensors, authentication platforms, and the Internet of Things (IoT) driving the adoption of new technologies.

Brand owners want a usable product that adds real value to their brand, not just a technology or sub-component, or a product that is simply a short-term gimmick. Smithers Pira identified five trends that are boosting the appeal of intelligent or ‘smart’ packaging.

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Break out of the ordinary: see what’s new in life sciences packaging