NewswireTODAY - /newswire/ - Pune, Maharashtra, India, 2013/02/22 - Global Demand for Electronic smart packaging devices will grow rapidly to over $1.7 billion by 2023.

This report reveals the global demand for electronic smart packaging devices is currently at a tipping point and will grow rapidly to over $1.7 billion by 2023. The electronic packaging (e-packaging) market will remain primarily in consumer packaged goods CPGreaching 35 billion units that have electronic functionality in 2023.

E-packaging addresses the need for brands to reconnect with the customer or face oblivion from copying. That even applies to retailer own brands. It addresses the ageing population's consequent need for disposable medical testers and drug delivery devices. Electronic packaging addresses the fact that one third of us have difficulty reading ever smaller instructions.

Electronics is already used in packaging from winking rum bottles and talking pizza boxes to aerosols that emit electrically charged insecticide that chases the bug. We even have medication that records how much is taken and when and prompts the user.Reprogrammable phone decoration has arrived. But that is just a warm up. The key enabling technology - printed electronics - is about to reduce costs by 99%. Consequently, many leading brand owners have recently put multidisciplinary teams ontothe adoption of the new paper thin electronics on their high volume packaging. It will provide a host of consumer benefits and make competition look very tired indeed. This is mainly about modern merchandising - progressing way beyond static print - and dramatically better consumer propositions.

Main Drivers of the Rapid Growth

The rapid growth will be driven by trials now being carried out by leading CPG companies and the rapid technical developments emanating for over 3000 organisations, half of them academic, that are currently working on printed and potentially printed electronics.

The six main factors driving the rapid growth of electronic smart packaging are:

• Ageing population
• Consumers are more demanding
• Consumers are more wealthy
• Changing lifestyles
• Tougher legislation
• And concern about crime and the new terrorism.

There will also be growth from existing applications such as talking pizza boxes, winking logos on multipacks of biscuits and bottles of rum, compliance monitoring blisterpacks in drug trials, prompting plastic bottles of drugs that prompt the user, testers on batteries and reprogrammable decoration on mobile phones. However, IDTechEx's projected adoption only represents a few percent of CPG packages being fitted with these devices in 2022.

The report is vital for those operating in the following roles:

• Chief Executives
• Brand Managers
• Marketing and Business Planning Managers
• Packaging Executives
• Creative brand-facing media staff in fast moving consumer goods companies.

Agency / Source: Market Research Reports

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