Smart Tag Packaging Overview
Smart Tag Packaging is also known intelligent packaging, interactive packaging or active packaging. A smart tag has an advantage of having the wide range of application over traditional bar codes. Smart tag is to draw the attention of consumers or provide authentication or additional information on the product; Smart packaging brings many benefits to consumer whether, it is product description, MRP, bar code and expiry date.
Market Size and Forecast
The global smart tag packaging market is expected to showcase a significant CAGR of 4.6% during the forecasted period 2018-2027. Smart tag plays an important role in supply chain management by enabling the manufacturers and suppliers to keep track of logistics and optimally maintain the inventory level. The global smart tag packaging market is segmented into type, verticals and geography. In terms of regional platform, Europe region is believed to dominate the global smart tag packaging market aided by Western Europe countries such as U.K., France, Netherland and others.
Additionally, the United States is amidst the major countries augmenting the demand for smart tag packaging on account of rising prevalence of advancement in technology in the the consumer good industry. In terms of growth rate, Asia Pacific region is expected to witness the fastest growth with a CAGR of 6.9%. Asia Pacific accounted for the third largest market of smart tag packaging in terms of revenue in 2017. Moreover, the major countries witnessing the splurging demand for smart tag packaging include Japan and China.
Our in-depth analysis segmented the global smart tag packaging market in the following segments:
Global smart tag packaging market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Online transaction is expected to increase while positively influencing the smart tag packaging market. Changing consumer lifestyle and increasing installation of modern retail outlets have boosted the growth in smart tag packaging market. Further, Smart packaging can change the way retailers, brand owners and consumers interact with products by communicating, engaging customers, managing inventory systems and much more. Rising consumer awareness about the packaging of consumer goods and electronic goods is anticipated to positively impact the growth of smart tag packaging market.Contrariwise, high cost of smart packaging tag is expected to hamper the growth of smart packaging tag market. Further, lack of standards and unawareness about the product is restraining the growth of the market.
Scope and Context
Overview of the Parent Market
The global smart tag packaging market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
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