Future Market Insights (FMI) hosted a talk show, with thought leaders from the Packaging Industry on ‘The Rise of Intelligent Packaging‘ on November 18th 2021. Speakers were Ismail Sutaria, Packaging Consultant, Future Market Insights; Ken Chrisman, President of Beverages, Graham Packaging and Robert Lilienfeld, Executive Director at SPRING, The Sustainable Packaging Research, Information and Networking Group. The panel was moderated by Aditi Basu, Chief of Marketing at Future Market Insights. The talk show received an overwhelming response, attended by a wide cohort of Packaging industry leaders, technology providers, executives from Food & Beverage, Consumer Products, Healthcare & Chemical industries.
Why the need for such a talk show?
As concerns over resource wastage mount, key industries are looking to leverage packaging solutions which seek to offset this. Today, around US$ 32 Bn of pharmaceutical drugs are discarded owing to expiry because of improper packaging under ambient temperatures. Likewise, billions of dollars are lost to food wastage.
The purpose of this talk show was to understand how aforementioned trends have played a role in designing intelligent packaging solutions, capable of monitoring the state of a product throughout the supply chain, and communicate the same to the consumer.
Key Highlights from the Talk Show
- Sneak peek into the latest research publication ‘Intelligent Packaging Market 2021-31′ by FMI – Ismail Sutaria, Packaging Consultant at FMI
- Intelligent Packaging expected to reach US$ 46.7 Bn, expanding at 9% CAGR from 2021-2031, millennials and Gen-Z emerge as front runners in adoption of Intelligent Packaging
- Product monitoring and improving shelf life remain key growth drivers for Intelligent Packaging
- 35% of bags & pouches forecast to experience adoption of Intelligent Packaging
- ~60% of Intelligent Packaging manufacturing to be outsourced
- Ken Chrisman, President Beverages at Graham Packaging shares success stories from his organization
- Graham’s PET Can design offers an alternative to aluminum and was shown to be preferred by consumers according to focus group results.
- Active Base Technology can lead to bottles that are at least 20% lighter, while uncompromising professional bottle feel
- He also elaborated on Graham’s involvement with the HolyGrail 2.0 Project by Ellen MacArthur Foundation, aiming to prove digital watermarking viability technologies for accurate sorting
- Robert Lilienfeld, Exec Director at SPRING shares best practices on Sustainable Intelligent Packaging
- Intelligent Packaging transcends beyond recyclability and waste reduction
- The overall objective is to reduce CO2 emissions at a pan-global level
- Intelligent Packaging will be truly intelligent when it also communicates with the refrigerator or the device it is stored in
- Identify where food wastage originates. For instance, in the U.S and northern Europe, waste takes place from the fridge to fork
- In lesser developed countries, wastage occurs during distribution, farming and collection
“A sustainable package is one that delivers full value of the product contained within it, doing so with the least amount of negative economic, environmental and social impact, throughout the product lifecycle,” remarks Robert Lilienfeld. This is definitely worth thinking about, reaffirming FMIs projection that intelligent packaging will soon become mainstream!
FMI looks forward to host more such events in the future.