Interactive Packaging Market: Market Overview
Interactive packaging is a fascinating new trend amongst packaging brands, designers, manufacturers, and consumers. With the help of interactive packaging strategies, the brand stands out on the shelves and empowers users to interact with their products on an entirely new level. Interactive packaging can create a permanent, lasting dialogue between a product and the customer. It makes brand recall easier for the customer, and the customer retains the brand image for a longer time. Interactive packaging is a new type of packaging and the demand for such packaging is poised to develop in the coming years. Interactive packaging enables physical interaction with the product, by which people become bound to remember it more readily.
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Interactive Packaging Market: Market Dynamics
The use of interactive packaging in taking a product’s branding to the next level is fueling the growth of its market, as interactive packaging makes a physical as well as a visual impact on the consumer. The need for reducing the advertising and sales promotion cost; is fueling the growth of the interactive packaging market as it makes the product advertise itself. The demand for playful packaging of children’s toys, chocolates, and accessories, is fueling the market growth. The need to understand consumer behavior, in which interactive packaging is a cost-effective method; contributes to the growth of its market.
However, the high initial cost involved in interactive packaging is restraining the growth of its market. The use of non-recyclable materials in interactive packaging; increases the carbon footprint and therefore such products cannot attain GMP (Good Manufacturing Practices) and other certifications. Moreover, the comprehensive benefits of the interactive packaging can’t be obtained until the time different kinds of packaging technologies are integrated into one system.
Inclusion of NFC (Near Field Communication) technology and RFID (Radio Frequency Identification) tags in interactive packaging helps in reducing the operational as well as the logistic cost; thus widens the scope of the interactive packaging market. One of the prominent trends in the global interactive packaging market is the usage of BLE (Bluetooth Low Energy) and QR (Quick Response) codes. The application of IoT (Internet of Things) and AI (Artificial Intelligence) in interactive packaging is one of the emerging trends. Various products get connected to their respective applications in the smartphones; briefing customers about usage instructions and product attributes.
Interactive Packaging Market: Market Segmentation
The global interactive packaging market can be segmented by following end-use industries:
- Food & Beverages
It can be segmented by the type of packages:
- Folding boxes
- Posters & Brochures
- POS materials
It can also be segmented by type of interaction of the customer with the package:
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Interactive Packaging Market: Segmentation Overview
Companies such as Koninklijke Philips N.V. are using interactive packaging for their hue lamps; customers can spin the wheel on the side of the package to change the color of the light bulb. Such creative packaging not only entertains the customer but also advertises the product which is inside the package. The interactive packaging by Kissan in the form of a board game on its jam bottle, not only creates the fun but also teaches children the importance of healthy diet. Beverage manufacturing companies are also focusing on creative ways of interactive packaging to spice up the appearance and sales of their bottles. For instance, the Corona beer has come up with an interactive board game; the package of the beer opens up into a game, and bottle caps can be used as game tokens.
Interactive Packaging Market: Regional Outlook
The global interactive packaging market geographically is segmented as North America, Eastern Europe, Western Europe, Latin America, Asia-Pacific excluding Japan, Japan, and Middle East & Africa. North America and Europe hold a significant market share of interactive packaging market owing to the increasing demand for quality and artistic packaging. Furthermore, the increase in R & D activities related to packaging technology, the wherein interactive packaging is useful for versatile purposes, aids in boosting the growth of its market in the region. The market APEJ region is more inclined towards the growing demand for interactive packaging because of the increasing demand for food and beverages.
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Interactive Packaging Market: Prominent Players
Some of the prominent players in the global interactive packaging market are:
- BALL CORPORATION
- Morda & Management Design Limited.
- Printcolor Screen Ltd.
- R.R. Donnelley & Sons Company
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