Abstract
The global market for smart packaging is expected to reach $26.7bn by 2024. Smart packaging refers to packaging systems with embedded sensor technology used with foods, pharmaceuticals, and many other types of products. It is used to extend shelf life, monitor freshness, display information on quality, and improve product and customer safety. In addition, smart packaging offers new business opportunities based on digitization and thus fits into the broader realm of Industry 4.0. In this paper, the authors provide an introductory overview of smart packaging and discuss its underlying base technologies. This is followed by a presentation of potential benefits and emerging opportunities in the packaging sector, contrasted by a number of challenges that first have to be overcome for smart packaging to reach its full potential. Finally, conclusions are drawn and an outlook towards the future, critical research areas to work in, and potential lessons to be learned from associated areas are presented.
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