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Uflex ltd. is one of the leading packaging entities widely known for its quality standards. The company has established benchmarks of quality and excellence in the packaging industry providing state-of-the-art packaging solutions. Growing at a CAGR of 7%, the smart packaging market is expected to reach $39 billion by the year 2020. Smart packaging plays a crucial role in shaping the customer’s buying behavior and has a major impact on brand equity. Uflex points out that smart packaging is crucial for enhancing and expanding the reach of a brand. It ensures complete safety, enhanced functionality, superior aesthetics, complete value for money and convenience. The company states that smart packaging is an added advantage to the brand owner as it enhances customer interface. Tech Savvy customers use newer forms of media or technology platforms and those brands who engage on these platforms undoubtedly stand a higher chance of staying relevant in consumer’s life.
Smart Packaging enhances the information which makes it complete and ‘Intelligent Packaging’. It helps the customer to make informed purchase decisions as the complete information is provided by the smart codes embedded onto the package. It extends the shelf life of the product as an intelligent package calibrates itself in accordance with the ambience outside and inside the package. For instance color changing plastics can detect food spoilage and communicate the same to the retailers and consumers. Time Temperature Indicator Plastics are a big boon to detect loss of quality of the products packed. Food labels that communicate the packaged product’s state of freshness are getting picked up faster from the shelves. Smart packaging also ensures more sustainable package solutions as it helps to reduce the impact of packaging on the environment.