The transition to the circular economy drives the digital transformation of packaging

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The packaging industry is still recovering from the impact of the COVID-19 pandemic, as well as the paradigm shift towards online shopping, stricter regulatory standards for packaging waste and growing demand from consumers for sustainable packaging solutions. Packaging suppliers are under considerable pressure to provide alternative and environmentally friendly packaging solutions from manufacturers, retailers and consumers themselves, driving the transition to a circular economy, says GlobalData.

“Packaging companies are adopting smart and sustainable packaging solutions to minimize their carbon footprint,” says Manish Dixit, practice lead at GlobalData. “Notably, seven deals among the top 10 investment deals in Q2 2022 fall under the ‘sustainability and ethics’ theme, reflecting global investor interest. Even global consumer brands like Cola-Cola, PepsiCo, Unilever, Danone and Nestlé have committed to providing 100% recycled plastic in their packaging and have introduced reusable or recyclable packaging.

“Regulators and non-governmental institutions are encouraging the packaging industry‘s shift to a circular economy to maximize efficiency and minimize resource waste,” says Prathyusha Paruchuri, senior disruptive technology analyst at GlobalData. “With the importance of sustainability to the packaging industry becoming explicit, many packaging companies are regenerating by design and improving their buy-build and partner strategy in the circular economy space to avoid falling behind their peers, competitors and customers.”

GlobalData’s latest report, “Digital Innovation Case Studies in Packaging,” highlights the implementation of emerging technologies with real-world use cases and assesses the return on investment.

LivingPackets creates a sustainable packaging solution

LivingPackets, which provides eco-friendly packaging solutions for e-commerce deliveries, collaborated with NXP Semiconductors to develop and launch sustainable IoT-based “THE BOX” to ship waste-free packages with visibility of end-to-end of a package’s journey through the supply chain.

Dell is developing a solution to track and trace recycled plastic

Dell intended to create a circular economy to keep plastics out of the ocean by recycling and reusing them in its supply chain. So it partnered with VMware, a virtualization software provider, and deployed blockchain technology to help product end users view the history of recycled materials and ensure the long-term sustainability of its supply chain. ‘supply.

Harpak-ULMA presents smart packaging solutions

Harpak-ULMA, a packaging equipment manufacturer, along with Rockwell Automation, a digital transformation and industrial automation provider, have used IoT and augmented reality for smart packaging solutions. These digital solutions are integrated with real-time analytics to improve operational efficiency and increase employee productivity.

“Sustainability has become so vital that plastic packaging companies are struggling to access capital as investors tighten their policies on unsustainable packaging,” says Paruchuri. “End-to-end technology adoption by packaging companies in their supply chain results in operational improvements, supplier reliability and customer engagement. Global suppliers are accelerating innovations such as the development of advanced materials, technology-integrated products and customized solutions to promote reusable, biodegradable and sustainable packaging.”

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