Smart Syrup Cap Market is rising rapidly as consumers demanding higher-quality products, affordable prices and growing competition within the industries, resulted in some significant changes not only in the ingredients but also in the packaging systems
Albany, NY -- (SBWIRE) -- 07/17/2017 -- Smart Syrup Cap: Market Overview
Packaging in the traditional era was supposed to be the material use to wrap and protect the goods. It was supposed to be the necessity to protect and transport the product without any physical damage to it. With the advent of packaging trends, the packaging is supposed to be the value additions and competitive advantage. Latest trends in the packaging avail the industries to provide modified packaging materials and intelligent systems which can interact with the product and surrounding environment to improve customer satisfaction. Latest technological advancement such as Bluetooth and RFID has facilitated the manufacturers to provide intelligent and smart packaging to the food and pharmaceutical industries. The latest trend in the packaging of the food, beverage and pharmaceutical industries provide smart syrup caps which avail the customers to track the daily usage or doses taken as per prescription.
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Smart caps thus displays some doses taken in last 24 hours and elapsed time since the last dose. Various pharmaceutical and beverage industries started implementing new techniques which facilitate the users to consume the medicines and syrup in a specified format. These smart caps of the syrup bottles collect data about the opening, transmitting and closing time of the cap of the bottle. It thus reminds the patients about the doses and thus reduces the death rate to some extent.
Global Smart Syrup Cap: Market Dynamics
Global smart syrup cap market is majorly driven by the pharmaceutical industries. The factors such as consumers demanding higher-quality products, affordable prices and growing competition within the industries, resulted in some significant changes not only in the ingredients but also in the packaging systems are expected to propel the global smart syrup cap market. It has been observed that majority of the people forget or avoid to have full prescribed course owing to various behavioral trends such as lack of awareness, busy working schedules and lack of seriousness about their health. This smart syrup cap thus reminds them to have timely medical schedule both in household and healthcare sectors. Moreover, the growing consumers' demand for packaged food products, as well as continuous changes in industry caused by globalization, innovations in food packaging have contributed to increasing the development of new packaging systems which is expected to lead the smart syrup cap market during the forecast period 2017-2027.
However, the factors affecting the overall smart syrup cap market are designing aspect of the packaging focusing on the users' safety, fulfilling regulatory requirements, limited budget, and competitive pricing. These factors are expected to stagnant the global market for the smart syrup caps. The major factors affecting the demand for the smart syrup cap is the increasing packaging and R&D cost. Companies, to have the competitive advantage and create brand value, have to invest highly in the research and development which affects the overall profit margin. The restraining factors for the global smart syrup cap market include geographical expansions. Many areas in developing and even in developed countries lack technical knowledge which can affect the overall demand for the market. It thus limits the targeted audience. All these factors are supposed to be the restraining factors for the overall smart syrup cap market.
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Global Smart Syrup Cap: Segmentation
The global smart syrup cap market is segmented by technology used
Near Frequency Communication
Radio Frequency Identification
The global smart syrup cap market is segmented by end-use application
Food and Beverage
Global Smart Syrup Cap: Segment Overview
Global Smart Syrup Cap is segmented by technologies used. Software and cost of production are the two major factors which are to be considered while fixing the marketing price of the product. Near frequency communications, Radio frequency identification (RFID), Bluetooth all can be used in the smart syrup cap market. The RFID enabled smart syrup cap dominates the overall market in the technology segment. It is expected to gain significant market share in the forecast period. Based on the end-use industries, the global smart syrup cap market is expected to gain traction owing to growing demand for the technologically advanced products from the pharmaceutical industries. The pharmaceutical industry in the end use application segment is expected to trigger the overall demand for the smart syrup cap market.
Global Smart Syrup Cap: Regional Overview
Geographically, the global smart syrup cap market is segmented into seven regions including Japan, Middle East and Africa, Asia-Pacific, Eastern and Western Europe, Latin America and North America. Owing to increasing investment in the pharmaceutical and food industries and rapid industrialization, Asia-Pacific market is anticipated to gain traction in the forecast period. Increasing demand for the innovative products facilitates the market to expand its geographical area. Thus Asia Pacific is anticipated to be the potential market for the global smart syrup cap market during 2017-2027. North America and Europe due to more inclination towards innovative packaging systems, market competition and growing demand for the intelligent products from the customers triggers the demand for the smart syrup cap market in the global platform. Thus, global smart syrup cap market is expected to grow with the significant CAGR and show positive outlook in the forecast period.
Global Smart Syrup Cap: Market Players
Some of the prominent players for the global smart syrup cap market includes Information Mediary Corporation (IMC), Cypak.