DIGITAL PRODUCT PASSPORT SOFTWARE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Key Developments

• By January 22, 2024, the European Union planned to make digital product passports mandatory for textile industry by 2030. These passports will provide consumers with access to information regarding a product's climate footprint and sustainability, aiding them in making informed choices. Kappahl a fashion company, is currently involved in a pilot project testing these passports to determine the necessary data collection and presentation methods for customers.
• In January 2024, Circularise a blockchain platform, alongside partners such as the Japan Circular Economy Partnership (J-CEP), AMITA Corporation, and Marubeni Corporation, successfully completed a trial using Blockchain technology to create digital product passports for tracking and verifying the lifecycle of plastic bottle caps. This initiative aims to combat plastic pollution and potentially revolutionize the recycling industry, promoting a shift towards a circular economy.
• In October 2023, Avery Dennison Corporation a manufacturer and distributor of pressure-sensitive adhesive materials, apparel branding labels and tags, RFID inlays, and specialty medical products, introduced a new service called DPP as a Service (DPPaaS) to assist brands in preparing for upcoming European Union legislation on Digital Product Passports (DPPs). Burton Snowboards is the first customer to utilize this service, which offers a comprehensive solution comprising consultation, technology, labeling, and support services to aid brands in DPP readiness.
• In October 2022, iPoint Systems GmbH a provider of software and consulting for environmental and social product compliance, and sustainability, joined the CIRPASS consortium, funded by the European Commission, to contribute to the development of European Digital Product Passports, aiming to establish a unified approach and governance for cross-sector implementation
• In October 2022, Circularise a supply chain transparency software collaborated with LyondellBasell a chemical company, and partners Neste, QCP, Uponor, and Samsonite on a digital product passport prototype. This initiative employs Circularise's traceability software to create a detailed digital record of a product's environmental impact and lifecycle changes, supporting circular economy practices.