The global market for next-generation packaging would experience explosive growth between 2022 and 2032, with a CAGR of 6.1%, reaching US$ 49.3 Bn. Globally, the packaging market is expanding quickly as a result of population increase, technological improvements, and rising customer expectations for product packaging.
A cutting-edge packaging technology is next generation packaging. It is a combination of three different packaging types: modified atmosphere packaging, intelligent packaging, and active packaging (which includes antimicrobials, gas scavengers, emitters, and other things). The advanced benefits of next-generation packaging include traceability, extended product shelf life, information on product quality, etc.
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Next Generation Packaging Demand Analysis (2015 to 2021) Vs Market Outlook (2022 to 2032)
The global next generation packaging market is anticipated to grow significantly during the forecast period, mainly due to growing geriatric population, advancements in packaging material, and rising need for a sustainable packaging technique.
Moreover, the trend that follows with the growth of the next generation packaging market includes increasing research and development spending on packaging technology, growing adoption of QR codes on packaging, and development of advanced sensors.
Growth of the global next generation packaging market is mainly driven by increasing aging population, overall advances in packaging materials and rising need of sustainable packaging. Moreover, trends that are driving the growth of the next generation packaging market are increasing research and development spending on packaging technology, growing adoption of Quick Response (QR) codes on packaging and development of advanced sensors.
This report covers trends that are driving the growth of each segment and respective sub-segments and offers analysis and insights on the potential of the next generation packaging market in specific regions. North America is expected to dominate the next generation packaging market, accounting for over 36% share of the overall market by the end of 2015, and is anticipated to remain dominant till the end of 2025. Western Europe is expected to be the second largest market, accounting for over 20% of market share by the end of 2015.
APEJ and Japan, collectively, are expected to account for over 26% share of the total next generation packaging market by the end of 2015. Among all the regions, Latin America is anticipated to expand at the highest CAGR from 2015 to 2025, followed by the Middle East & Africa, due to increasing investment and economic development in these regions.
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Competitive Landscape
Major participants such as Amcor Limited and Sonoco Products Company are focusing more on business expansion in emerging regions in order to enhance their global presence. In addition, these key players are emphasizing on expanding their packaging product portfolio through acquisitions and mergers. MeadWestVaco Corporation and Rock-Tenn Co. have their joint venture company – WestRock Company. Stora Enso Oyj has been developing intelligent packaging solutions with NXP Semiconductors. This development was intended to primarily focus on integration of RFID technology into packaging in order to enhance consumer engagement and improve supply chain efficiency. It has been running successfully since the year 2016.
Key Companies Profiled
- Amcor Limited
- WestRock Company
- Sonoco Products Company
- Sealed Air Corporation
- Stora Enso Oyj
- Bemis Company, Inc.
- MULTIVAC
- WS Packaging Group, Inc.
- Active Packaging Limited
- ULMA Packaging
- S.Coop
Key Segments Covered in Next Generation Packaging Industry Research
Next Generation Packaging Market by Packaging Type:
- Active Packaging
- Antimicrobials
- Gas Scavengers
- Gas Emitters
- Others (Moisture & Corrosion Control)
- Intelligent Packaging
- Sensors
- Indicators
- Tags
- Modified Atmosphere Packaging
Next Generation Packaging Market by Application:
- Food & Beverages
- Healthcare & Pharmaceuticals
- Personal Care
- Logistics & Supply Chain
- Others (Automotive & Industrial)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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Related Reports :
Intelligent Packaging Market: The overall market is expected to reach US$ 46.7 Bn by 2031, expanding at a CAGR of 9.0% for 2021-31
Controlled Intelligent Packaging Market : Controlled intelligent packaging includes packaging systems that combine intelligence with advanced sensors, detection, recording, and communication capabilities
Active, Smart and Intelligent Packaging Market: The Global Active, Smart and Intelligent Packaging Market is estimated at US$ 27.1 Bn in 2022 and is projected to reach US$ 43.3 Bn by 2027
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