Global Next Generation Packaging Market, By Type (Active Packaging, Intelligent Packaging and Modified Atmosphere Packaging), Function (Moisture Control, Temperature Indicators, Shelf Life Sensing, Product Tracking, and Others), Technology (Scavengers and Susceptors RFID Tags, QR Codes, NFC Tags, Coding & Markings, Sensors & Output Devices, and Others), Material (Plastic, Paper, Corrugated Board and Others), Application (Food, Beverages, Personal Care, Healthcare, Logistics & Supply Chain, Consumer Electronics and Others), Country (U.S., Canada, Mexico, Germany, UK, Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands, Luxemburg and rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and rest of Asia-pacific, Brazil, Argentina and Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel and Rest of Middle East and Africa) Industry Trends and Forecast To 2029
Market Analysis and Insights: Global Next Generation Packaging Market
Global next generation packaging market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing with a CAGR of 6.5% in the forecast period of 2022 to 2029 and is expected to reach USD 11,209.94 million by 2029.
Growing demand for intelligent packaging to avoid food wastage is accelerating the use of next generation packaging products, which is expected to drive the market growth. However, high costs associated with research and development activities are expected to restrain the growth of the market. The recent trend indicates increasing demand for next generation packaging as investments in public and private food industries continue to increase. The factors driving the growth of the market are increasing health awareness among the general population and continuous technological advancements in packaging. With the rapid growth of globalization and increase in mandates for food and beverages by various countries and regions, the global next generation packaging market will witness an increased trajectory in the coming years. However, the high cost of packaging in the global next generation packaging will restrict the market growth.
Various companies are making strategic decisions, such as forming agreements with research facilities to launch new products, to improve their market share. As a result, the next-generation packaging market is growing at a rapid rate. On the other hand, recent innovations and new product launches are creating new opportunities for the market. However, easy availability of alternative products is acting as a challenge for the global next generation packaging market.
The global next generation packaging market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Global Next Generation Packaging Market Scope and Market Size
Global next generation packaging market is segmented into five segments based on type, function, technology, material, and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the global next generation packaging market is segmented into active packaging, intelligent packaging, and modified atmosphere packaging. In 2022, the active packaging segment is expected to dominate the market due to high production quantity and ease to use nature of active packaging.
- On the basis of function, the global next generation packaging market is segmented into moisture control, temperature indicators, shelf life sensing, product tracking, and others. In 2022, moisture control segment is expected to dominate the market as it is the most demanded packaging function to extend the shelf life of the product.
- On the basis of technology, the global next generation packaging market is segmented into scavengers and susceptors, RFID tags, QR codes, NFC tags, coding & markings, sensors & output devices, and others. In 2022, the scavengers and susceptors segment is expected to dominate the market as it gives an easy access to the product to consumers.
- On the basis of material, the global next generation packaging market is segmented into plastic, paper, corrugated board, and others. In 2022, the plastic segment is expected to dominate the market due to consumers showcasing keen interest in the size of the product’s packaging due to its affordability.
- On the basis of application, the global next generation packaging market is segmented into food, beverages, personal care, healthcare, logistics & supply chain, consumer electronics, and others. In 2022, the food segment is expected to dominate the market as the demand for packed food is increasing all over the world owing to busy lifestyles.
Global next generation packaging market is fragmented and the major players have used various strategies, such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others, to increase their footprints in the market.
North America by country is segmented into U.S., Canada and Mexico. In 2022, U.S. is domination the North America next generation packaging market, due to growing application of this market in food and beverage industry.
Next Generation Packaging Market Country Level Analysis
Global next generation packaging market is analysed and market size information is provided based on type, function, technology, material, and application.
Asia-Pacific is expected to grow with the most promising growth rate in the forecast period of 2022 to 2029 as major industrialists are focusing on developing food and beverages products consisting next generation packaging.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
The U.S. has dominated the market in North America owing to the increased demand for active packaging in food applications.
Increased awareness about food safety and quality has increased demand for next generation packaging in Germany.
Increasing risk of foodborne diseases has increased the food safety in China, which in turn gas helped the packaging market to grow in the country.
Rising Demand for Next Generation Packaging
Global next generation packaging market also provides you with detailed market analysis for every country growth in industry with sales, components sales, and impact of technological development in next generation packaging and changes in regulatory scenarios with their support for the market. The data is available for historic period 2019 to 2029.
Competitive Landscape and Next Generation Packaging Market Share Analysis
Global next generation packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the companies’ focus related to the global next generation packaging market.
Some of the major players operating in the global next generation packaging market are Amcor plc, Sealed Air, Klöckner Pentaplast, MicrobeGuard Corporation, TOPPAN INC., BALL CORPORATION, DuPont de Nemours, Inc., R.R. Donnelley & Sons Company, Vesta, Amerplast Ltd., MITSUBISHI GAS CHEMICAL, Graham Packaging Company, Active Packaging, American Thermal Instruments, AVERY DENNISON CORPORATION, Temptime Corporation, Cortec Packaging, and SAES Getters S.p.A. among others.
Various product developments are also initiated by the companies worldwide, which are also accelerating the growth of the next generation packaging market.
For instance,
- In 2017, DuPont launched new Tyvek 40L in China, plans for global availability DuPont Protection Solutions for the introduction of DuPont Tyvek 40L medical packaging, a new class of Tyvek for medical packaging applications that provide a cost-effective option for protecting lightweight, low-risk devices
Partnership, joint ventures, and other strategies enhance the company market share with increased coverage and presence. It also benefits organizations to improve their offering for next generation packaging through expanded range of size.
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