North America Next Generation Packaging Market – Industry Trends and Forecast to 2029

Next Generation Packaging Market Analysis and Size

Next-generation packaging has seen increased demand because they are light in weight and have shown the ability to provide products to locations with minimum damage. Some end-use industries that have deployed next-generation packaging are healthcare, pharmaceuticals, food and beverages, and logistics. The 'active packaging" is the fastest growing type segment during the forecast period because of its ability to extend the product's shelf life and maintain freshness.

Data Bridge Market Research analyses that the next generation packaging market was valued at USD 2,173.62 million in 2021 and is expected to reach USD 3,570.40 million by 2029, registering a CAGR of 6.40% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Next Generation Packaging Market Scope and Segmentation

Market Definition

Next generation packaging is  advanced method of packaging technology. It is a combination of three types of packaging, specifically active packaging, which includes emitters, antimicrobials, gas scavengers and others. Intelligent packaging includes indicators, sensors, and tags, and modified atmosphere packaging.

Next Generation Packaging Market Dynamics

Drivers

• High usage of active packaging

Active packaging is a new term in the packaging industry which has been developing over the past few years. It refers to a range of methods involving products or materials that improve or add value to the material and product being packed. The major driver for this trend is growing consumer demand for green, sustainable and ethical products along with an increasing focus on functionality and convenience in the Active Packaging Market (APM) which eventually drive the next generation packaging market.

• Increasing demand of next generation packaging in personal care application

The personal care application segment is expected to witness significant growth during the forecast period. The rising demand for next generation packaging in cosmetic and personal care sector due to increasing consumer awareness regarding health issues associated with cosmetic products containing harmful chemicals such as phthalates and parabens. These factors will likely drive product adoption across this sector in the forecast period.

Moreover, increasing demand for next-generation packaging in private and public healthcare industries, raising health awareness among the population, and continuous technological advancements in packaging are other major factors anticipated to boost the growth of the next-generation packaging market.

Opportunities

• Increasing e-commerce and retail sector

Rapidly rising e-commerce and retail industries increase the demand of better packaging products in market. So the end of line packaging enhances the efficiency of packaging, which is the key factor in creating profitable opportunities for market growth.

• Rise the demand in food industry

Growing demand in food and beverage manufacturing company is anticipated to offer lucrative growth opportunities to the market of next generation packaging during forecast period. In the food industry, the next generation packaging helps to reduce material usage by 70%, extend shelf life, display information on quality, monitor freshness, improve safety, and improve the convenience of the food products. This is estimated to create immense opportunities and increase the market growth of the next generation packaging during upcoming years.

Restraints/ Challenges

Ensuring the automation performance aligns according to the customer demand is predicted to be a major challenge and is anticipated to obstruct the market growth. Changing consumer preferences for cost-effective and quality products have been considerably augmented in the last years. Hence, ensuring the automation performance aligns in the production could be a major challenge for the next generation packaging market over the forecast period.

This next generation packaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the next generation packaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Next Generation Packaging Market

COVID-19 is a global public health emergency which has affected almost every sector and this long-term effect is expected to impact the industry's growth during the forecast period. But, the Next generation packaging has positively impacted their market growth during and post COVID-19 period. The growing consumption of packaged food and beverages is especially driving the next generation packaging market growth, although factors such as fluctuating price of raw material prices may obstruct the market growth during pandemic.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent development

• In April 2021, DuPont announced that it completed its acquisition with Laird Performance Materials, a world leader in thermal management solutions and high-performance electromagnetic shielding.

North America Next Generation Packaging Market Scope

The next generation packaging market is segmented on the basis of type, function, technology, material and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Active Packaging
• Intelligent Packaging
• Modified Atmosphere Packaging

 Function

• Moisture Control
• Temperature Indicators
• Shelf Life Sensing
• Product Tracking
• Others

 Technology

• Scavengers and Susceptors RFID Tags
• QR Codes
• NFC Tags
• Coding & Markings
• Sensors & Output Devices
• Others

 Material

• Plastic
• Paper
• Corrugated Board
• Others

Application

• Food and Beverages
• Personal Care
• Healthcare
• Logistics & Supply Chain
• Consumer Electronics
• Others

Next Generation Packaging Market Regional Analysis/Insights

The next generation packaging market is analysed and market size insights and trends are provided by country, of type, function, technology, material and application as referenced above.

The countries covered in the next generation packaging market report are U.S., Canada and Mexico in North America.

The U.S. is anticipated to dominate the North America next generation packaging market owing to increasing application of the next generation packaging market in the food and beverage industry. Increasing demand for active packaging to store food products in nations such as Canada and the U.S  is likely to help North America witness significant growth in the next generation packaging market, in upcoming years.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Next Generation Packaging Market Share Analysis

The 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, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to next generation packaging market.

Some of the major players operating in the next generation packaging market are:

• Amcor plc (Australia)
• Sealed Air (U.S.)
• Klöckner Pentaplast (Germany)
• MicrobeGuard Corporation (U.S.)
• TOPPAN INC. (Japan)
• BALL CORPORATION (U.S.)
• DuPont de Nemours, Inc. (U.S.)
• R.R. Donnelley & Sons Company (U.S.)
• Vesta (U.S.)
• Amerplast (Finland)
• MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan)
• Graham Packaging Company (U.S.)
• Active Packaging (India)
• American Thermal Instruments (U.S.)
• AVERY DENNISON CORPORATION (U.S.)
• Temptime Corporation (U.S.)
• WestRock Company (U.S.)
• Sonoco Products Company (U.S.)
• Bemis Manufacturing Company (U.S.)

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