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Next Generation Packaging Market (Product Type - Modified Atmosphere Packaging, Active Packaging, Intelligent Packaging, and Connected Packaging; End User - Logistics and Supply Chain, Food and Beverages, Healthcare and Pharmaceuticals, Personal Care, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : June, 2021

  • Rep Id : CGP00141

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on next generation packaging market provides in-depth analysis of segments and sub-segments in the global as well as regional next generation packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional next generation packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global next generation packaging market. According to the report, the global next generation packaging market is projected to grow up to USD 45 Billion in 2026 From USD 35 Billion in 2020 with a CAGR of 4.3% over the forecast period of 2020-2026.


Next Generation Packaging Market

 

Market Insight

The packaging industry is growing at a rapid pace. The advent of next-generation packaging materials and technologies has revolutionized the packaging industry. The next-generation packaging technologies include RFID tags, sensor-enabled boxes, sustainable packaging solutions, and others. These materials and technologies provide several benefits such as extended shelf life of the goods, provides traceability of the goods, helps in monitoring the quality of the goods, and provide other valuable insights both to the manufacturer and customer. Next-generation packaging is classified into three sections including active packaging, modified atmosphere packaging, and intelligent packaging. The packaging solutions are now transformed into interactive information channels through data management, digital printing, and code generation. These next-generation packaging solutions provide enhanced value and traceability to the shareholders across the value chain. These next-generation solutions are majorly driven by Industry 4.0 technologies.

 

The demand for next-generation packaging solutions is growing from the pharmaceutical industry. The pharmaceuticals are of delicate nature, they need to be stored and handled with extreme caution. Pharmaceutical goods tend to get affected by changes in temperature. Therefore, atmosphere-controlled packaging is a suitable solution for these types of goods. The connected packaging allows to effectively trace the pharmaceutical goods and provides crucial information such as how and where to dispose of them. Therefore the demand from the pharmaceutical industry is high. Intelligent packaging is also being actively used in food and beverage packaging. This increases their shelf life and durability. 

 

The rapid growth of the E-commerce industry is also majorly driving the market. The packaging and shipping of the goods are done on a large scale in the E-commerce industry. The employment of next-generation packaging solutions leads to better and effective traceability of goods in the E-commerce industry. This allows better handling and delivery of goods and also helps in bringing down the costs. Sustainable packaging is gaining traction around the world. Its awareness is rapidly rising among the manufacturers and consumers. Many countries are adopting laws and regulations to make sustainable packaging mandatory for various industries. Many companies are setting up sustainability goals such as going carbon neutral till 2030. Although the advantages of these next-generation packaging solutions are immense still their cost is high. This high cost discourages the manufacturers from adopting next-generation packaging solutions. Therefore, the cost factor is restraining the market. Nevertheless, the investments in the R&D of packaging technologies are increasing rapidly. This provides new opportunities in the market. 

 

North America is expected to hold the largest share of the market while Asia-Pacific is projected to grow with the fastest rate among the other regions. The pharmaceutical and e-commerce industries are highly advanced in the North America region. Therefore, the adoption of next-generation packaging solutions is high. The companies such as Sonoco Products Company and The WestRock Company are focusing on developing new packaging technologies and solutions. The pharmaceutical and food and beverage industries are rapidly growing in the Asia-Pacific region. The number of local manufacturers providing next-generation packaging is also growing in the region. All these factors propel the growth of the market in the Asia Pacific region.

 

Segment Covered

The report on global next generation packaging market covers segments such as product type, and end user. On the basis of product type, the sub-markets include modified atmosphere packaging, active packaging, intelligent packaging, and connected packaging. On the basis of end user, the sub-markets include logistics and supply chain, food and beverages, healthcare and pharmaceuticals, personal care, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Sonoco Products Company, The WestRock Company, Amcor Limited, Bemis Company Inc., MULTIVAC, Active Packaging Ltd, Sealed Air Corporation, Stora Enso Oyj, ULMA Packaging, and WS Packaging.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of next generation packaging market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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