Next Generation Packaging Market

Next Generation Packaging Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Next Generation Packaging Market was worth US$ 27.4 Bn and is expected to grow at a CAGR of 6.0% over the forecast period. The market is expected to hit US$ 43.7 Bn by 2030 end.

The worldwide packaging market is expanding rapidly due to increased population, technological improvements, and rising consumer expectations for product packaging.

Next-generation packaging is a type of sophisticated packaging technology. Next-generation packaging delivers advanced features such as traceability, product shelf life extension, product quality information, etc.

Market Dynamic

THE GROWING NEED FOR SUSTAINABLE PACKAGING DRIVES THE MARKET GROWTH

Consumer need for effective product packaging has fueled the expansion of the next-generation packaging industry worldwide. Packaging material advancements and the growing demand for sustainable packaging strategies have fueled the market’s growth. Extensive packaging technology research and development, the introduction of improved sensors, and the expanding acceptance of QR codes are some of the most recent products in the next-generation packaging industry worldwide.

Next-generation packaging is used in various end-use applications, including health care and pharmaceuticals, food and drinks, logistics and supply chain, personal care, and others, such as automotive and industry.

RESEARCH & DEVELOPMENTS ACTIVITIES CREATE OPPORTUNITIES FOR THE MARKET

Growing R&D spending by large firms, aided by favorable government policies, is likely to offer considerable growth prospects. The need for next-generation packaging is growing throughout emerging countries as customers’ lifestyles change, producing a demand for higher-quality products with a longer shelf life, likely fueling market expansion for next-generation packaging.

STRINGENT GOVERNMENTAL REGULATIONS HAMPER THE MARKET GROWTH

The worldwide next-generation packaging industry is predicted to expand slowly due to a lack of awareness and the high cost of next-generation packaging materials. The cost of packing materials is critical in the logistics and supply chain industries. As a result, this sector’s need for innovative packaging materials is modest. The market will be restrained by the limited commercial uses of some types of next-generation packaging.

COVID-19 Impact

The Covid-19 outbreak did put a halt to the next-generation packaging industry in the automotive industry. However, the healthcare and food industries continued to thrive and are anticipated to maintain their winning streaks throughout the projection period. It might be attributed to increased public awareness of the significance of hygiene, particularly in the post-Covid period.

With smart devices incorporated, the next-generation packaging industry will likely have a positive upscaling throughout the forecast period.

Market Segments Covered in Report

By Packaging Type:

• Active Packaging
  • Antimicrobials
  • Gas Scavengers
  • Gas Emitters
  • Others (Moisture & Corrosion Control)
• Intelligent Packaging
  • Sensors
  • Indicators
  • Tags
• Modified Atmosphere Packaging

By Application:

• Food & Beverages
• Healthcare & Pharmaceuticals
• Personal Care
• Logistics & Supply Chain
• Others (Automotive & Industrial)

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which packaging type, Next Generation Packaging, is projected to dominate the market share?

Active packaging now accounts for more than 36.5% of the worldwide next-generation packaging market and is likely to maintain its dominance during the forecast period.

Which application segment is expected to dominate the market during the forecast period?

The food and beverage applications category dominates the next-generation packaging market and is predicted to maintain its market dominance until 2030. Next-generation packaging is in high demand in the food and beverage sector to extend the shelf life of perishable food goods.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• North America is expected to lead the industry, with a 0% market share by the end of 2030.
• Latin American emerging economies are rapidly industrializing and are expected to contribute considerably to the growth of the global next-generation packaging market.
• As major manufacturers focus on producing food and beverage items with next-generation packaging, Asia-Pacific is predicted to expand fastest from 2022 to 2030.

Competition Analysis

To increase their market share, several corporations are adopting strategic moves such as creating alliances with research centers to offer new goods.

Some of the key developments that have taken place in the Next Generation Packaging Market include:

• In January 2018, Henkel and Selinko, the all-in-one Internet of Things (IoT) solution provider, announced a collaboration agreement to expand and improve smart and interactive packaging solutions, especially focusing on FMCG markets. Thus, such partnership and agreement among providers will favor the market growth of the next-generation packaging.
• In April 2019, Amcor introduced AmLite Ultra Recyclable, the company’s first packaging product manufactured from its more sustainable high-barrier polyolefin film. The new high-barrier laminate may be used to package a variety of culinary, household, personal care, and pharmaceutical items.

A list of some of the key suppliers present in the market are:

• 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
• Coop

Global Next Generation Packaging Market 2022-2030: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies