Next-Generation Packaging Market: Latest Innovations, Drivers and Industry Key Events size 2028
A recent market intelligence report that is published by Data Insights Partner on the global Next-Generation Packaging Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Next-Generation Packaging Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Next-Generation Packaging Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Next-Generation Packaging Market is offered. In accordance with the report, the global Next-Generation Packaging Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Definition
Next-Generation packaging are advanced packaging solutions. These kinds of packages comprise of features including traceability, product information, and resistant to product damages. These sorts of packages are particularly important for tracing freights over long distances without compromising protection of the content.
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Market Drivers
The thriving pharmaceutical industry is providing the initial impetus to this market. The need for packaging in this market is positively affecting the growth of this market. Soaring population suffering from chronic diseases and the upsurge in the geriatric population is accelerating the need for medical and healthcare services. As a result, the transportation of pharmaceutical drugs and medication has gained momentum which is driving this market.
Technological advancement and its implementation in the innovation of advanced packaging solutions has resulted in bolstering this market. The incorporation of QR Codes, advanced sensors, and sensor enabled RFID is the result of technological employment in this sector. Further, the continuous research and development in the packaging industry coupled with the inclination towards sustainable packaging solutions is fueling the growth of this market.
The food and beverage sector are a significant consumer of next-generation packaging market. This sector initiates the demand for sensors comprising silicon photonics, printed electronics, biotechnology and carbon nanotechnology which is accelerating the growth of the next-generation packaging market. the utilization of sensor-enabled RFID tags would facilitate the nondestructive and remote monitoring of packages.
The development of the e-commerce platforms coupled with increasing penetration of internet has upsurged the online ordering of goods. This has initiated shipments and the need for next-generation packaging solutions.
Market Restraints
The commercialization of the next-generation packaging solutions is subject to numerous norms and directives imposed by various regulatory bodies which is impeding the growth of this market. The demand for antimicrobial packaging solutions is negligent which is negatively affecting this market.
Next-generation packaging solutions are immoderately priced. The reason behind such high prices is the cost involved owing to the incorporation of QR Codes and smart sensors of different variety that enables RFID which is hindering the growth of this market.
Further, the lack of awareness with regard to the benefits of such advanced packaging solutions complementary to the lack of visibility of such packaging solutions are threatening the growth of this market.
Opportunities
The development of the retail sector is driving the demand for active packaging solutions and modified atmosphere packaging solutions which is expected to open up new avenues for the next-generation packaging market.
The implementation of intelligent packaging solutions is gaining momentum especially across the logistics sector for the prevention of counterfeiting and ensuring traceability which is likely to provide lucrative opportunity to this market.
Trends
North America followed by Europe is expected to dominate this market in the forecast period on account of the rising inclination and adoption of sustainable packaging solutions. Asia Pacific region is projected to emerge as the fastest growing region in the forecast period. Latin America is estimated to note growth owing to rapid industrialization in this market. the QR Code segment is also estimated to witness significant growth. The rising demand for packaged foods, convenience foods and ready-to-eat meals are expected to develop this market. Other factors like the adoption of natural antioxidants in the active food packaging solutions is anticipated to escalate the growth of this market. the cosmetics and personal care industry are projected to drive the demand for RFID technology and boost this market. Globally, the next-generation packaging market is projected to grow at a CAGR of 3.7% in the forecast period.
Segment Covered:
This market intelligence report on the global Next-Generation Packaging Market encompasses market segments based on packaging type, application and country.
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By Product Type the global Next-Generation Packaging Market has been divided into:
q Active Packaging
o Gas Emitters
o Gas Scavengers
o Antimicrobials
o Others
q Intelligent Packaging
o Tags
o Indicators
o Sensors
q Modified Atmosphere Packaging
By Application the global Next-Generation Packaging Market has been divided into:
q Logistics and Supply Chain
q Cosmetics and Personal Care
q Health and Pharmaceuticals
q Food and Beverages
q Others
By country/region, the global Next-Generation Packaging Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Sonoco Products Company
q WestRock Company
q Tetra Pak
q Amcor Limited
q Sealed Air Corporation
q Active Packaging Ltd
q Stora Enso OYJ
q Bemis Company
q MULTIVAC Inc
q ULMA Packaging
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Next-Generation Packaging Market related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Sonoco Products Company
In September 2019, the initiation of a brand-new EnviroSense sustainable packaging initiative was announced by Sonoco Products Company.
WestRock Company
In January 2017, Multi Packaging Solutions International was acquired by Westrock Company for USD 2.25 billion with the aim of improving services provided to the personal care and cosmetics industry.
Tetra Pak
In December 2019, the connected packaging platform was launched by Tetra Pak. This provides information to the shoppers with regard to the origin and recyclability of packages. Their packaging innovation transitioned ordinary milk cartons by the incorporation of data management, code generation and digital printing into interactive information channels.
Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Next-Generation Packaging Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Next-Generation Packaging Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Next-Generation Packaging caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Next-Generation Packaging Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Next-Generation Packaging Market
v Identification of key factors driving investment opportunities in the Next-Generation Packaging Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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