Next Generation Packaging Market Size, Share, Growth Report 2030

Next Generation Packaging Market

Next Generation Packaging Market by Type (Active Packaging, Intelligent Packaging, and Modified Atmosphere Packaging), by Application (Food & Beverages, Healthcare and Pharmaceutical, Personal Care, Logistics & Supply Chain, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Category: Packaging Report Format : PDF Pages: 140 Report Code: ZMR-2187 Published Date: Jul-2021 Status : Published

The global next-generation packaging market size was USD 40166.4 Million in 2020 and is expected to reach USD 52321.5 Million by 2028, growing at a CAGR of 3.4% from 2021 to 2028.

Next Generation Packaging Market

Next Generation Packaging Market Size: Overview

The global next-generation packaging market size was USD 40166.4 Million in 2020 and is expected to reach USD 52321.5 Million by 2028, growing at a CAGR of 3.4% from 2021 to 2028.

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The inculcation of technological advancements in packaging materials and techniques has led to the creation of next-generation packaging.  It is an advanced packaging solution that provides a variety of benefits in terms of product quality data and traceability. It assists in product tracking and monitoring throughout the full supply chain process, from shipments to delivery to the destination. Next-generation packaging is a combination of three forms of packaging: active packaging (which comprises antimicrobials, gas scavengers, emitters, and others), intelligent packaging (which includes sensors, indicators, and tags), and modified atmosphere packaging.

The rising demand for efficient packaging of perishable food products, for instance, milk jugs with sensors and sustainable packaging are the primary drivers of this market. Some of the most recent developments in the global next-generation packaging market include R&D of extensive packaging technology, the introduction of improved sensors, and the growing acceptance of QR codes. The advent of smartphones and e-commerce is also expected to present new opportunities for this market.

COVID-19 Impact Analysis

Concerns regarding the cleanliness and safety of reusable packaging temporarily stalled market development toward a more sustainable and circular supply chain. However, increased consumer demand for packaged food and beverage items around the world has fueled the market's growth during the pandemic. With the extension of lockdowns in several countries throughout the world in response to the Covid-19 pandemic, the demand is expected to persist.

Next Generation Packaging Market: Growth Factors

The next-generation packaging industry is being driven by factors such as advancements in packaging materials, an increase in the geriatric population, and a growing requirement for sustainable packaging. A higher need to increase the shelf life of perishable food items is also propelling the growth of this market. Changing lifestyles in emerging economies are generating a demand for quality products with longer shelf lives. Active packaging is carried out in such cases to remove oxygen and create a vacuum to reduce the perishability of the product.

Moreover, the growth of the packaging business is predicted to stimulate the growth of the next-generation packaging market as a result of overall economic development along with increased consumer disposable income, which is boosting demand for consumer goods.

Report Scope:

 

Application Segment Analysis Preview

The food and Beverages segment held a share of around 40% in 2020. This is attributable to the increased need for the prolonged shelf life of packaged food and drinks. Furthermore, technological developments in food packaging techniques are particularly fueling the growth of active packaging and intelligent packaging methods.

Type Segment Analysis Preview

The active Packaging segment will grow at a CAGR of over 3.5% from 2021 to 2028. It is extensively employed in automated packaging lines, sacks, bags, quad packs in industrial packaging, and for packaged food and beverages. This growth can be attributable to the growing adoption of antioxidants in active packaging by companies to extend the shelf life of food products. Moreover, the changing lifestyles of millennials and rising demand for convenience, frozen and ready-to-eat products is also expected to augment this segment.

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Next Generation Packaging Market: Regional Analysis Preview

The North American region held a share of around 33% in 2020. This is attributable to the presence of top companies such as WestRock Company, Sealed Air Corporation, Sonoco Products Company, Bemis Company Inc., and Multivac among others. Moreover, the increasing demand for sustainable packaging in this region is expected to generate huge demand for this market.

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The European region is projected to grow at a CAGR of around 3.1% over the forecast period. The expanding global export of automobiles in the region is likely to generate attractive opportunities for the next-generation packaging market. As per the European Automobile Manufacturers' Association, the European Union exported 6.1 million motor vehicles in 2018, worth US$ 156.32 billion. The growing popularity of sustainable packaging and the export of automobiles is expected to boost the market growth in this region.

Next Generation Packaging Market: Key Players & Competitive Landscape

Some of the key players in the automated sortation system market are WestRock Company, Amcor Limited, Sealed Air Corporation, Sonoco Products Company, Stora Enso Oyj, MULTIVAC, Bemis Company Inc., WS Packaging Group Inc., Ulma Packaging and Active Packaging Ltd. among others. 

Key players are focusing on coming up with sustainable techniques of packaging. For instance, Amcor Limited in April 2019, launched AmLite Ultra Recyclable, its first packaging product made from a more sustainable high-barrier polyolefin film. The new high-barrier laminate can package a range of food, home, and personal care, and pharmaceutical products

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The global next-generation packaging market is segmented as follows:

By Type

  • Active Packaging
  • Intelligent Packaging
  • Modified Atmosphere Packaging

By Application

  • Food & Beverages
  • Healthcare & Pharmaceutical
  • Personal Care
  • Logistics & Supply Chain
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The global next generation packaging market size was valued at USD 40166.4 Million in 2020.

The global next generation packaging market size is expected to reach USD 52321.5 Million by 2028, growing at a CAGR of 3.4% between 2021 to 2028.

Some of the key factors driving the global next generation packaging market growth advancements in packaging materials, increase in geriatric population, and a growing requirement for a sustainable packaging and prolonged shelf life of packaged food and beverages.

North America region held a substantial share of the next generation packaging market in 2020. This is attributable to the presence of major players such as WestRock Company, Sealed Air Corporation, Sonoco Products Company, Bemis Company Inc., and Multivac among others. Europe region is projected to grow at a significant rate owing to the rising demand for next generation packaging in countries such as Germany and France.

Some of the major companies operating in the next generation packaging market are WestRock Company, Amcor Limited, Sealed Air Corporation, Sonoco Products Company, Stora Enso Oyj, MULTIVAC, Bemis Company Inc., WS Packaging Group Inc., Ulma Packaging and Active Packaging Ltd. among others.
 

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