The global Next Generation Packaging Market is estimated to be valued at US$ 54.84 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Next generation packaging includes packaging solutions that help extend shelf life, monitor quality, improve safety and enhance user experience through digitalization. Innovations in materials and integration of smart technologies enable supply chain visibility and optimize product handling.
Market key trends:
Smart packaging has emerged as a key trend in the next generation packaging market. Packages embedded with sensors allow real-time monitoring of environmental factors like temperature, humidity, light exposure and chemical leaks. This helps trace performance of products across supply chain and feeds data for predictive analytics. Technologies like RFID and QR codes enhance supply chain visibility and provide product authentication. Adoption of smart labels is growing across food, pharmaceutical and consumer goods industries for tackling counterfeits and informing consumers. Advancements in printed electronics and flexible hybrid electronics back new interactive features on packages like displaying product information on bending/touching.
Segment Analysis
The global next generation packaging market is segmented by type into active, ambient, and chilled packaging. Among these, the ambient packaging segment dominates the market. Ambient packaging offers high barrier protection with extended shelf-life for dry foods, snacks, biscuits/cookies, candies, and others without requiring temperature-controlled transportation or storage. This reduces logistical and cold chain infrastructure requirements, thereby lowering overall distribution and storage costs for producers and retailers.
Key Takeaways
Global Next Generation Packaging Market Demand is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing demand for sustainable and eco-friendly packaging solutions featuring extended shelf life and product protection. Regional analysis - Asia Pacific dominates the market and is expected to witness the fastest growth due to the expansion of various end-use industries such as food & beverages and pharmaceutical in countries such as China, India, and Japan. Key players - Key players operating in the next generation packaging 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 Ltd., and ULMA Packaging, S.Coop. The global next generation packaging market size for 2023 is US$ 54.84 Bn. The market is expected to grow steadily during the forecast period owing to rising awareness about waste reduction and sustainable packaging solutions.
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