The global next-generation packaging market would witness a leap of growth at a CAGR of 6.1% between 2022 and 2032, reaching US$ 49.3 Billion between 2022 and 2032.
The use of creative and eco-friendly packaging strategies that boost product safety, convenience, and waste reduction is referred to as the next generation packaging market. Consumer demand for environmentally friendly packaging options is rising, and there is a demand for packaging options that are more effective and affordable.
For More Insights on this Market, Get A Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-709
Biodegradable plastics, smart packaging, active packaging, and reusable packaging are just a few examples of the numerous packaging materials and technologies that make up the future generation packaging market. Biodegradable plastics may naturally disintegrate and are composed of renewable resources, which helps to lessen environmental pollution. Sensors, indicators, and tracking systems are examples of characteristics found in smart packaging that serve to monitor the products’ quality and safety. By regulating the environment inside the package, active packaging is intended to extend the shelf life of the products. Reusable packaging can be repurposed, resulting in less waste being produced.
The next generation packaging market can be segmented based on the type of packaging material, product type, and region. The most commonly used materials for next-generation packaging include bioplastics, paper, metal, and glass. Product types that are commonly packaged using next-generation packaging include food and beverage, pharmaceuticals, and personal care products.
Are you looking for customized information related to the latest trends, drivers, and challenges? @ https://www.futuremarketinsights.com/customization-available/rep-gb-709
Geographically, the next-generation packaging market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Europe is the largest market for next-generation packaging due to the stringent regulations on packaging waste and the high consumer demand for sustainable packaging options. North America and Asia Pacific are also significant markets due to the increasing consumer awareness of the environmental impact of packaging waste.
In conclusion, the next generation packaging market is driven by the increasing consumer demand for sustainable and innovative packaging solutions. The market is highly competitive, with several players vying for market share. However, companies that invest in research and development and offer innovative solutions are likely to succeed in this market.
Competitive Landscape
Major participants such as Amcor Limited and Sonoco Products Company are focusing more on business expansion in emerging regions in order to enhance their global presence. In addition, these key players are emphasizing on expanding their packaging product portfolio through acquisitions and mergers. MeadWestVaco Corporation and Rock-Tenn Co. have their joint venture company – WestRock Company. Stora Enso Oyj has been developing intelligent packaging solutions with NXP Semiconductors. This development was intended to primarily focus on integration of RFID technology into packaging in order to enhance consumer engagement and improve supply chain efficiency. It has been running successfully since the year 2016.
Get 20% Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-709
Key Players:
- Amcor Limited
- WestRock Company
- Sonoco Products Company
- Sealed Air Corporation
- Stora Enso Oyj
- Bemis Company, Inc.
- MULTIVAC
Key Segments Covered in Next Generation Packaging Industry Research
Next Generation Packaging Market by Packaging Type:
- Active Packaging
- Antimicrobials
- Gas Scavengers
- Gas Emitters
- Others (Moisture & Corrosion Control)
- Intelligent Packaging
- Sensors
- Indicators
- Tags
- Modified Atmosphere Packaging
Next Generation Packaging Market by Application:
- Food & Beverages
- Healthcare & Pharmaceuticals
- Personal Care
- Logistics & Supply Chain
- Others (Automotive & Industrial)
Next Generation Packaging Market by Region:
- North America Next Generation Packaging Market
- Latin America Next Generation Packaging Market
- Europe Next Generation Packaging Market
- East Asia Next Generation Packaging Market
- South Asia Next Generation Packaging Market
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com