As consumer expectations for product quality and origin transparency continue to rise, innovative packaging technologies are playing a pivotal role in driving the growth of the next generation packaging market.
These advanced solutions enable detailed tracking and monitoring throughout the supply chain, addressing consumers’ concerns regarding product traceability. From smart labels to RFID tags and blockchain integration, these technologies provide real-time visibility and authentication, enhancing trust and confidence among consumers. As a result, businesses are increasingly investing in these innovative packaging solutions to meet evolving consumer demands and gain a competitive edge in the market.
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The relentless pace of technological advancement is driving the production of small electronic devices across diverse industry verticals, ranging from consumer electronics and healthcare to automotive and semiconductor IC manufacturing. This trend is fueled by the growing demand for precise patterning on wafers and chips, leading to the relentless miniaturization of integrated circuits.
Key Takeaways:
- The market valuation in 2022 was US$ 12,800.3
- Based on packaging type, active packaging is expected to dominate at a market share of 43.6% by 2033.
- Based on application, food & beverage will register at a market share of 41.5% by 2033.
- The next-generation packaging market size expanded at 2.76% CAGR between 2018 and 2022.
- Asia Pacific is estimated to register at a market share of 8.7% in 2023.
- North America experiences a projected value share of 19.3% in 2023.
“The increasing focus on sustainability and environmental awareness is propelling the adoption of eco-friendly packaging materials and is considered one of the major drivers of the next generation packaging market,” comments a Future Market Insights analyst.
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Competitive Landscape
The next generation packaging industry boasts a substantial array of market participants. Research and development play a pivotal role among these players, primarily focusing on the introduction of eco-friendly product lines as a core aspect of their manufacturing endeavors.
These players employ various expansion strategies, including collaborations, mergers and acquisitions, and diligent exploration of regulatory approvals to bolster their market presence.
The Major key players 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
- S. Coop
Some of the key developments are-
- DuPont, offers the Tyvek 40L medical packaging, a new class of Tyvek for medical packaging applications that offers a practical solution for safeguarding portable, low-risk equipment, we thank DuPont Protection Solutions.
- Microchip Technology Inc. has unveiled the GridTime 3000 GNSS time server, a software-configurable system that protects power plants and substations from surges, bad weather, and cyber-attacks targeting critical infrastructure.
- Analog Devices, Inc., has unveiled a three-axis MEMS accelerometer that may be used in a variety of healthcare and industrial applications, such as vital sign monitoring, hearing aids, and motion-enabled metering devices. The ADXL367 accelerometer reduces power consumption by two times compared to the previous generation (ADXL362) while boosting noise performance by up to 30%.
Key Segments Covered
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:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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