Overview:

The global next generation packaging market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Next generation packaging is improved form of packaging solution that is more efficient and eco-friendly.

There are various type of next generation packaging such as active packaging, modified packaging, and intelligent packaging. The active packaging includes integrated gas scavengers, antimicrobials, and emitters. However, modified packaging is customized packaging and intelligent packaging includes indicators, sensors, and tags integrated with packaging material. Players operating in various end use industries are opting for the enhanced packaging solution in order to lower the plastic pollution.

Market Dynamics:

Advancements in packaging technology, developing government stringent regulations related to use of plastic in food and medicine packaging, along with introduction of sustainable packaging solutions from players are key factors expected to drive the growth of global next generation packaging market.

In addition, rising consumer demand for efficient packaging solution and increasing merger and acquisition activities are other factors expected to support growth of the target market over the forecast period.

However, factors such as high cost associated to installation of packaging technology and high cost of material are expected to hamper the growth of global next generation packaging market to a certain extent.

Key Trends:

Growing focus on product development among major players and innovative product offerings in order to increase the revenue are key trends witnessed in the global next generation packaging market. In 2019, Amcor plc - a leading company that develops and produces flexible packaging, rigid containers, specialty cartons, and closures for various end use industries launched AmLite Ultra Recyclable packaging made from sustainable high-barrier polyolefin film.

Regional Analysis:

For detailed understanding of market dynamics, the global next generation packaging market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America accounted for the major revenue share in 2018, owing to stringent government regulation related to plastic use. In addition, growing demand for packed food products among consumers in the region and rising demand for advanced packaging solutions to increase the shelf life of perishable products are other factors expected to support growth of the target market.

Furthermore, increasing investment by major players for R&D activities and inclination towards innovative product offerings are some other factors expected to boost growth of the global market.

Scope of the Report:

Detailed Segmentation:

Global Next Generation Packaging Market, By Type:

• Active Packaging
• Intelligent Packaging

Global Next Generation Packaging Market, By Application:

• Food & Beverages
• Healthcare & Pharmaceuticals
• Personal Care
• Logistics & Supply Chain

Key Players Covered:

Key players operating in the global next generation packaging market includes, WestRock Company, Sonoco Products Company, Sealed Air Corporation, Stora Enso Oyj, Bemis Company, Inc., MULTIVAC, WS Packaging Group, Inc., Amcor Limited, Active Packaging Ltd., and ULMA Packaging.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Next Generation Packaging Market by type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global next generation packaging market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.