all report title image
  • Published On : Oct 2022
  • Code : CMI3999
  • Industry : Packaging
  • Pages : 120
  • Formats :

Next-generation packaging is an advanced packaging solution that offers various benefits in terms of product quality information and traceability. It helps in tracking and monitoring the product during the entire supply chain process from shipments to delivery of the product to the location. This ensures the safe delivery of the product to the consumer while preventing damages of the packaged materials. Food & beverages, personal care, healthcare & pharmaceuticals, and logistics are some of the major end users of next-generation packaging.

Global Next generation packaging was valued at US$ 48.00 Billion in 2021 in terms of revenue, exhibiting a CAGR of  6.2 % during the forecast period (2022 to 2030).

Drivers

Increasing demand for a product with longer shelf-life especially food products which are gaining huge demand across retailers as well as consumers are projected to augment market growth. Active packaging is mainly done to enhance the shelf-life of the product as it remove leftover oxygen from closed packets which extend the shelf-life of the product. Thus, growing need for a product with longer shelf-life is expected to augment the market growth of next-generation packaging.

Rapid urbanization and industrialization across emerging regions along with the increasing trade worldwide is expected to propel the market growth of next-generation packaging. Moreover, growth in the packaging industry due to overall economic development coupled with the increasing disposable income of the consumer is driving demand for consumers goods is further expected to foster the market growth of next-generation packaging. 

Key players functioning in the market are adopting new strategies in order to mitigate the impact of the Covid-19 pandemic. Rising demand for packaged food & beverage products among consumers across the globe has fuelled the growth of the market during the pandemic situation. This scenario is expected to continue with the extension of lockdowns in various countries across the globe in response to the Covid-19 pandemic.

Figure 1. Global Next Generation Packaging Market Value Share (%), By Region, 2021

Next Generation Packaging  | Coherent Market Insights

Market Restraints

The high cost of installation of next-generation packaging technology is expected to restrict the adoption of this technology. This is expected to hinder the market growth of next-generation packaging.

Privacy issues associated with the RFID next-generation packaging solution is expected to curb market growth. Moreover, limited commercial applications of certain next-generation packaging solution are also expected to hinder the market growth.

CMI table icon

Next Generation Packaging Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 48.00 Bn
Historical Data for: 2017-2020 Forecast Period: 2022
Forecast Period 2022 to 2030 CAGR: 6.2 % Forecast Period: 2022-2030
Geographies covered:
  • Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Segments covered:
  • By Packaging Type: Active Packaging, Intelligent Packaging
  • By Application: Food & Beverages, Healthcare & Pharmaceuticals, Personal Care, Logistics & Supply Chain, Others
Companies covered:

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

Growth Drivers:
  • Increasing demand for a product with longer shelf-life especially food products
  • Rapid urbanization and industrialization across developing regions 
Restraints & Challenges:
  • High cost of installation of next-generation packaging technology

Market Trends

Advancement in technology by major players supported by favorable government policies is the current major trend in the market. For instance, in March 2020, Aptar Food + Beverage, part of AptarGroup, has launched InvisiShield platform technology. The new product is a anti-pathogenic packaging solution which can be integrated into sealed packages to protect fresh-cut produce from harmful pathogens like bacteria, fungi, and viruses.

Product launching among next-generation packaging provider is a growing trend in the market. For instance, in June 2022, MULTIVAC launched W 500, a universal flowpackaging solution  provides increased flexibility and output for packaging food products in pillow packs, while supporting the use of sustainable film and paper-based materials.

Figure 2. Global Next Generation Packaging Market Value Share (%), By Application, 2021

Next Generation Packaging  | Coherent Market Insights

On the basis of application, food & beverages dominated the global next-generation packaging market in 2021 with around 44% of market share in terms of revenue, followed by healthcare & pharmaceuticals and personal care, respectively.       

Recent Developments

  • In April 2019, Amcor has launched AmLite Ultra Recyclable, its first packaging product made from the company’s more sustainable high-barrier polyolefin film. The new high-barrier laminate can package a range of food, home, and personal care, and pharmaceutical products.
  • In October 2022, Sonoco ThermoSafe, a unit of Sonoco Products Company,one of the largest global providers of temperature assurance cold chain packaging, is expanding its Orion Rental packaging program in Europe and an additional reclamation service station in Brussels.
  • In June 2022, Stora Enso Oyj, a leading provider of renewable solutions in packaging, launched premium white kfatliner a new packaging segment especially for fresh food, e-commerce, and shelf-ready packaging.

Competitive Section

Major players operating in the global next-generation packaging market include 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.

Next-generation packaging are the effective technologies which maintains the quality of food products or any other easily perishable products by modifying the atmosphere which surrounds the product within the packaging. Due to this, the shelf-stability of the product is enhanced to longer periods of time, freshness of the product remains intact and product worth is increases due to convenient packaging.

Market Dynamics

The global next-generation packaging market has witnessed significant growth in recent past years, owing to the rising growth of food & beverages and pharmaceutical industry in emerging economies, which in turn has resulted the rise in demand for innovative packaging solutions. This is expected to foster the demand for next-generation packaging in the next few years.

Major players in the global next-generation packaging market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities to capitalize on emerging trends in various end-use industries such as chemical, food & beverages, electrical & electronics, pharmaceuticals, and others. This scenario is expected to fuel the market during the forecast period.

Next generation packaging is employed across end-use applications in various sectors such as health care and pharmaceuticals, food and beverages, logistics and supply chain, personal care, and others including automotive and industry. In order to increase the shelf life of perishable food products, next generation packaging is in high demand across the food and beverages industry. The global next generation packaging market is witnessing significant demand from the health care and pharmaceuticals sector. The market also holds considerable potential for growth with the rapid expansion of the e-commerce sector, where next generation packaging is widely deployed in logistics.

Key features of the study:

  • This report provides an in-depth analysis of global next generation packaging market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global next generation packaging market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes 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.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
  • The global next generation packaging market report caters to various stakeholders in this industry including investors, suppliers, next generation packaging manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global next generation packaging market.

Detailed Segmentation:

  • Global Next Generation Packaging Market, By Packaging Type:
    • Active Packaging
    • Intelligent Packaging
  • Global Next Generation Packaging Market, By Application:
    • Food & Beverages
    • Healthcare & Pharmaceuticals
    • Personal Care
    • Logistics & Supply Chain
  •  Global Next Generation Packaging Market, By Region:
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Europe
      • U.K.
      • France
      • Germany
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • Rest of Asia Pacific
    • Middle East & Africa
      • South Africa
      • Rest of Middle East & Africa
  • Company Profiles
    • Amcor Limited*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • WestRock Company
    • Sonoco Products Company
    • Sealed Air Corporation
    • Stora Enso Oyj
    • Bemis Company, Inc.
    • MULTIVAC
    • WS Packaging Group, Inc.
    • Active Packaging Ltd.
    • ULMA Packaging, S.Coop.

 “*” marked represents similar segmentation in other categories in the respective.

Frequently Asked Questions

Global next generation packaging market was valued at around US$ 48.00 Billion in 2021.
Increasing demand for a product with longer shelf-life especially food products coupled with rapid urbanization and industrialization across emerging regions is fuelling the growth of the market.
Advancement in technology by major players supported by favourable government policies which is expected to favour market growth over the forecast period.
High cost of installation of next-generation packaging technology is expected to hamper the growth the market during the forecast period.
Major players operating in the market include 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 market is estimated to grow at around 6.2% CAGR in the forecast period (2022-2030).

Related Reports

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo