Press release
Next Generation Packaging Market - 2022 by Manufacturers, Regions, Size, Share, Forecast to 2028 | by WestRock Company, Amcor plc, Sonoco Products Company
The Next-Generation Packaging Market is anticipated to expand significantly between 2022 and 2028. According to Infinity Business Insights analysis, the market is predicted to develop at a CAGR of 6.5% from 2022 to 2028 and reach USD 11,209.94 million by 2028.
Additionally, this next-generation packaging market research report provides information on consumer wants, preferences, and varying levels of product liking. For the benefit of users, all the data and information, particularly the numerical data, involved in this Next generation packaging Market document has been very well displayed in the form of graphs, charts, or tables.
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The Global Next Generation Packaging Market Research, which comprises market data tables, a pie chart, graphs, and figures, as per the Research. The study offers a thorough analysis of the market, taking into account present growth factors, predictions based on industry-validated market data, expert comments, statistics, and future market trends. The Global Next Generation Packaging Market Report is a reliable source of information that offers a broad overview of the current market conditions, trends, and opportunities. The research investigations completed for this study aid in making educated guesses about a number of significant factors, including but not restricted to investments in developing markets, the success of new products, and the growth of market share.
Segment Analysis:
The global market for next-generation packaging is divided into three types based on type: modified atmosphere packaging, intelligent packaging, and active packaging. Due to its large production volume and user-friendly design, the active packaging sector is anticipated to rule the market in 2022. The global market for next-generation packaging is divided into categories based on function, including moisture control, temperature indicators, shelf life monitoring, product tracking, and others. Since extending the shelf life of the product is the most sought-after packaging function, the moisture control sector is predicted to dominate the market in 2022.The global market for next-generation packaging is divided into many technology categories based on scavengers and susceptors, RFID tags, QR codes, NFC tags, coding and markings, sensors & output devices, and others. Scavengers and susceptors are predicted to dominate the market in 2022 because they provide consumers with simple access to the product.
The adoption of next-generation packaging goods is accelerating due to the growing demand for intelligent packaging to prevent food waste, which is anticipated to fuel market expansion. The market's expansion is anticipated to be constrained by the high costs connected with research and development efforts. As investments in the public and commercial food industries continue to rise, the most recent trend points to an increase in demand for next-generation packaging. Rising health consciousness among the populace and ongoing technological improvements in packaging are the key market growth drivers. The global market for next-generation packaging will experience an elevated trajectory in the years to come due to the rapid expansion of globalisation and the rise in mandates for food and drinks by various governments and regions.
The worldwide next generation packaging's high packaging costs will, however, limit market expansion. To increase their market share, several businesses make strategic choices including partnering with research centres to introduce new products. As a result, the market for next-generation packaging is expanding quickly. On the other hand, current inventions and the introduction of fresh products are expanding market potential. The global market for next-generation packaging is facing a threat from the accessibility of substitute products.
Regional Analysis:
North America is anticipated to have a 35.0% market share, leading the sector. Emerging economies in Latin America are quickly industrialising, and it is anticipated that they will have a significant impact on the expansion of the worldwide market for next-generation packaging. Asia-Pacific is expected to grow at the quickest rate from 2022 to 2028 as major manufacturers concentrate on manufacturing food and beverage products using next-generation packaging and the rest of the region include The Americas (U.S., Canada),South America (Brazil, Mexico, Rest of Latin America),Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe) (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe),Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific) (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific),Arab World (Saudi Arabia, Turkey, UAE, Rest of Middle East), Africa (South Africa, Nigeria, Egypt, Rest of Africa).
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Competitive Analysis:
The major players covered in the Next generation packaging market report are WestRock Company, Amcor plc, Sonoco Products Company, Bemis Company Inc., Stora Enso Oyj, WS Packaging Group Inc., ULMA Packaging, S.Coop, MULTIVAC, Sealed Air and Active Packaging Ltd., among other domestic and global players. Market share data is available for global.
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