Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Next-Generation Packaging Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international Next-Generation
Packaging Market. The research
also emphasizes on the impact of restraints, drivers, and macro indicators on
the regional and global Next-Generation Packaging Market over the short as well as long period of time. A detailed
presentation of forecast, trends, and dollar values of global Next-Generation
Packaging Market is offered. In
accordance with the report, the global Next-Generation Packaging Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Next-Generation
packaging are advanced packaging solutions. These kinds of packages comprise of
features including traceability, product information, and resistant to product
damages. These sorts of packages are particularly important for tracing
freights over long distances without compromising protection of the content.
Market Drivers
The
thriving pharmaceutical industry is providing the initial impetus to this
market. The need for packaging in this market is positively affecting the
growth of this market. Soaring population suffering from chronic diseases and
the upsurge in the geriatric population is accelerating the need for medical
and healthcare services. As a result, the transportation of pharmaceutical
drugs and medication has gained momentum which is driving this market.
Technological
advancement and its implementation in the innovation of advanced packaging
solutions has resulted in bolstering this market. The incorporation of QR
Codes, advanced sensors, and sensor enabled RFID is the result of technological
employment in this sector. Further, the continuous research and development in
the packaging industry coupled with the inclination towards sustainable
packaging solutions is fueling the growth of this market.
The
food and beverage sector are a significant consumer of next-generation
packaging market. This sector initiates the demand for sensors comprising
silicon photonics, printed electronics, biotechnology and carbon nanotechnology
which is accelerating the growth of the next-generation packaging market. the
utilization of sensor-enabled RFID tags would facilitate the nondestructive and
remote monitoring of packages.
The
development of the e-commerce platforms coupled with increasing penetration of
internet has upsurged the online ordering of goods. This has initiated
shipments and the need for next-generation packaging solutions.
Market Restraints
The
commercialization of the next-generation packaging solutions is subject to
numerous norms and directives imposed by various regulatory bodies which is
impeding the growth of this market. The demand for antimicrobial packaging
solutions is negligent which is negatively affecting this market.
Next-generation
packaging solutions are immoderately priced. The reason behind such high prices
is the cost involved owing to the incorporation of QR Codes and smart sensors
of different variety that enables RFID which is hindering the growth of this
market.
Further, the lack of awareness with regard to
the benefits of such advanced packaging solutions complementary to the lack of
visibility of such packaging solutions are threatening the growth of this
market.
Opportunities
The
development of the retail sector is driving the demand for active packaging
solutions and modified atmosphere packaging solutions which is expected to open
up new avenues for the next-generation packaging market.
The
implementation of intelligent packaging solutions is gaining momentum
especially across the logistics sector for the prevention of counterfeiting and
ensuring traceability which is likely to provide lucrative opportunity to this
market.
Trends
North
America followed by Europe is expected to dominate this market in the forecast
period on account of the rising inclination and adoption of sustainable
packaging solutions. Asia Pacific region is projected to emerge as the fastest
growing region in the forecast period. Latin America is estimated to note
growth owing to rapid industrialization in this market. the QR Code segment is
also estimated to witness significant growth. The rising demand for packaged
foods, convenience foods and ready-to-eat meals are expected to develop this
market. Other factors like the adoption of natural antioxidants in the active
food packaging solutions is anticipated to escalate the growth of this market.
the cosmetics and personal care industry are projected to drive the demand for
RFID technology and boost this market. Globally, the next-generation packaging
market is projected to grow at a CAGR of 3.7% in the forecast period.
Segment Covered:
This market
intelligence report on the global Next-Generation Packaging Market encompasses market segments based on packaging type,
application and country.
By
Product Type the global Next-Generation Packaging Market has been divided into:
q Active
Packaging
o Gas
Emitters
o Gas
Scavengers
o Antimicrobials
o Others
q Intelligent
Packaging
o Tags
o Indicators
o Sensors
q Modified
Atmosphere Packaging
By Application the global Next-Generation
Packaging Market has been divided into:
q Logistics
and Supply Chain
q Cosmetics
and Personal Care
q Health and
Pharmaceuticals
q Food
and Beverages
q Others
By country/region,
the global Next-Generation Packaging Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Sonoco
Products Company
q WestRock
Company
q Tetra
Pak
q Amcor Limited
q Sealed Air Corporation
q Active Packaging Ltd
q Stora Enso OYJ
q Bemis Company
q MULTIVAC Inc
q ULMA Packaging
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Next-Generation Packaging Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
Sonoco Products Company
In September
2019, the initiation of a brand-new EnviroSense sustainable packaging
initiative was announced by Sonoco Products Company.
WestRock Company
In January 2017,
Multi Packaging Solutions International was acquired by Westrock Company for
USD 2.25 billion with the aim of improving services provided to the personal
care and cosmetics industry.
Tetra Pak
In December
2019, the connected packaging platform was launched by Tetra Pak. This provides
information to the shoppers with regard to the origin and recyclability of
packages. Their packaging innovation transitioned ordinary milk cartons by the
incorporation of data management, code generation and digital printing into
interactive information channels.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Next-Generation
Packaging Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Next-Generation Packaging Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Next-Generation Packaging caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Next-Generation
Packaging Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Next-Generation Packaging Market
v
Identification
of key factors driving investment opportunities in the Next-Generation
Packaging Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants