According to a new market research report published by sheer analytics and insights, “The Global Next Generation Packaging Market was $3.8 Bn in 2020, and it is expected to reach $9.91 Bn by 2031. It is eventually growing at a commendable high compound annual growth rate CAGR of 9.04% between 2021-2031, as per the latest market research report titled Global Next Generation Packaging Market (By Type – Active Packaging, Intelligent Packaging, and Modified Atmosphere Packaging. By Application – Food & Beverages, Healthcare & Pharmaceuticals, Personal Care, Logistics & Supply Chain, Others. By Geography – North America, South America, Europe, Asia Pacific, Middle East, and Africa.) - Global industry analysis, size, share, growth, trends and forecast, 2021 – 2031.
The advancements in the packaging materials and the increase in the geriatric population along with the increased sustainable packaging technique are the main reasons that will help to accelerate the growth of this market during the forecasted period. besides this, there are other factors that help to accelerate the growth of this market is QR Codes on packaging, increased research and development spending on the packaging technology, and also the development of advanced sensors that will help to track the packages during shipment of the product. The demand for this packaging will also help to boost the market in the food and beverages segment. So these are the main factors that will help to accelerate the growth of this market.
Geographically, The Global Next Generation Packaging Market is divided into global regions like North America, Europe, Asia- Pacific, South America, Middle East, and Africa.
The primary key players in the Global Next Generation Packaging Market include 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.
The Global Next Generation Packaging Market Has Been Segmented Into:
Global Next Generation Packaging Market, By Packaging
Global Next Generation Packaging Market, By Application
Global Next Generation Packaging Market, By Region