The global next-generation packaging market is on the brink of reaching a substantial valuation, projected to reach US$ 12,847.9 million by 2023. The market is poised to rise at a CAGR of 6.43% from 2023 to 2033, reaching US$ 23,952.9 million.
On the brink of significant expansion, the Asia Pacific food packaging industry is being propelled by various factors. Factors such as rising per capita income, a steadily increasing population, and a surging demand for packaged food are particularly fueling this growth trajectory, with emerging economies like India, Japan, and China leading the charge in the region’s growing appetite for packaged food products.
The relentless pace of technological advancement is driving the production of small electronic devices across diverse industry verticals, ranging from consumer electronics and healthcare to automotive and semiconductor IC manufacturing. This trend is fueled by the growing demand for precise patterning on wafers and chips, leading to the relentless miniaturization of integrated circuits.
Request Sample: https://www.futuremarketinsigh....ts.com/reports/sampl
Notably, the medical devices sector has experienced a surge in the demand for Nano-sized robotic surgery equipment, driven by advancements in wearable technology and personalized healthcare devices. Consequently, designers are increasingly turning to smart packaging solutions as a means to accommodate these miniature electrical devices.
Within the semiconductor industry, the push for miniaturized electrical components is driven by the escalating need for high-performance electronics. Advanced semiconductor packaging techniques have emerged to meet these demands, but they come at a cost. Compared to conventional packaging methods, advanced packaging methods are more expensive. As the semiconductor manufacturing process progresses to each subsequent node, the costs rise significantly, reaching a point where it becomes economically challenging to continue development and production.
Key Takeaways from the Market Study
• The market valuation in 2022 was US$ 12,800.3
• Based on packaging type, active packaging is expected to dominate at a market share of 43.6% by 2033.
• Based on application, food & beverage will register at a market share of 41.5% by 2033.
• The next-generation packaging market size expanded at 2.76% CAGR between 2018 and 2022.
• Asia Pacific is estimated to register at a market share of 8.7% in 2023.
• North America experiences a projected value share of 19.3% in 2023.
“The increasing focus on sustainability and environmental awareness is propelling the adoption of eco-friendly packaging materials and is considered one of the major drivers of the next generation packaging market,” comments a Future Market Insights analyst.
Competitive Landscape
The next generation packaging industry boasts a substantial array of market participants. Research and development play a pivotal role among these players, primarily focusing on the introduction of eco-friendly product lines as a core aspect of their manufacturing endeavors.
These players employ various expansion strategies, including collaborations, mergers and acquisitions, and diligent exploration of regulatory approvals to bolster their market presence.
The Major key players Are:
• Amcor Limited
• WestRock Company
• Sonoco Products Company
• Sealed Air Corporation
• Stora Enso Oyj
• Bemis Company, Inc.
• MULTIVAC
• WS Packaging Group, Inc.
• Active Packaging Limited
• ULMA Packaging
• S. Coop
Key Segments Covered
Packaging Type:
• Active Packaging
• Antimicrobials
• Gas Scavengers
• Gas Emitters
• Others (Moisture & Corrosion Control)
• Intelligent Packaging
• Sensors
• Indicators
• Tags
• Modified Atmosphere Packaging
By Application:
• Food & Beverages
• Healthcare & Pharmaceuticals
• Personal Care
• Logistics & Supply Chain
• Others (Automotive & Industrial)
By Region:
• North America
• Latin America
• Western Europe
• Eastern Europe
• East Asia
• South Asia & Pacific
• The Middle East & Africa

Search

Get you queries resolved from our expert analysts who will assist with all your research needs and customize the report