Asia-Pacific Next Generation Packaging Market, By Type (Active Packaging, Intelligent Packaging and Modified Atmosphere Packaging), Function (Moisture Control, Temperature Indicators, Shelf Life Sensing, Product Tracking, and Others), Technology (Scavengers and Susceptors RFID Tags, QR Codes, NFC Tags, Coding & Markings, Sensors & Output Devices, and Others), Material (Plastic, Paper, Corrugated Board and Others), Application (Food, Beverages, Personal Care, Healthcare, Logistics & Supply Chain, Consumer Electronics and Others.), Country (Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and Rest of Asia-Pacific) Industry Trends and Forecast to 2029.
Market Analysis and Insights: Asia-Pacific Next Generation Packaging Market
Asia-Pacific next generation packaging market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing with a CAGR of 7.2% in the forecast period of 2022 to 2029 and is expected to reach USD 4,141.99 million by 2029 from USD 2,377.40 million in 2021.
Next generation packaging includes active, intelligent and modified atmosphere packaging. It is basically a packaging technology, which possesses different advanced features, such as traceability, offers various benefits such as product shelf life extension and provides product quality information. The term active packaging, intelligent packaging, smart packaging refer to packaging systems used for foods, pharmaceuticals, and several other types of products. They help extend shelf life, monitor freshness, display information on quality, improve safety, and improve convenience. These terms are closely related. For instance- active packaging usually means having active functions beyond the inert passive containment and protection of the product, Intelligent and active packaging usually involves the ability to sense or measure an attribute of the product, the inner atmosphere of the package, or the shipping environment. This information can be communicated to users or can trigger active packaging functions, programmable matter, and smart materials among others.
The recent trend indicates increasing demand for next generation packaging as investments in public and private healthcare industries increase. The factors driving the growth of the market are raising health awareness among the general population, and continuous technological advancements in packaging. With the rapid growth of globalization and increase in mandates for food and beverages by various countries and regions, the global next generation packaging market will witness an increased trajectory in the coming years. However, the high cost of packaging will restrict the market growth.
Various companies are making strategic decisions, such as forming agreements with research facilities to launch new products, to improve their market share. As a result, the next generation packaging market is growing at a rapid rate.
To understand the analysis and the next generation packaging market scenario, contact Data Bridge Market Research for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Next Generation Packaging Market Scope and Market Size
Asia-Pacific next generation packaging market is segmented into five segments based on packaging type, function, technology, material, and application.
The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of packaging type, the Asia-Pacific next generation packaging market is segmented into active packaging, intelligent packaging and modified atmosphere packaging. In 2022, active packaging segment is expected to dominate the market due to high production quantity and ease to use nature of active packaging.
- On the basis of function, the Asia-Pacific next generation packaging is segmented into moisture control, temperature indicators, shelf life sensing, product tracking, and others. In 2022, the moisture control segment is expected to dominate the market as it is the most demanded packaging function to extend the shelf life of the product.
- On the basis of technology, the Asia-Pacific next generation packaging market is segmented into scavengers and susceptors, RFID tags, QR codes, NFC tags, coding & markings, sensors & output devices, and others. In 2022, the scavengers and susceptors segment is expected to dominate the market as it gives easy access of the product to consumers.
- On the basis of material, the Asia-Pacific next generation packaging market is segmented into plastic, paper, glass, corrugated board, metal, and others. In 2022, the plastic segment is expected to dominate the market due its availability of affordability of product for consumer.
- On the basis of application, the Asia-Pacific next generation packaging market is segmented into food, beverages, personal care, healthcare, logistics and supply chain, consumer electronics, and others. In 2022, the food segment is expected to dominate the market as the demand for packed food is increasing all over the world owing to the busy lifestyle of consumers.
Asia-Pacific next generation packaging market is fragmented, and major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in the next generation packaging market.
Asia-Pacific by country is segmented into China, India, Japan, South Korea, Australia & New Zealand, Thailand, Philippines, Indonesia, Singapore, Malaysia, and Rest of Asia-Pacific. In 2021, Japan is expected to dominate the Asia-Pacific next generation packaging market, due to growing application of this market in the food and beverage industry.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Next Generation Packaging is Boosting the Market Growth
The Asia-Pacific next generation packaging market also provides you with a detailed market analysis for every country's growth in a particular market. Additionally, it provides detailed information regarding the market players’ strategy and their geographical presence. The data is available for the historical period 2010 to 2020.
Competitive Landscape and Asia-Pacific Next Generation Packaging Market Share Analysis
Asia-Pacific next generation packaging market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the companies’ focus related to the Asia-Pacific next generation packaging market.
Some of the major players operating in the Asia-Pacific next generation packaging market are LCR Hallcrest Ltd, Ampacet Corporation, WestRock Company, Tetra Pak, Scan and win, R.R. Donnelley & Sons Company, Sonoco Products Company, Smart Packaging, Amcor Plc, CONSTANTIA FLEXIBLES, Klöckner Pentaplast, Graham Packaging Company, Avery Dennison Corporation, DS Smith, and Cryolog among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many developments are also initiated by the companies worldwide, which are accelerating the Asia-Pacific next generation packaging market growth.
- In April 2019, Amcor plc launched new recyclable packaging that can reduce a pack's carbon footprint by up to 64%. This product launch helped the company to increase the product portfolio and increase their sales.
Customization Available: Asia-Pacific Next Generation Packaging Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market, and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.