The global next generation packaging market is on track to achieve a market valuation of USD 12,847.9 million by 2023. Demand is set to gain momentum at a projected CAGR of 6.43% from 2023 to 2033. The market is expected to reach USD 23,952.9 million by 2033.
Key Trends and Highlights
| Attributes | Key Insights |
|---|---|
| Next Generation Packaging Market Estimated Size in 2023 | USD 12,847.9 million |
| Projected Market Size in 2033 | USD 23,952.9 million |
| Value-based CAGR from 2023 to 2033 | 6.43% |
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
The scope for global next-generation packaging market insights rose at a 2.76% CAGR between 2018 and 2022. The next-generation packaging market is anticipated to develop at a moderate CAGR of 6.43% over the forecast period from 2023 to 2033.
| Attributes | Details |
|---|---|
| Market Value in 2018 | USD 11,480.2 million |
| Market Value in 2022 | USD 12,800.3 million |
| CAGR from 2018 to 2022 | 2.76% |
The global next-generation packaging market is poised for substantial growth in the coming years, primarily driven by several key factors. The aging global population is creating a heightened demand for packaging solutions that cater to the specific needs of elderly consumers, such as easy-open features and clear labeling.
Advancements in packaging materials are further contributing to the market's expansion, as innovative materials offer improved preservation and protection of products while aligning with sustainability goals.
A notable trend accompanying this growth is the increasing investment in research and development within the packaging technology sector. Companies are keen on enhancing their packaging offerings, whether through smart packaging solutions or eco-friendly materials.
The widespread adoption of QR codes on packaging is another significant trend, enabling brands to provide consumers with valuable information, promotions, and engagement opportunities.
The development of advanced sensors is revolutionizing the way packaging interacts with products, ensuring freshness, authenticity, and quality assurance. The trends collectively shape the future landscape of the next-generation packaging market, promising further innovation and sustainability in the industry.
From the below table, it is evident that active packaging is expected to acquire a 43.6% revenue share in 2033. The table further continues with details about how food & beverage are anticipated to witness a market share of 41.2% through 2033.
| Category | Market Share by 2033 |
|---|---|
| Active Packaging | 43.6% |
| Food & Beverage | 41.2% |
The food and beverage sector within the next-generation packaging market offers a range of significant advantages. These include safeguarding food against contamination, extending the shelf life of food products, and enhancing overall operational efficiency.
These factors are poised to drive substantial growth within the food packaging industry. Changing demographics, such as smaller household sizes, increasing disposable incomes, and a growing population, are expected to have a positive influence on the market.
Active packaging, with its diverse range of benefits such as enhanced product freshness, prolonged shelf life, and protection against contamination, commands a substantial share of over 43.6% in the global next-generation packaging market.
This dominance is anticipated to persist steadily throughout the forecast period, underlining its pivotal role in shaping the future of packaging solutions across various industries.
The below table showcases revenues in terms of the five regions, spearheaded by North America, Europe, Asia Pacific, and Latin America. Out of these countries, North America is leading followed by Europe.
Market Share in 2023
| North America | 19.3% |
|---|---|
| Europe | 10.3% |
| Asia Pacific | 8.7% |
| Latin America | 7.1% |
The retail sector in North America is experiencing robust growth, fueled by consumer preferences for convenient and packaged food products. The trend is poised to significantly boost the demand for advanced packaging solutions in the region. North America enjoys a competitive advantage with a multitude of packaging manufacturers operating within its borders, further supporting the industry's expansion.
The combination of a thriving retail landscape and a well-established manufacturing base positions North America as a key player in the global packaging market. As consumers continue to seek convenience and reliable packaging for their purchases, the region is primed for sustained growth in the packaging sector, offering innovative solutions to meet evolving market demands.
Europe, despite reaching a high level of market saturation, is poised for continued growth in the next-generation packaging sector. The region's single market policy, which facilitates free trade among European countries, is a key driver of this optimistic outlook. The seamless flow of goods within the European Union encourages exports, providing a conducive environment for industry expansion. The region’s analysis includes both Western and Eastern Europe.
Europe’s consumers and businesses are increasingly embracing sustainability and environmental consciousness, which aligns with the goals of next-generation packaging technologies.
As the demand for eco-friendly and smart packaging solutions continues to rise, Europe is likely to witness sustained growth in the next-generation packaging market, driven by the need for innovative and environmentally responsible packaging solutions.
The food packaging industry in the Asia Pacific is on the brink of significant expansion, driven by a confluence of factors. The region covers an analysis of the next generation packaging landscape in East Asia and South Asia & Pacific.
Rising per capita income, a steadily increasing population, and a surging demand for packaged food are particularly fuelling this growth trajectory. Emerging economies such as India, Japan, and China are leading the charge in the region, experiencing a growing appetite for packaged food products.
As consumers' disposable income levels continue to rise, there is a notable shift towards convenience and processed foods across the Asia Pacific. This trend, coupled with the region's burgeoning population, presents a substantial market opportunity for food packaging solutions. Manufacturers are increasingly focusing on innovative and sustainable packaging technologies to meet evolving consumer demands and capitalize on the burgeoning food packaging sector in the region.
The food packaging industry in Latin America is poised for substantial growth, driven primarily by two key factors. Firstly, the region's expanding middle class, accompanied by a considerable increase in purchasing power, is changing consumption patterns and fueling the demand for packaged food products. This rising affluence is leading to a shift towards convenience and packaged foods, propelling the food packaging industry forward.
On another front, India stands out as the fastest-growing market in the food packaging sector. The country's burgeoning retail chains are experiencing a surge in popularity, contributing significantly to the increased demand for food packaging solutions.
As more consumers turn to organized retail outlets and modern supermarkets, the need for efficient and appealing food packaging becomes paramount. This trend is expected to continue driving the growth of the food packaging industry in India, making it a prominent player in the global landscape.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
Major next-generation packaging market players are innovating to address critical care requirements and boost user confidence, fostering market expansion. The growing elderly population is expected to significantly impact market growth, driving manufacturers to develop competitive products.
Some of the recent developments are:
| Attributes | Details |
|---|---|
| Estimated Market Size in 2023 | USD 12,847.9 million |
| Projected Market Valuation in 2033 | USD 23,952.9 million |
| CAGR Share from 2023 to 2033 | 6.43% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Market Segments Covered | Packaging Type, Application, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | 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 |
The market is expected to reach a valuation of USD 12,847.9 million in 2023.
The market is set to expand by a CAGR of 6.43% by 2033.
The market is forecasted to reach USD 23,952.9 million by 2033.
Active packaging is preferred and are expected to rise at a market share of 43.6% through 2033
| Estimated Size, 2025 | USD 13.8 billion |
|---|---|
| Projected Size, 2035 | USD 23.6 billion |
| Value-based CAGR (2025 to 2035) | 5.5% |
| Estimated Size, 2024 | USD 982.1 million |
|---|---|
| Projected Size, 2034 | USD 1,661.7 million |
| Value-based CAGR (2024 to 2034) | 5.4% |
| Market Size (2024) | USD 26.6 billion |
|---|---|
| Market Anticipated Forecast Value (2034) | USD 59.1 billion |
| Market Projected Growth Rate (2024 to 2034) | 8.3% CAGR |
| Market Estimated Market (2023) | USD 23.6 billion |
|---|---|
| Projected Market Value (2033) | USD 56.0 billion |
| Value-based CAGR (2023 to 2033) | 9.0% |
Explore Upcoming Technologies Insights
View Reports
Next Generation Packaging Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
