Increasing demand for cost effective packaging in the
advanced packaging technology market had led to an upsurge in demand for
advanced technology and design modification to packaging solution in order to
enhance the conventional and traditional packaging solution. However,
Imposition of the government regulation regarding cost effective and
eco-friendly advanced solution for packaging is expected to register healthy
growth over the forecast period, 2021-2028.
Market analysis
Increasing demand for ready to eat food such meat, frozen
food, baby food and dairy food had led to an upsurge in demand for the advanced
packaging technology market. As compare to other conventional packages offered,
the advanced packaging technology is quick and smart. The key factor for the
growth also depends on the demand during the forecast period as this
technologies cover the following industry such as non-alcoholic, pharmaceutical
as well as agricultural industry. The advance packaging technologies market
comprises of large part of the packaging industries and is moving toward advanced
packaging techniques. However, attributed
to these factors the demand for advanced packaging technology is moving toward
enhanced packaging solution in the global market. Also, growing awareness among
the customers regarding advance packaging is expected to contribute toward the
growth of the advanced packaging technologies market during the forecast period.
On the other side, limited support
of the government in various developed countries is expected to inhibit growth
of the advanced packaging technologies market. The industrial automation and
robotic companies are expanding into self-driven robotic market to meet the
demand of the fast evolving market. Also, the need of automation market and the
cost reduction through the use of less labor technology have
aided in the growth of the global self-driven robot market
Segmentation analysis
The global advanced packaging technologies market is
expected to be segmented in terms of distribution channels, regions and product
type. North America and Europe are among the other region expected to remain
dominant in the global market and is also expected to represent a major
consumer that are significantly environment friendly. The develop region will
continue to be dominant over the forecast period. Surge in increase population
will further lead demand of the advanced packaging technologies market. Europe
is expected to represent the major section of the region globally. The develop
region will continue to remain dominant over the forecast period. Also,
Innovation in terms of hardware and software and increasing application in
various sector will increase the adoption of the market.
Market Player
The key marketing player in the global advanced packaging
technology market includes Amcor Limited, Ball
Corporation, Bemis Company Inc., Graham Packaging Company, Constar
International, Sysco Corporation, Sealed Air Corporation, Kuvee, Thermos Llc.,
Circadian Design, Inc., AdhereTech Inc., MyHydrate, Sonoco Thermosafe, Cold
Chain Technologies, and Saeplast Americas Inc. Major market player are focusing
on high business value with cost effectiveness and also strengthen core competence
among the global market players with the resource which are easily available.
Significant investment in research and development for marketing innovation
will give the market player a competitive environment at the global market. The packaging
market is geographically segmented into seven key regions including North
America, Latin America, Western Europe, Eastern Europe, Middle East and Africa,
Asia Pacific excluding Japan and Japan. Bound to these factors, the global
market is expected to rev up during the forecast period.
