Study: Advanced packaging technologies market to rise 7.5% CAGR by 2026
Increasing consumer demand and trend of using packaging as a product marketing strategy are expected to further fuel the growth of the global advanced packaging technologies market.
The global advanced packaging technologies market is projected to rise at a CAGR of 7.5%, during the forecast period of 2018-2026, according to a study produced by Transparency Market Research, Albany, N.Y.
Asia-Pacific is expected to hold a majority of share in the advanced packaging technologies market. This is mainly due the booming foodservice industry coupled with shifting consumer preference toward packaged food and beverages. Based on technology, the active packaging segment is gaining traction mainly in part to its ability to enhance shelf life and properties of contained food on the packaging.