It is projected to rise at a healthy CAGR of 7.5% during the period from 2018 to 2026.

 

This is mostly due to the rising focus of the industry players to increase the shelf life of the products.

 

The increasing consumption of convenience products such as packaged food and baverages has fueled the demand for advanced p0ackaging technologies globally.

 

Players in the packaging technology market are focusing on product innovations and developments to improve packaging quality and make it more systematic.

 

Leading brand owners are planning to use advanced packaging technologies for their products to create brand differentiation and boost the traceability of their products. This is the distinguished factor behind the continous growth of the packaging materials.

 

Some of the latest packaging techniques that are launched recently in the advanced packaging technologies market include tetra-packs, chip based packaging and bio-based packaging.

 

Further, advanced packaging technologies offers greater device connectivity, better control and lower power consumption compared with traditional packaging configurations.

This are some other factors likely to increase growth in the advanced packaging technologies market in the fourth coming years.