Global demand for flexible packaging to grow 3.5% annually to 2013: report
Canadian PlasticsEconomy Plastics Industry Economic Changes/Forecast
World demand for converted flexible packaging is forecast to increase 3.5 per cent per year to over 19 million...
World demand for converted flexible packaging is forecast to increase 3.5 per cent per year to over 19 million metric tons in 2013, according to a new study.
The study, released by market research firm the Freedonia Group, provides forecasts to 2013 and 2018 for flexible packaging demand by material (polyethylene, polypropylene, other plastics, paper and foil) and market (food and nonfood) on a country-by-country and region-by-region basis.
“Factors contributing to rising demand will include growth in food and beverage production, which represents the largest market by far,” the report concluded. “In addition, cost, performance and source reduction advantages, as well as ongoing developments in high-barrier resins and value-added features, will continue to favour flexible packaging products over their rigid counterpart.”
According to the study, the fastest increases will occur in the world’s developing regions. Rising consumer income levels and expanding middle-classes will generate demand for packaged consumer goods like processed foods, beverages, pharmaceuticals, and cosmetics and toiletries, boosting converted flexible packaging consumption. “Some of the best gains are expected in China and India,” the study said. “Rapid gains are also expected in Russia and Indonesia.”
For more information, please visit this link.