Developing world to drive consumer flexible packaging growth: study

Driven by strong growth in developing countries, the global consumer flexible packaging market is worth US$58.3 billion in 2011 and is forecast to US$71.3 billion by 2016, according to a report from market research firm Pira International.

According to the firm’s new “Future of Global Flexible Packaging to 2016” study, the tonnage for the global consumer flexible packaging market is projected at 18.1 million in 2011 and is forecast to reach 22.5 million tons by 2016.

Continued growth in the Western world might not play as big a role as you’d think, however. “Flexible packaging has reached market maturity in the developed nations of North America and western Europe and future growth will be modest,” the report said.

Asia is the largest regional market with 29.1 per cent of global market volume in 2011, followed by western Europe and North America. Asia is also the fastest-growing market for consumer flexible packaging, with a growth forecast for 2011-16 of 7.9 per cent. The region is forecast to represent 55 per cent of total world flexible packaging consumption growth during the period 2011-16. India and China are the fastest-growing national markets for consumer flexible packaging according to Pira, together accounting for 44 per cent of world flexible packaging consumption growth during the forecast period.

The fastest-growing segment will be barrier flexible packaging, Pira said, which will continue to grow in importance as the major retail chains demand greater product protection and longer shelf life. Pira expects higher-barrier plastics such as BOPET, EVOH and PA, to show the highest growth rates over the forecast period.

Food accounts for almost three-quarters of global consumer flexible packaging markets and consumption in 2011. Meat, fish and poultry is the largest food sector for flexible forecasts packaging, followed by confectionery and baked goods.

For more on the study, click on this link.