Multifunctionality and innovation in global flexible packaging drive market growth
According to the world-famous
industry consulting firm Pira International's latest research, it is expected that in 2011 global flexible
packaging consumption will amount to $58.3 billion, and will reach $71.3 billion in 2016, a compound annual growth rate of 4.1%. It is expected that global flexible packaging consumption will reach 18.1 million tonnes in 2011 and 22.5 million tonnes in 2016.
In an environment of increasingly fierce competition in the consumer market, new products created by brand owners emerge one after another, and the flexible packaging market has benefited considerably. Because major retailers need longer-lasting and more rigorous product protection, sealed flexible packaging is becoming increasingly important.
According to Adam Page, head of research and consulting at Pira International, flexible packaging is gradually gaining the attention of brand owners because of its wide range of uses, low cost and innovation potential. Likewise, in printing carbon footprint analysis and the environmental impact of packaging, the lightweight packaging format of flexible packaging is an important attribute, and the importance of its characteristics is increasingly prominent.
The flexible packaging market has already become mature in developed countries such as North America and Western Europe and will grow moderately. However, Pira predicts that the flexible packaging market in developing countries will grow more strongly. Asia is the largest regional market, accounting for 29.1% of the global market in 2011, followed by Western Europe and North America with 27% and 20.7% respectively. Asia is also the fastest-growing market for flexible packaging consumption, with an expected CAGR of 7.9% from 2011 to 2016. Among them, China and India are growing the fastest; during this period, the growth of the two countries is expected to account for 44% of the growth in global flexible packaging consumption.
This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-375761.html. All rights belong to the original author; this article is for industry exchange and learning only.
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