02 Mar 2016
The Future of Packaging
Over the last decade, the packaging market in Asia which consists mainly of packaging made of paper, plastic, metal, glass, and related packing materials, has become increasingly sophisticated.
In the years ahead
- Driven by consumer demand, material advances and legislation, sustainability is becoming one of the most important aspects of packaging. Asia will be the largest market in this sustainable packaging, accounting for 32% of the overall market.
- Flexible packaging has become popular across a wide variety of consumer products, increasingly replacing metal cans, glass and rigid plastic bottles, and cartons. Global consumption is forecast to grow 3.5% annually over the next five years, reaching $231 billion.
- The personal care industry, including fashion, health and environmental legislation, is spreading both geographically and in value. The global personal care packaging market is growing 4.9% a year, and is forecast to reach $28.2 billion.
- The market for digital printed packaging and labels continues to expand rapidly, doubling to $14.4 billion.
- Globally, the luxury packaging market continues to grow, driven by exciting trends – the surge of personalised packaging, attention to sustainability issues, economic and demographic drivers. The market is forecast to grow, on average, by 4.4% in value terms and by 3.1% in terms of volume.
- Global consumption of folding carton packaging increased by nearly 5% in 2015 and is forecast to reach a total volume of some 47 million tonnes by 2020.
- The global market for packaging is forecast to reach $1.1 trillion, growing at an average rate of 3.4% over the next decade.
The global packaging industry is undergoing a period of rapid change and progress. It is time to discover new solutions to generate leads and new businesses.
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