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| Demand for rigid plastic packaging like PET bottles is expected to be a stimulant of packaging consumption (Image source: Amcor) |
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Business intelligence company Pira International predicts in a new market forecast, Future of Global Packaging Market and Technology Forecasts to 2016, that the global packaging industry will swell to almost US$820 billion by 2016.
Driven mainly by increasing demand for packaging in emerging and transitional economies, a 3% per annum growth rate will focus on board products and rigid plastics, with US$40 billion and US$33 billion in cumulative predicted growth respectively to 2016, according to the report.
This growth is said to be being driven by a number of broad trends such as growing urbanization, investment in housing and construction, a burgeoning healthcare sector and the rapid development still evident in emerging economies including China, India, Brazil and some eastern European countries. An increase in personal disposable income in the developing regions fuels consumption across a broad range of products, with consequential growth in demand for the packaging of these goods, the report points out. For instance, increased demand for white goods, like washing machines and dishwashers, driven also by growing time pressure on consumer lifestyles, leads not just to a growing demand for packaging for the machines themselves, but also for associated products such as the household care products needed to operate these machines, thus stimulating demand across a range of packaging media.
Robust growth in demand for rigid plastic packaging
More specifically, robust growth in demand for rigid plastic packaging, especially in sectors like drinks, cosmetics, toiletries, and household and personal care products, is stimulating packaging consumption. Similarly, flexible plastic packaging materials are receiving a boost from sectors like perishable foods, healthcare, convenience foods and various industrial markets. Corrugated board consumption is being egged on by the processed food sector and a number of non-food applications including personal and household care, chemicals, electrical goods and others. At the same time, folding carton consumption is benefiting from the growth found in healthcare products, electrical goods, and frozen and chilled foods, among others.
According to the Pira report, the US was the largest consumer for packaging in 2010 with a demand of US$137 billion; China was close behind at US$80 billion. China is anticipated to surpass the US by 2017, and India will enter the top 10 packaging countries with its demand set to almost double in the next five years to US$24 billion.
Technological developments in packaging are seeing an upswing in the consumption of bio-polymers in both rigid and flexible applications, improved value adding in products with functional and barrier coatings, as well as enhanced graphics, resource reduction by way of continuous lightweighting across all materials, and other developments.
Global packaging sales by type 2010 vs 2016 (Source: Pira International) |
Board products account for the biggest sector of the packaging market, totaling some US$210 billion in 2010 and maintaining their leading position into 2016 when the sector will be worth US$40 billion more at nearly US$250 billion.
Rigid plastic is the second largest slice of the whole, at over 21% or US$144 billion in 2010, expanding to over US$200 billion by 2016, while the flexible packaging market will increase from US$130 billion in 2010 to over US$163 billion by 2016.
The consumption of metal packaging represented over 15% of the 2010 market but will be losing market share to competing products, especially rigid plastic, to enjoy only 14% of the 2016 market, while demand for glass containers is also anticipated to slow down over the medium term, increasing from some US$45 billion in 2010 to around US$53 billion by 2016.
The paper also expected food and healthcare packaging will continue to be the biggest end uses in global packaging, with the food and drinks industry growing by almost US$43 billion combined to 2016. The study shows that health care packs will grow 4.5% each year to reach a total of US$34 billion. Cosmetics packaging should grow 4.2% per year to reach US$24 billion.
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