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FLEXO Magazine : January 2014
INDUSTRY INDICATORS Packaging Projections Regional, Global Predictions Through 2018 Growth, growth and more growth, followed by some growth and finally, growth. That’s the forecast for the global packaging market in the next five years, ac - cording to Smithers Pira’s The Future of Global Packaging to 2018. Specifically, the market will expand at an annual growth rate of 4 percent and be valued at just shy of $1 trillion, adding nearly $200 billion to its total value estimated in 2013. North America represents 23 percent of packaging de- mand and will continue to command a strong share of the market through 2018, as will Western Europe, with 22 percent. In economically developed markets, a number of key social and market trends have been having a major impact on de- velopments in packaging over recent years. These include: • The trends towards smaller households • An accompanying rise in demand for more, smaller pack sizes • The increasing requirement for convenience among consumers • The growing number of men interested in health and beauty products The report sees food and beverage packaging growing by 3.4 percent and 3.3 percent annually, respectively, to $284 billion and $102 billion by 2018. North America and Western Europe are followed by East- ern Europe, with 6 percent, South and Central America with 5 percent, the Middle East, with 3 percent and Africa and Aus- tralasia, each at 2 percent. Smithers Pira predicts Asia will see growth over the period, ending with more than 40 percent of the total market demand. A number of reasons are cited in the report as driving this growth. Among them: • Technical developments • Cost per package • Sustainability initiatives • Consumer class growth in Asia-Pacific, South America, Central America and Eastern Europe Further, countries such as Russia, China, India and Brazil are seeing gains thanks to growing urbanization, increased investment in housing and construction, retail chain devel- opment and improvements in the health care and cosmetic industries. As quality of life and living standards improve in these countries, the increased disposable income is being used on packaged goods. For more information on The Future of Global Packaging to 2018 and to obtain a copy, visit www.smitherspira.com. n THE FORECAST • Market will expand at an annual growth rate of 4 percent • Value will approximate $1 trillion in 2018 • North America will command a strong share, currently 23 percent • Food and beverage demand exceeds 40 percent World Packaging Consumption by Region, 2012 vs. 2018, in billions of dollars Source: Smithers Pira 37% 23% 22% 6% 5% 3% 2%2% World Packaging Consumption by Region, 2012 Asia North America Western Europe Eastern Europe South, Central America Middle East Africa Australia 41% 21% 19% 6% 5% 3%3%2% World Packaging Consumption by Region, 2018 Asia North America Western Europe Eastern Europe South, Central America Middle East Africa Australia 8 FLEXO JANUARY 2014 www.flexography.org PRESSING ISSUES