Friday, February 23, 2018

Growing Awareness

ONLINE EXCLUSIVE

      by Greg Kishbaugh

     A number of trends promise to drive the global packaging industry forward in the coming months. According to the Global Packaging Trends Report for 2015, sponsored by the Australian Packaging & Processing Machinery Association (APPMA), three prime trends are influencing every region: growing consumer awareness of health and wellness, stronger influence of recycling and environmental issues, and increasing disposable income and purchasing power. 


     Increased urbanization, convenience, smaller pack sizes, branding strategies, Internet retailing, and premiumisation — the demand for better and more expensive variants — are regional trends that are gaining traction.
     “These trends are affecting packaging because they’re driving consumers’ purchasing choices,” said Mark Dingley, Chairman, APPMA. “Recyclability and reusability of packaging are dominant trends and the report is predicting that this will continue.”
     Predictions for the Middle East and Africa markets are very strong with 5.3 percent Compound Annual Growth Rate  in volume anticipated. Forecasts for Western Europe and North America are not as robust, coming in at 0.4 percent and 0.5 percent, respectively.
Growth in Asia Pacific is predicted to be strong, as well, at 4.3 percent CAGR.
     Despite being a mature market, North America will see many opportunities as consumers develop increased interest in sustainable products.
     Globally, flexible plastic accounts for 29 percent of the market. PET bottles accounts for 12 percent of the market but is expected to be among the fastest growing, with 4.7 percent CAGR. Bottled water is expected to add 135 billion units through 2019, accounting for 54 percent of the absolute volume growth in PET bottle use.

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