Monday, January 30th, 2012
Research firm Pira International says the value of rigid plastic packaging, which is about 21% of the global packaging market, will rise from $144 billion in 2010 to more than $200 billion in 2016, while flexible plastic packaging will grow from $130 billion to more than $163 billion in the same time frame.
A report on the Packaging World website says that Pira’s recently published report, “The Future of Global Packaging to 2016,” forecasts that the total global packaging market will exceed $820 billion by 2016.
Looking at Pira’s expected 2016 market shares by material types shows board packaging maintaining its number one position with more than $250 billion in demand. However, when you combine the rigid plastic and flexible plastic packaging markets, which Pira separates, the combined total of more than $363 billion confirms plastics as the economically dominant packaging material.
Pira notes that metal packaging will be losing market share, especially to rigid plastic, and dropping to 14% of the market by 2016 from its current 15% share. It also expects demand growth for glass containers to slow between now and 2016.
forecasts that the U.S., which was the largest consumer of packaging in 2010 with demand of $137 billion, will be surpassed by China in 2017, and that a leading factor driving a three percent annual growth rate in the overall market is the emerging economies. Increasing personal disposable income, says Pira, will lead to increased consumption in countries such as China, India, Brazil, and some Eastern European states, thereby creating more demand for packaging.
Pira’s report says food and beverage packaging will still be the largest end-use market in 2016, but also notes the value of healthcare packaging growing by 4.5% each year and cosmetics packaging gaining by 4.2% per year.
The full packaging report is available on the Pira website, as is a separate report called “The Future of Global Rigid Plastic Packaging to 2016. The price of each report is discounted by 10% until January 31, 2012.