The global packaging market is expected to reach $820 billion by 2016, according to “The Future of Global Packaging to 2016,” from Pira Intl.
Driven mainly by increasing demand for packaging in emerging and transitional economies, a 3% annual growth rate will focus on board products and rigid plastics, with $40 billion and $33 billion in cumulative predicted growth respectively to 2016.
Pira says growth will be driven by trends such as growing urbanization, investment in housing and construction, a burgeoning healthcare sector, and the rapid development still evident in the 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.
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.