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The Market

Category : Market information: figures and trends

Published on 15/05/2019

image The Market

The global packaging market was worth US$ 851 billion in 2017, up 2.8% from 2016 at constant prices, according to Smithers Pira, including US$ 52.72 billion for industrial packaging.

It should increase 2.9% p.a., to US$ 876 billion in 2018, US$ 980 billion in 2022, and US$ 1 trillion in 2023. That is slightly later than expected, as the previous forecast was US$ 1 trillion in 2020. By 2028, the additional increase would be $150 billion.

Strictly speaking, each person on earth consumed the equivalent of $115 worth of packaging per year, but in reality, that consumption is unevenly distributed.

Asia was the largest market in 2016, with 42.1% of global consumption, ahead of North America (24.3%) and Western Europe (18.4%). Eastern Europe, South and Central America, the Middle East, and Africa accounted for 15.2%. Asia has the highest growth rate, driven by China and India. China alone should account for nearly 48% of the growth in 2022.

The choice of materials depends on the uses. For example, corrugated cardboard benefits from the e-commerce boom, flexible plastics provide light, eco-friendly options, glass continues to represent luxury and tradition, and metal cans adapt to our on-the-go habits

Source: Smithers Pira All4Pack

the food packaging market was worth US$ 273.9 billion in 2017 and should reach US$ 356.7 billion in 2023 (average annual growth of 4.5%).

8 million tonnes of PET are dumped into the ocean each year. By 2050, the oceans will contain more plastic than fish. As a result, “green” packaging is growing by 5.41% p.a., to US$ 207 billion in 2020.

the main trends that are changing the global packaging market are:
-The growth of renewable, natural, and biodegradable materials;
-The jump in recycling targeting plastics and de-inked paper;
-Packaging optimisation for e-commerce;
-Increasing the connection with consumers, and data that can be used for individualised promotions;
- Digital printing and packaging customisation for promotional campaigns;
- Consumer engagement in the fight against counterfeiting, via smart packaging that guarantees the origin of the products;
- An “open bar” strategy for companies, using packaging, portals, and promises in an ethical pursuit of truth and transparency;
- Packaging that is digitalised and adapted to food products and beverages that are part of a healthy balanced diet;
- The “essentialist” design of labels and packaging, to bridge the gap between not enough and too much information and enable consumers to make informed and confident decisions;
- Adaptation to local specificities.

Source: All4Pack

Smart packaging

According to Deloitte, the smart packaging market reached $25.4 billion in 2015 (6% of the packaging market) and is expected to reach $39.7 billion in 2020.

Smart packaging is divided into three categories:
-Product Lifecycle Management Packaging (Black Chain)
-Packaging that ensures the integrity of the product (freshness chip, traceability, ...)
-Packaging that improve the customer experience (augmented reality, QR code, ...)

Consumers


According to Pro Carton, 61% of respondents aged 19–29 have changed brands due to issues related to packaging, recyclability, and over-packaging.