Global Trends
Check out the latest blog posts for what’s happening in the global packaging and processing industry.
Check out the latest blog posts for what’s happening in the global packaging and processing industry.
With a total market size of 1,431.5 billion units sold, the Asia Pacific region is a significant player in the packaging industry – and that size is expected to reach 1,724 billion by 2020. There is higher demand for extremely large and small packages due to the desire for “more bang for your buck” and a rise in travel or outdoor activities, respectively. While glass bottles are 16 percent, flexible plastic makes up 22 percent of the packaging materials, and PET bottles are on the rise. Keep an eye out for shifts – the forecasted CAGR (2015-2020) is 3.8 percent.
The Office of the United States Trade Representative (USTR) announced a list of products imported from China that will be subject to an additional tariff of 25 percent starting July 6, 2018. Some packaging and processing machinery and parts coming into the U.S. from China will be subject to this change.
The demographic trends over the coming decades through 2050 indicate that the global population will be older and more urbanized, according to Food and Drink Megatrends to 2050: Convenience and Healthification for an Aging, Urban Population, a recent Industry Trend Analysis by BMI Research.
Asia Pacific was the largest market for packaging machinery at 36.3 percent ($13.4 billion) of global revenues in 2016. This market is forecast to grow at a compound annual growth rate (CAGR) of 3.0 percent to $15.5 billion in 2021.
Filling and dosing machinery (20.7 percent/$7.6 billion of the total market) and labelling, decorating and coding machinery (12.6 percent/$4.6 billion of the total market) are estimated to have been the two largest packaging machinery markets in 2016.
