Consumer trends are impacting packaging markets around the world, according to "Global Packaging Trends," a new report from PMMI, The Association for Packaging and Processing Technologies.
The report shows three influencers making a mark in every region: growing awareness of health and wellness, recycling and environmental issues, and increasing disposable income and purchasing power.
"These trends are affecting packaging because they're driving consumers' purchasing choices," says Jorge Izquierdo, vice president, Market Development, PMMI. "Recyclability and reusability of packaging are dominant trends and we're predicting that will continue to be seen as PET and glass bottle usage increases."
Packaging markets in the Middle East and Africa are anticipating 5.3 percent CAGR growth in volume, but forecasts for Western Europe and North America land at the other end of the spectrum, with 0.4 percent and 0.5 percent, respectively.
The expansion in the Middle East and Africa is the result of increasing exposure to modern lifestyles, and is manifesting in growth opportunities available for packaging of carbonates, biscuits, and yogurt and sour milk products. In Asia Pacific, forecast for 4.3 percent CAGR increases in volume, the increasing demand for PET bottles, particularly in the bottled water category, supports health and wellness concerns.
North America, on the other hand, is a mature market, but consumers are developing growing interest in several categories. These include healthy categories such as bottled water, and areas of innovation, such as confectionery.
Globally, the report notes flexible plastic remains the dominant pack type, accounting for 29 percent of the market, while PET bottles (12 percent of the market) will 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. While beverage packaging drives growth in PET and glass, categories such as confectionery and biscuits prop up flexible packaging use.
PMMI, owner and producer of the PACK EXPO portfolio of trade shows, released the results of the study this morning at PACK EXPO Las Vegas and Pharma EXPO 2015. With over 2,000 exhibitors in more than 800,000 net square feet of exhibit space, the co-located shows are welcoming 30,000 attendees to the Las Vegas Convention Center this week. To learn more, download the Executive Summary of this report at PMMI.org/research. An infographic is available as well.
PMMI, The Association for Packaging and Processing Technologies, represents the voice of more than 700 North American manufacturers of equipment, components and materials for processing and packaging. We work to advance a variety of industries by connecting consumer goods companies with manufacturing solutions through the world class PACK EXPO portfolio of trade shows, leading trade media and a wide range of resources to empower our members. The PACK EXPO trade shows unite the world of processing and packaging to advance the industries they serve: PACK EXPO International, PACK EXPO Las Vegas, Pharma EXPO, PACK EXPO East, EXPO PACK México, EXPO PACK Guadalajara and ProFood Tech, launching in April 2017. PMMI Media Group connects manufacturers to the latest solutions, trends and innovations in processing and packaging year-round through brands including Packaging World, Automation World, Healthcare Packaging, Contract Packaging and Packaging + Processing OEM. PMMI Business Drivers assist members in pursuing operational excellence through workforce development initiatives, deliver actionable business intelligence on economic, market and industry trends to support members’ growth strategies, and actively connect the supply chain throughout the year. Learn more at PACKEXPO.com, PMMIMediaGroup.com and PMMI.org.