China's Plastic Flexible Packaging Supply Capacity Rises, Middle East and Africa Demand Creates Export Opportunities
China's plastic flexible packaging sector keeps strengthening its supply capability, creating more openings for export growth. At the same time, as the domestic consumer market matures, an increasing number of businesses are treating a move toward export markets as a key route to sustainable development. All told, the export outlook for China's plastic flexible packaging industry remains very promising.
A new market analysis report from PCI Films Consulting (PCI) indicates that gradual economic recovery across Middle Eastern and African countries, together with rising domestic investment, has improved conditions in the food processing sector. As a result, flexible packaging demand in these two regions is expected to grow at a rate of 5% over the next five years and beyond.
PCI states that the Middle East and Africa flexible packaging market will be worth USD 4 billion in 2013. As countries in these regions gain economic strength, local demand for food packaging continues to rise. In response, major global flexible packaging multinationals are eyeing the opportunity and preparing to enter Middle Eastern and African markets.
Analysis data show that South Africa, Nigeria, Egypt, and Saudi Arabia are currently the four largest demand markets for flexible packaging in the Middle East and Africa. Together, their annual consumption of flexible packaging products represents more than half of the total.
On the sales side, Nigeria leads the Middle East and Africa market for flexible packaging product sales. Its flexible packaging market demand has grown at 12% over the past five years. Notably, demand is also increasing year by year in smaller countries such as Tanzania and the United Arab Emirates.
This article is reprinted from China Packaging Network (news.pack.cn). Original link: http://news.pack.cn/show-373252.html. Copyright belongs to the original author; this content is for industry exchange and learning only.
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