Pira Report: Global Flexible Packaging Market to Reach $71.3 Billion by 2016, Asia to Drive 55% of Growth
Pira’s latest survey report values the global flexible packaging market at USD 58.3 billion in 2011. Over the next five years, the market is expected to grow at a 4.1% CAGR, reaching USD 71.3 billion by 2016. In terms of consumption, volume was about 18.1 million tonnes in 2011 and is forecast to reach 22.5 million tonnes by 2016.
Asia remains the world’s largest flexible packaging market. In 2011, Asia accounted for 29.1% of global flexible packaging consumption. It is also the fastest-growing region for flexible packaging consumption, with an expected CAGR of 7.9%. Between 2011 and 2016, Asia’s additional flexible packaging consumption is projected to represent 55% of total growth in the global flexible packaging market. India and China are expected to be the fastest-growing countries, together accounting for 44% of the global market’s total incremental volume during that period.
In end-use markets, food accounted for 75% of global flexible packaging consumption in 2011. Meat, fish and poultry represented the largest application, followed by candy and baked goods. Non-food sectors—such as pet food, tobacco products, cosmetics, personal care products, household detergents and medical products—also consume significant flexible packaging volumes.
Source: China Packaging Network (news.pack.cn). Original link: http://news.pack.cn/show-375636.html. Copyright belongs to the original author; this article is shared for industry exchange and learning only.
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