The global packaging market is set to reach over $1 trillion by 2021, according to a Smithers Pira study. Much of this growth is arising from developing regions such as the Middle East, North Africa and parts South America, at an annual growth rate of 5–7% until the end of the decade.
Assuming a global population of 7.50 billion people in 2016, each individual consumes, on average, $115 of packaging per year.
The top 10 disruptive trends that are changing the packaging market landscape are:
- Greater connectivity with consumers - Big Data trend to deliver individualised promotions
- Premiumisation via packaging
- Improving recyclability – especially for plastics and de-inking paper substrates
- Optimizing packs for ecommerce
- Adjusting to dimension weighting
- The rise of sustainable materials
- Greater customisation of packs for promotional campaigns
- Design for optimal instore location
- Globalisation - Need for packaging from global brands to adapt to multiple local preferences
- Engaging consumers in anti-counterfeiting - increased use of smart devices to enable consumers to verify products bought by them.
The Future of Global Packaging to 2022 gives an unparalleled level of detail on current and future demand for packaging across the world, tracking and quantifying key converter, brand and consumer trends. For more information, download the brochure here.
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