Packaging is just going to grow into a bigger business. According to a US research, world demand for food containers is forecast to increase 3.9% per year to USD$124 billion in 2013.
Factors contributing to rising demand include growth in global food output and trends toward convenience-oriented food options as a result of fast-paced lifestyles. Products made from biodegradable materials will post robust advances, albeit from a low base. This is due to increased pressure on packaging producers to reduce their environmental footprint, according to Converting Magazine’s website.
These trends were presented in World Food Containers, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Key markets that will outpace growth for packaging: Asia, Latin America, Eastern Europe and the Africa/Mideast region. Watch out for Brazil, Russia, India and China where growth will be rapid. China alone is expected to account for nearly one-quarter of global value gains in food container demand between 2008 and 2013.
Overall, bags and pouches will remain the largest product type by a wide margin supported by ongoing developments in high-barrier resins and value-added features.
The fastest gains are anticipated for plastic containers, based on improvements in plastic container performance and their price competitiveness, the magazine adds.