Booming global demand will drive expansion in the world packaging market across the next five years according to the latest analysis from Smithers Pira.
In its flagship report The Future of Global Packaging to 2020, Smithers Pira data charts how a market value forecast at $839 billion (€768billion) in 2015, will undergo healthy year-on-year growth at 3.5%, reaching $998 million in 2020.
Expansion will not be uniform however. Emerging countries will expand beyond the market average, creating new opportunities for material suppliers and converters. Simultaneously more established regions are undergoing significant business and demographic changes that will transform value chains in the packaging segment.
In generating its data on global packaging growth Smithers Pira identified and analysed the differing impact such trends will have on key packaging segment. The outlook for these across the study period is summarised here.
