Market Value Estimations for Packaging in 2018 and Beyond
A high level overview of the global packaging market including market value estimations and the top ten disruptive trends.
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.