Packaging Industry Enjoys Accelerated Growth in Emerging Countries

                        

The demand for packaging has grown at a fast pace in recent decades. According to a recent analysis by Smithers Pira, U.K., the sales revenue of the packaging market has received sustainable growth since 2010, from $670 billion to an expected value of $820 billion in 2016 and it will undergo year-on-year growth by reaching $950 billion in 2018. 

Meanwhile, from the market research conducted by Allied Market Research, the food packaging market is also forecasted to bring in revenue of $3.03 trillion by 2020, implying that the global market demand for packaging will enjoy a significant growth across the next five to ten years. With increasing social affluence and population, emerging markets and developing countries have gradually become a strong driving force to boost the growth of packaging industry.

 

In 2015, China was the largest regional market for packaging equipment consumption and the second largest market for packaging materials. The total sales revenue of packaging materials in China is estimated to reach RMB$4.4 billion in 2016. A growth in demand has fueled the market for the latest packaging technology and safest packaging materials in China. 

To address the market needs, the 24th China International Exhibition on Packaging Machinery & Materials (Sino-Pack 2017) and China (Guangzhou) International Exhibition on Packaging Products (PACKINNO 2017) will be held during 1-3 March 2017 at Area B, China Import and Export Fair Complex, Guangzhou, PR China. More information about Sino-Pack 2017 and PACKINNO 2017is available online.