Packaging grows fastest in Asia-Pacific region
NPES The Association for Suppliers of Printing, Publishing and Converting Technologies and the VDMA, the Mechanical Engineering Industry Association of Germany (Verband Deutscher Maschinen- und Anlagenbau) have released the joint comprehensive study, “Worldwide Market for Print 2.0: Global Opportunities in Packaging.”
According to the study, total world packaging revenues grew from $231 billion ($U.S.) in 2011 to $242 billion in 2015, and between 2015 and 2020 print packaging global revenues are projected to grow by 18% or $44 billion to $286 billion in 2020. Notably in 2015, 78% of total global print packaging revenues was concentrated in the top five markets comprised of the US, China, Japan, Germany and the U.K., however, the largest share and fastest pace of future growth will be recognized in emerging nations, primarily in the Asia-Pacific region.
The accelerated growth of emerging markets remains the dominant trend and driving force behind the print packaging industry outlook, due to rising middle classes, and fast growing incomes and urbanization. Regionally, Asia-Pacific is the largest market projected to grow to $130 billion by 2020, compared to N America projected to reach $90 billion and Western Europe to $52 billion.
All subcategories of print packaging will grow at rates of 3-5% CAGR, with corrugated print packaging enjoying the highest share of the global packaging market at $101 billion in 2020, though demonstrating the slowest rate of growth at 3.5% in 2016-2020. Flexible print packaging will be the fastest growing segment at 5.7% average annual pace to post revenues of $73 billion in 2020. Specific country markets across developed and emerging economies will experience varying rates of growth, in all subcategories, to also include folding cartons, labels and tags, and other segments such as direct print on metal and rigid plastics.