Latest Trends in Packaging
Based on statistics taken from Global Packaging Trends (released in 2015 by Euromonitor International) it seems there are 3 main worldwide trends affecting the packaging market. They are increased consumer awareness of health and wellness; the increased influence of recycling and environmental issues and increasing disposable income and purchasing power.
Health and Wellness:
At one end of the scale we have a forecast volume decline in cigarette packaging due to most likely the result in a growing health and wellness trend. At the other end of the scale ready to drink bottled water, yoghurt and sour milk drinks and juice have experienced large growth. These three categories across the globe have had greater than 5% growth, largely being led by bottled water by forecast volume growth across three regions - Asia Pacific, Western Europe and North America. It is interesting to note that the Asia Pacific region maintains a 46% volume share of this market as well as having the most significant growth in health categories. Whilst cigarettes are the largest category by volume it is expected they will be surpased by bottled water and beer in total volume by 2019.
Recycling and Environmental Issues:
As beverage packaging drives the trend in PET and glass it is the recyclability and reusability of packaging that continues to trend into 2016 and this will become large purchasing factors for global consumers.
Increasing Disposable Income:
With an increasing disposable income due to the growth of the middle class in many regions around the world, especially Asia Pacific and Latin America there are many more consumers purchasing packaged goods from modern retail locations. This is expected to translate into volume growth in flexible plastic as well as non-traditional pack types such as pouches. Other areas of growth that tend to be more regionalised are more convenient packaging such as smaller pack sizes. However, globally it is flexible plastic that remains the dominant pack type.
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