China is the second-largest packaging market in the world. Fueled by the rapid growth in domestic consumption and consistent growth in GDP, the Chinese packaging industry has grown steadily and achieved rapid growth in its key categories. In 2011, the Chinese packaging industry was estimated to value US$76.0 billion and grew by around 7.2% from 2010. China has replaced Japan in terms of market size and is expected to surpass the US by 2020.
The Chinese government has formulated numerous policies to develop the country's packaging industry in order to sustain industrial growth through subsidies and tax concessions, and investment in equipment, technology and infrastructure to improve and upgrade the packaging industry's capabilities.
The Chinese packaging industry is poised for impressive growth and is expected to record a compound annual growth rate (CAGR) of around 8% during the forecast period to value US$110.1 billion in 2016.
That’s according to a new report, Packaging Industry Outlook in China: Market Size, Key Trends, Drivers, and Challenges to 2016 from ResearchMoz.
The report also notes:
- China emerged from the economic crisis more quickly than the rest of world, bringing capacity back online with the aid of government stimuli.
- The paper and board packaging category currently accounts for the largest share in the overall packaging industry, valued at US$33.91 billion in 2011.
- PET packaging accounts for the largest share of China's non-alcoholic beverage market.
Containers & Packaging in JapanA report from Research and Markets, Containers & Packaging in Japan, offers the following highlights for non-transportation packaging made of paper, plastic, metal and glass. The market is valued at manufacturers' selling prices (MSP), while market volumes represent consumption.
The Japanese containers & packaging market had total revenue of $43,032.8 million in 2010, representing a compound annual rate of change (CARC) of -2.7% between 2006 and 2010.
Market consumption volumes stagnated between 2006-2010, to remain at 21.2 million units (2010).
The performance of the market is forecast to accelerate, with an anticipated compound annual growth rate (CAGR) of 1.4% for the five-year period 2010-2015, which is expected to drive the market to a value of $46,217.3 million by the end of 2015.