Global packaging market to reach $975 billion by 2018
Global packaging sales are projected to rise by 3% in real terms to $797 billion in 2013 and grow at an annual rate of 4% to 2018, according to a new market report by Smithers Pira (smitherspira.com).
The Future of Global Packaging to 2018 provides a detailed five year forecast of the global packaging market. Based on expert research and analysis, this report contains more than 500 tables and figures revealing essential industry trends and information.
According to this report, sales of packaging are concentrated in Asia, which accounted for 36% of the total in value terms in 2012. North America and Western Europe totaled shares of 23% and 22% respectively. In 2012, Eastern Europe was the fourth largest consumer of packaging with a global share of 6%, closely followed by South and Central America with 5%. The Middle East represents 3% of the global demand for packaging, while Africa and Australasia each have a 2% share. According to the study, this segmentation of the market is expected to change significantly by 2018; Asia is predicted to represent over 40% of global demand, while North America and Western Europe lose out noticeably.