Food and beverage demand pushes growth of packaging divider market
According to the latest market study released by Technavio (technavio.com), the global packaging divider market is expected to grow at a CAGR of close to 6% during the forecast period. Food and beverage accounted for close to 33% of total market in 2016, while pharmaceuticals held 27% market share and automotive took 18%.
The report "Global Packaging Divider Market 2017-2021" provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up to date analysis and forecasts for various market segments and all geographical regions.
Global packaging divider market by food and beverages
The global packaging divider market by food and beverages accounted for close to 33% of the total market share in 2016. Packaging dividers are used for packaging various food items such as confectionery items, besides being used for packaging beverages, especially beverages such as wines or spirits, that are made of glass and require extra care during the transportation and handling. Packaging dividers are used to package two or more wine or spirits bottle together so that the bottles do not collide with each other during transportation and handling. This reduces the chances of breakage.
According to Shakti Jakhar, a lead analyst at Technavio for packaging research, “The rise in the number of people shifting to packaged food and beverage products will boost the sales in the global packaging dividers market. Factors such as busy lifestyles that prevent people from cooking at home coupled with the easy availability of packaged foods in a nearby store are increasing the market for convenience foods such as refrigerated appetizers that, thereby, increasing the packaged food market.”
Global packaging divider market by pharmaceutical
In 2016, the global packaging divider market by pharmaceutical occupied close to 27% of the total market share. In pharmaceutical packaging, various medicinal bottles, vials, and test tubes require packaging dividers because most of these bottles or vials are made up of glass as glass is chemically inert and doesn’t deteriorate with time. It is estimated that the pharmaceutical industry will grow during the forecast period, due to the increased spending on healthcare by people.
“The increasing spending on outpatient and long-term care will drive the growth of the packaging dividers in this market segment. The aging population is one of the primary reasons for the growing pharmaceutical spending. The global pharmaceutical packaging market is also expected to generate around USD 93 billion by 2021,” says Shakti.
Global packaging divider market by automotive
The global packaging divider market by automotive accounted for more than 18% of the total market share in 2016. In the automotive segment, packaging dividers are used to protect two or more automotive parts such as headlamps, mirrors, and chrome parts from hitting each other and causing damage during the transportation and handling. The global number of vehicles on the road is expected to increase during the forecast period due to rise in the middle-class.