Page 11 - Packaging News Magazine May-June 2020

May-June 2020 | www.packagingnews.com.au
| INDUSTRY INSIGHT 11
driving sales of barrier packaging films. Many different end-use sectors are adopt- ing multilayer flexible packaging solu- tions, including metallised film. Retort foods and pharmaceuticals packaging are growing markets for PET-based transpar- ent deposition films, while high-barrier films are used in case-ready and modified atmosphere packaging.
END-USE APPLICATIONS
Industrial/transit is the largest packaging market and accounted for 43.3 per cent of world packaging consumption in 2018. Corrugated boxes accounts for a large
share of global transit packaging con- sumption, and this will strengthen over the next five years due to wider use of e-commerce selling channels. In indus- trial shipping there will be a rise in the use of intermediate bulk containers, and to a lesser extent plastic and steel drums.
Food packaging accounted for 28.4 per cent of packaging demand in 2018 but will see slightly slower growth moving for- ward. Lifestyle factors are being felt in the food segment, with consumer demand for health and wellness products, urbanisa- tion, and busier lifestyles, and the con- tinuing rise in single-parent and
While food packaging accounted for
28.4 per cent of demand in 2018, it’s expected to show slower growth moving forward.
single-person households. These create a growing demand for convenience prod- ucts and packaging, for more portable packaging and smaller pack sizes.
In developing markets domestic super- markets/hypermarkets are spreading to many major cities to take a growing share of food and drink consumption, displac- ing traditional local and independent mar- kets. International retail chains are also expanding their presence in developing regions, bringing more consumers into contact with Western shopping and food consumption habits.
Healthcare packaging consumption is forecast to grow at the fastest rate, just ahead of cosmetics. This is driven by age- ing populations, and the resultant increase in demand for a wide range of drugs. There is also a growing health awareness among consumers, leading to higher demand for over-the-counter medication, vitamins and dietary supplements.
The impact of evolution in demand and the future growth in the packaging market are analysed in the Future of Global Packaging to 2024. This is quantified in the detailed dataset with more than 700 data tables and figures, giving current and future growth outlooks for nearly fifty countries worldwide. The full report can be found at www.smithers.com/en-gb/ser- vices/market-reports/packaging/future-
of-global-packaging-to-2024. ■
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