Page 40 - Print21 Magazine March April 2021

Total Packaging Value
Business Intelligence
ng Value
Packaging in 2014 US$861bn Packaging in 2018 US$891bn
g in 2014 US$861bn
g in 20
40 mpoun
Aussie packaging
Packaging demand across the world reached US$917bn in the last year and is expected to grow
in the coming four years, according to analysis by research agency Smithers.
In Australia, packaging sales at current prices grew during the years 2014 through 2018 from $12.2bn to $13.9bn, an annual average growth rate of 3.4 per
cent. In US dollar terms, packaging sales at current prices declined from US$11bn to US$10.4bn during the same period, an annual average fall of 1.3 per cent.
A reversal of this downward trend is forecast for the next four years. As the region enters the 2020s it will return to growth, at a modest rate of 1.3 per cent. This will push the total value of Australian packaging above US$14bn in 2024 for the first time.
Global consumption of packaging at current prices increased from US$861bn in 2014 to US$891bn in 2018, a compound annual growth rate (CAGR) of 0.9 per cent. Analysis in Smithers’ comprehensive study, The Future of Global Packaging to 2024, forecast market expansion across 2019–24 at a 2.8 per cent CAGR, to reach US$1005bn in 2024.
Asia is the largest market and accounted for 40.6 per cent of world packaging consumption in 2018. North America is in second place with 22.6 per cent of world packaging consumption, ahead of Western Europe with 20.3 per cent.
Sustainability
Sustainability, recycling, over- packaging, and bans on single-use plastic packaging are key issues for suppliers in developed packaging markets. Growing consumer concern over the preservation of
the environment is driving demand for more sustainable packaging, based on renewable resources. The ease with which packaging can be collected and recycled is growing in importance for packaging producers, brand owners and governments.
There is mounting public pressure, now being backed by legislation
like the EU’s Single-use Plastics Directive, to limit the use of plastic formats. In response, brand owners and retail chains are committing
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0
200 400
600 800 1000
1200bn
Packaging in 2024 US$1005bn (estimated)
market set for $ growth
g in 2018 US$891bn
24 USG$LPaO1cBk0AaL0giPn5AgbCKonAmGp(IeoNusGntdiCmAGnanRtueadl )Growth Rate
Packaging CAGR 2014-2018 0.9%
1
0 600 800 1000 1200bn d Annual Growth Rate Packaging CAGR 2019-2024 2.8%
.0
0
1.5
2.0
2.5
3.0%
0 0.5 1.0 1.5 2.0 2.5 3.0%
Packaging CAGR 2014-2018 0.9%
Total Packaging Value
TOTAL GLOBAL PACKAGING VALUE
Packaging Material Share
Other packaging
4.7%
33%
Packaging in 2014 US$861bn Packaging CAGR 2019-2024 2.8%
Glass
Packaging in 2018 US$891bn
Packaging in 2024 US$1005bn (estimat1e8d).7%
Packaging Material Share
5.8% 12.1%
Metal
Paperboard
Rigid plastics
25.5%
200 400
600
800
Flexible packaging
Packaging Compound Annual Growth Rate
1000 1200bn
GLOBAL PACKAGING MATERIAL SHARE
Other packaging
0 0.5
Rigid
25.5%
Glass
Packaging5.C8A%GR 2014-2018 0.9%
4.7% 12.1%
33% Packaging CAGR 2019-2024 2.8%
18.7%
Metal
Paperboard
1.0 1.5 plastics
2.0 2.5 3.0%
Flexible packaging
Packaging Material Share
40 Print21 MARCH/APRIL 2021
Other packaging Glass 4.7%
5.8%
12.1%
Metal
33%
Paperboard
i
n
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