Packaging growth is hit by healthy eating
The combination of packaging waste reduction campaigns and healthy eating will all contribute to reduced growth for the £35bn global flexible packaging industry, according to PCI Films Consulting.
The sector grew by 5.9% in 2007 but PCI has forecast average annual growth will slow to just 3.2% in the next three years. PCI has blamed the slowdown on several things, mainly packaging waste reduction plans, and, healthy eating campaigns on sectors like snack foods, as well as the global recession.
The negative factors are, however, offset by positive effects including increased demand for flexible packaging from emerging global markets, such as China, increased intake of pre-packed foods, and increases in consumers' disposable income.
By 2013 the reports predicts that Asia will overtake Western Europe in becoming the World's largest consumer of flexible packaging. The report also say that China will account for 10% of global demand in the same timescale.
Also forecasted by PCI is further global consolidation among global players in flexible packaging, driven by mergers and acquisitions.
The reports author, Paul Gaster, explained: "We could be seeing the emergence of an industry experiencing slower growth and in the hands of fewer yet larger multinational consumer flexible packaging organisations."
In August of this year, PCI said that demand for flexible packaging would remain stable in 2010 and begin to pick up by 2011.
