The Accelerating Demand for Plastic Packaging
The demand for plastic packaging is expected to be the greatest in the healthcare sector, where reducing drug fraud, maintaining drug hygiene and retaining the medicinal properties of drugs are high on the agenda.2 Given that global and regional food consumption per capita is expected to rise from 2,940 kcal per day to 3,050 in 2030, plastic packaging is also expected to expand in the food and beverage industry.3 It’s time to unlock Africa’s potential.
On a regional level, Asia Pacific represented the largest market for plastic packaging in 2013, accounting for more than 35 percent of the overall market.4 This trend is expected to continue as estimates predict 40 percent of world economic activity will take place in Asia by 20205 and the region is likely to be home to 3 billion of the world’s middle class.6 The consumption of plastic packaging is also expected to rise in countries with rapid economic development such as Brazil.7
Furthermore, consumer preferences for highly aesthetic, convenient, portable and cheap packaging will play a key role in driving the continued growth of the market.
To meet consumer preferences and the growing global demand for plastic packaging, the industry needs to respond by continuous innovation in new material applications while managing resources efficiently and sustainably.
In order to achieve this, the industry is increasingly collaborating to innovate across the value chain.
IN looked at the five major regions to examine four of the most influential global trends – population growth, urbanization, emerging middle class and aging population – driving the growth of the global plastic packaging market.
|Demographic growth||Urbanization||Emerging middle class||Aging population|
|2012 population estimates8||2050 population projections9||2015 estimated population living in urban centers10||2050 projected population living in urban centers11||2030 Population projected to join or leave the middle class12||2000 estimated population older than 6013||2050 projected population older than 6014|
||1.1bn||2.3bn (+109%)||40.4%||55.9%||+32m in Egypt||5.1%||10.2%|
||4.3bn||5.3bn (+23%)||48.2%||64.2%||+564m in China||8.8%||22.6%|
||740m||732m (-1%)||73.6%||82%||+51m in Russia||20.3%||36.6%|
||599m||740m (+24%)||79.8%||86.2%||+73m in Brazil||8%||22.5%|
|North America||348m||471m (+35%)||81.6%||87.4%||-16m in the USA||16.2%||27.2%|
1 “Explore the Global Plastic Packaging Market that is Expected to Reach US$370.25 billion by 2020”, WhatTech, http://www.whatech.com/market-research-reports/press-release/industrial/45738-explore-the-global-plastic-packaging-market-that-is-expected-to-reach-us-370-25-billion-by-2020
2 “Growth in Food and Beverage Industry Fuels Global Plastic Packaging Market to Reach US$370.2 BN by 2020”, Transparency Market Research, http://www.transparencymarketresearch.com/pressrelease/plastic-packaging.htm
3 World Health Organization, http://www.who.int/nutrition/topics/3_foodconsumption/en
4 “Growth in Food and Beverage Industry Fuels Global Plastic Packaging Market to Reach US$370.2 BN by 2020”, Transparency Market Research
5 5 “Shipping 2020”, DNV, http://www.dnv.nl/binaries/shipping%25202020%2520-%2520final%2520report_tcm141-530559.pdf
6 “The Rise of the Global Middle Class”, BBC, http://www.bbc.com/news/business-22956470
7 Growth in Food and Beverage Industry Fuels Global Plastic Packaging Market to Reach US$370.2 BN by 2020”, Transparency Market Research
8 World Population Data Sheet 2012, Population Reference Bureau, http://www.prb.org/Publications/Datasheets/2012/world-population-data-sheet/world-map.aspx#/map/population
9 World Population Data Sheet 2012, Population Reference Bureau
10 PWE Research Center, United Nations – World Urbanization Prospects 2014
11 PWE Research Center, United Nations – World Urbanization Prospects 2014
12 “The Rising Middle Class”, Switzerland Global Enterprise, http://www.s-ge.com/sites/default/files/BBK_Rising_%2520Middle_Class_Study_2015_20150421_0.pdf
13 United Nations, World Population Aging 2013
14 United Nations, World Population Aging 2013
15 Growth in Food and Beverage Industry Fuels Global Plastic Packaging Market to Reach US$370.2 BN by 2020”, Transparency Market Research