13 emerging markets represent 20% of world demand for flexible packaging
UK • A new study has identified thirteen emerging flexible packaging markets: Poland, Russia, Turkey, Mexico, Brazil, India, Indonesia, Thailand, Vietnam, Saudi Arabia, UAE, Nigeria, and South Africa. Collectively these markets, valued at USD 14 billion, have grown by almost 70% since 2006 and now account for 20% of total world demand.
PCI Films Consulting’s report, “Emerging Flexible Packaging Markets to 2016,” found that although a number of these emerging markets have been affected by the global economic downturn, they have weathered the crisis well, with demand growth averaging almost 11% per annum since 2006, led by India, Indonesia, Brazil and Russia. In general, all emerging markets have illustrated strong growth over the past five years, with only three of the thirteen posting overall growth of less than 30% between 2006 and 2011.
The report identifies the major driving forces in flexible packaging demand including strong GDP growth, high population growth, liberalisation in a number of markets, continued urbanisation, development of mass retailing, changing consumer lifestyles and increasing disposable incomes.