Did you know processed food currently forms the single largest segment for end-use corrugated board packaging, encompassing a quarter of all consumption? Yet, fresh food and produce represents 9% of corrugated board packaging and beverages only 7%. Non-food products, however, still compose the absolute majority, providing relatively flexible opportunities in all sectors of the market. Smithers Pira predicts packaging for electrical goods and personal and household care products to be the richest sectors for growth, again connected to trends in urbanization. Corrugated board box   That being said, the market prediction to 2017 calls for the current $52 billion market to swell by $15 million to $67 billion over the next 5 years. Packaging for chilled takeaway and ready-cooked foods is set to be primary factor for growth in the market, with Smiras Pira idetifying the rising demand for convenience as a key propellant. It is increasingly clear that the ever-accelerating momentum of urban life is generating a need for time and effort saving solutions falling within the corrugated board packaging market’s remits.  
The balance of consumption is likely to shift even further towards economically developing regions such as China, India, Brazil and Eastern Europe, indicative of the increasing urbanization and growing consumer markets. Already the largest containerboard market, Asia is set to dominate with over half of corrugated board consumption in the next 5 years. China will be accountable for 70% of the net rise in containerboard production. Conversely the North American and western European markets are both likely to shrink in relative importance, each containing by around 3% by 2017, according to Smithers Pira’s projections.   Source: Smithers Pira   Dave Lewis IPC Executive Vice President

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *