Smithers Pinpoints Key Drivers Of Market Growth Smithers Pira has published a research study outlin- ing four of the key trends driving the market for printed food packaging. According to the report, The Future of Printing for Food Packaging to 2023 , in 2018 the global market for printed primary food packaging is $227.2 billion and 79.4 million tons, with a printed area of 394.6 billion square meters.The market is forecast to grow at a compound annual growth rate of around 3.6 per- cent from 2018 to 2023, with the global market reaching a value of $271.3 billion, equating to 95 mil- lion tons and a printed area of 472.4 billion square meters by 2023. A range of both technology- and consumer-related trends will drive this forecast market growth. Four of the key trends identified by Smithers Pira’s research are as follows. Lightweighting The food and packaging industries are, where possi- ble, reducing the weight of packaging — to make cost savings from reductions in material require- ments and lower transportation costs. All packaging materials are affected, particularly the inherently heavier glass and metal packaging formats. Continu- ing developments in the designs of flexible packag- ing pouches are extending their use for a wider range of foods and drinks to replace heavier glass, rigid plastic or metal packaging. Lighter weight PET bottles are increasingly being used for beers and non-alcoholic drinks in place of metal cans and glass bottles.The shift to flexible and rigid plastic packaging for an increased number of food and drink products has gradually eroded metal packaging demand over the last five years, with this trend expected to continue up to 2023. In turn, there are implications for providers of printing inks, and compatibility with food-safe practices. Sustainability Most food packaging is single-use and enters the waste disposal process once the food or drink has been consumed. Packaging materials such as metal cans, glass bottles and paperboard cartons are rela- tively easy to collect and recycle; but there is grow- ing concern around the world about the level of plastic packaging that is going to landfill, for incinera- tion or into the environment. Leading brand owners, retailers and packaging com- panies are taking an active approach to this problem,
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