CorrExpo Early Bird (CONT’D FROM PAGE 20)
ery is expected in later years. Key Findings include: • Depending on the scenario, US packaging consump- tion in 2030 could range from $255.4 billion to $279.6 billion, a swing of over $24 billion driven by tariff-relat- ed uncertainty; • Segments such as rigid plastics and flexible packag- ing, which are heavily reliant on imports, are expected to face the sharpest cost increases, although demand remains resilient due to their essential role in food and healthcare; • Despite economic pressures, healthcare packaging is forecast to grow at 3.1 percent CAGR in the US, while cosmetics packaging benefits from the ‘lipstick effect,’ with consumers maintaining spending on small luxuries • Brands and converters are increasingly adopting a ‘Plus One’ strategy, diversifying their sourcing beyond China to mitigate future trade risks, with Southeast Asia and Latin America emerging as key alternatives. Smithers built three robust scenarios (baseline, pessi- mistic and optimistic) to assess the impact of tariffs on key packaging materials, end-use markets and geographies. Primary and secondary research was built on top of the Smithers in-house database to develop the data for each key scenario. Every step was assessed by the Smithers team of packaging subject matter experts. The core eco- nomic assumptions utilised IMF and USITC data. To find out more about Impact of Tariffs on Packaging white paper, contact Bill Allen at ballen@smithers.com.
and social plans are underway including the Corrugated Classic Golf Tournament set against the backdrop of Geor- gia’s low country on October 20. To register, visit CorrExpo.org for the latest updates. Book your hotel accommodations early and take a look at the Experience Savannah list for inspiration on how to make your CorrExpo experience memorable. Get these early-bird rates on or before September 27. Smithers: Tariffs To Reshape $1.5T Global Packaging Market By 2030 US tariff policies could reshape the global packaging in- dustry, with potential impacts reaching into the tens of bil- lions of dollars, according to a new “Impact of Tariffs on Packaging” white paper from Smithers. The paper projects global packaging demand will reach $1.52 trillion by 2030, but warns that growth could slow by up to 0.5 percent un- der pessimistic scenarios. Global packaging demand is set to hit $1.52 tn by 2030, with growth rates of 3.8 percent in the Smithers baseline scenario; it may rise to 3.9 percent in the optimistic scenar- io or drop to 3.3 percent in the pessimistic scenario. Tariffs are expected to impact US economic growth more than the global market in the short term, but a recov-
AMERICAN-MADE. IN STOCK. READY TO SHIP. Provident doctor blades are c u stom-engineered and ready to ship from Appleton, Wisconsin. � Steel Blades Premium Swedish steel for precision metering. � Nano-Treated Blades 6-1 Ox longer lifespan, less downtime. � Coated Blades Low-friction for extended life & quality. � Synthetic & Plastic Blades Superior ink control & safety.
No delays. MADE No downtime. =IN THE= Just quality blades. *USA• providentblades.com
22
www.boardconvertingnews.com
July 21, 2025
Made with FlippingBook Annual report maker