FMN | October 3rd, 2016

Packaging Market To Surpass $1 Trillion Mark By 2026 The overall value of the packaging market is set to rise at a Compound Annual Growth Rate of 3.8 per- cent from $806.3 billion in 2016 to $1.162 trillion in 2026, according to market research firm Smithers Pira. Packaging design will play a major part in facili- tating this growth.The report, The Future of Packag- ing Design: Long-Term Strategic Forecasts to 2026 , stated the future of the packaging industry, as any other, will be shaped by general political, economic, social and technological factors. Meanwhile, the spe- cific future of packaging design to 2021 and 2026 is predicted to be determined by supply side techno- logical trends and demand side consumer trends. Factors such as convenience, consumer income, health and wellness, and single-person households on market demand, and on resulting packaging de- sign trends were taken into account when conduct- ing the research. “The political environment will affect the packag- ing industry and packaging design via initiatives, leg- islation and regulation affecting environmental affairs such as sustainability, food packaging labelling and packaging safety,” said Ashley Gange, report author. “Sustainability has become a particularly important

consideration in many areas over the past decade. This is especially true in packaging where it is a major issue since packaging materials are extremely visible to the consumer.This is because packaging as a single-use product faces intense and growing pres- sures from consumers, retailers, suppliers, govern- ments, regulators, NGOs, environmental groups and others for the development of environmentally friendly solutions.” Changing Workforce For the first time the European labor market saw more workers retired than joined in 2010. The im- pact of this trend on the printing industry will be- come more evident with time, as the gap is predicted to widen substantially. In a decade, larger countries including Canada, China and South Korea will have more people at retirement than working age. By end use, greatest actual growth was recorded by food packaging, which increased in value at a CAGR of 3.6 percent from 2010 to 2015. Its share of total packaging value rose by 1.7 percent over this time. The rate of growth in food packaging is forecast at a CAGR of 3.8 percent from 2016 to 2021, resulting in an increase in total share of packaging value of 0.2 percent over this time.

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