CLEVELAND (Aug. 15, 11:45 a.m. ET) — Worldwide demand for rigid packaging will increase 6.4 percent per year to boost the market to $472 billion by 2016, according to a report from Freedonia Group Inc.
According to the report, “World Rigid Packaging to 2016,” the world's developing regions will show the greatest increases with China alone accounting for 46 percent of global value gains in rigid packaging demand between 2011 and 2016.
India and Indonesia will also show some of the highest growth rates while Brazil, Turkey, Russia and Mexico will register healthy gains.
Plastic will continue to account for the largest share of total demand and will also see the fastest increases, as plastic containers gain market share at the expense of metal, paperboard, and glass packaging in many applications, says the report.
Plastics provide several advantages over the alternatives, including shatter resistance, resealability, design flexibility and often, better barrier properties.
In terms of application, the largest market for rigid packaging is food and beverages, which represents 64 percent of the total.
In 2011, the total market was worth $345 billion. Asia Pacific accounted for 40 percent of the total market, followed by North America (24 percent), Western Europe (21 percent), Central and South America (7 percent), Eastern Europe (6 percent) and Africa and the Middle East (3 percent).