Protective packaging looks to be a high-growth market in the coming years, according to a new study by Freedonia Group Inc.
The Cleveland-based market research firm forecasts that protective packaging will be nearly a $27 billion industry around the world in 2018, up from almost $20 billion last year.
Sales are predicted to grow by an average of 6.1 percent annually between now and 2018, Freedonia said.
The study, “World Protective Packaging,” indicates the 2014-2018 time frame will compare favorably to 2008-2013, “when demand lagged in many of the largest protective packaging markets.”
Asia, Africa, the Middle East and Eastern Europe all are expected to achieve above average growth, with North America and Western Europe seeing below average growth, Freedonia said.
More information about the report, which is 441 pages and costs $6,300, is available at www.freedoniagroup.com.
