Las Vegas — Recycling and environmental issues, a growing awareness of health and wellness and increasing consumer purchasing power, are trends impacting packaging markets worldwide, according to a new study from the Packaging Machinery Manufacturers Institute.
Reston, Va.-based PMMI unveiled the new findings Sept. 28 at Pack Expo in Las Vegas.
“These trends are affecting packaging because they're driving consumers' purchasing choices,” said Jorge Izquierdo, vice president of market development at PMMI, in a statement. “Recyclability and reusability of packaging are dominant trends and we're predicting that will continue to be seen as PET and glass bottle usage increases.”
The Global Packaging Trends report also indicates anticipated 5.3 percent growth in volume for the Middle East and Africa, but only 0.4 percent growth in Western Europe and 0.5 percent growth in North America.
The trade group, which runs Pack Expo, also reported that the flexible packaging industry is expected to reach $32.7 billion in value this year.
The 2015 Flexible Packaging Market Assessment Report interviewed end users, material suppliers and industry experts to determine the value.
More than two-thirds of the end users who were interviewed plan to purchase new equipment, buy used equipment or modify existing equipment to handle flexible packaging.
A third of the respondents said they expect to increase flexible packaging at the expense of rigid packaging during the next five years. But another 61 percent expect the flexible-to-rigid ratio to remain the same.
Food products are the biggest user of flexible packaging, accounting for 57 percent of the total usage, PMMI reported.