Print Packaging to Grow by 17 Percent
NPES, VDMA release global opportunities report.
NPES and VDMA have teamed with The Economist Intelligence Unit to produce “Worldwide Market for Print 2.0: Global Opportunities in Packaging.” The study predicts global revenue for print packaging will climb from $245 billion in 2016 to $286 billion in 2020, a jump of 17 percent. Seventy-nine percent of this revenue will be concentrated in five markets – the US, China, Japan, Germany, and the UK – but the authors expect emerging nations, particularly in the Asia-Pacific region, to exhibit the fastest growth in coming years.
The report indicates that growth in emerging markets (thanks to rising middle classes, growing incomes, and urbanization) is the driving factor behind the expected growth patterns. The Asia-Pacific region is projected to grow to $130 billion by 2020, with North America reaching $90 billion and Western Europe climbing toward $52 billion.
The authors of the study expect corrugated packaging to be the largest share of the market ($101 billion) in 2020 but to exhibit the slowest growth rate (3.5 percent) over the next four years. Flexible print packaging is likely to grow the fastest at a 5.7-percent average annual rate, reaching $73 billion in 2020.
The full report is available for purchase at npes.org.