Expects further print revenue growth.
NPES and VDMA, the Mechanical Industry Association of Germany, have released the “Worldwide Market for Print 2.0: Global Opportunities in Packaging” study. The two companies partnered with The Economist Intelligence Unit to research and analyze the global print packaging market within 26 countries, which account for 80 percent of global GDP and 70 percent of the world population.
Key takeaways include:
• Between 2011 and 2016, total world packaging revenues grew from $231 billion to $245 billion.
• Revenue is projected to grow by 17 percent ($41 billion) to a total of $286 billion by 2020.
• In 2016, the top five markets (US, China, Japan, Germany, and the United Kingdom) comprised 79 percent of global print packaging revenues. However, the report indicates emerging nations – particularly in the Asia-Pacific region – will exhibit the largest share and quickest pace of future growth.
• By 2020, the market in North America is expected to reach $90 billion, while the Western European market is projected to reach $52 billion.
• The dominant trend and driving force behind the industry’s optimistic outlook is the accelerated growth of emerging markets due to rising middle classes, fast-growing incomes, and the rise in urbanization.
• Corrugated packaging, the highest share of the market projected to reach $101 billion by 2020, is forecasted to exhibit the slowest rate of growth between 2016 and 2020 at 3.5 percent.
• Flexible print packaging is expected to be the fastest growing segment at a 5.7 percent average annual pace, with anticipated revenues of $73 billion by 2020.
The full report can be purchased here.