Rexam's 2011/12 consumer packaging report finds global market value of consumer packaging returning to pre-recession levels, reaching US$395B in 2010, up 6% year-over-year
September 22, 2011
– Rexam plc recently released the 2011-2012 edition of its global consumer packaging report, which finds that the global market value of consumer packaging in dollar terms has returned to pre-recession levels and that the long-term outlook is promising.
The global market for consumer packaging in 2010 was valued at a little more than US$395 billion and grew by 6% from 2009 to 2010. Though the near-term forecast is somewhat gloomy due to current economic conditions, the long-term outlook indicates about 3% growth on average per year, with the packaging market reaching $456 billion in value in 2015.
In 2010, food packaging was valued at $202 billion, making up 51% of the market. Beverage packaging came in second at 18% of the market, trailed by healthcare at 6% and cosmetics at 5%.
In terms of growth rates, healthcare is expected to grow the fastest, forecast at 4.5% growth per annum until 2015. Food and beverage are forecast to grow at 3% per year in the same period.
A noted trend is a movement toward emerging markets from bigger, more developed markets. The packaging market value of Asia, Oceania, Africa and the Middle East is now equal to that of Europe at 34%. Europe’s share declined 2% from 2009 to 2010 while North America and Europe posted modest growth, with Europe narrowly exceeding the North America.
The fastest growth rates have been observed in developing markets. Though there has been a lot of focus on BRIC countries, Rexam noted that another group of countries known as MAVINS (Mexico, Australia, Vietnam, Indonesia, Nigeria and South Africa) is starting to see accelerated growth, as are Turkey and Poland.
In 2010, rigid and flexible plastic packaging comprised a 37% share of the global market. From a 2010 baseline though 2015, rigid plastics is forecast to grow fastest, with an average growth rate of 4% per year. Consumer demand for light, safe, transparent, convenient and microwavable packaging is likely to drive rigid’s growth.
Metal packaging comprised the second largest share of packaging at 15%. Metal beverage cans made up 6% of the 15% share. Metals are expected to grow at a rate of 2% yearly to 2015.