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As far as a grain packing machine manufacturers is concerned,the demand for packaging has been growing exponentially as the packaging design is the most important approach to draw eyeballs of customers. Besides branding, the packing design of your product can either make or break you in the industry.
According to the report ‘The Future of Global Packaging to 2022’, the demand for packaging will grow steadily at 2.9% to reach $980 billion in 2022. There will be 3% rise in the global packaging sales and growth at an annual rate of 4% by 2018.
In Asia, sales of packaging accounted for 36% of the total whereas North America and Western Europe have shares where 23% and 22% respectively.
Figure: Global packaging market forecasts
In 2012, Eastern Europe was the fourth largest consumer of packaging with a global share of 6%, closely followed by South and Central America with 5%. The Middle East represents 3% of the global demand for packaging, while Africa and Australia, each have a 2% share.
This market segmentation is expected to change significantly by the end of 2018 as Asia is predicted to represent over 40% of global demand.
Demand for packaging in China, India, Brazil, Russia and other emerging economies are driven by growing urbanization, investment in housing and construction, the development of retail chains and the burgeoning healthcare, and cosmetics sectors.
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