Packaging & Labeling Industry Report 2020
The growing application of packaging in various industries such as pharmaceutical, food processing, manufacturing industry, FMCG and increasing development of packaging sector in emerging economies such as China, India, Brail, Russia and few other East European countries are the major factors driving the packaging industry. The growth of global trade as well as urbanization and population growth are creating pressure on exports and imports as well as packaging for safety of the goods. The busy life has also forced many consumers to consume food on the go, which is increasing the need for food service packaging.
The packaging industry has come up with different types of innovative packaging technology such as packaging with safe closures, flexible handling or easy portioning which helps in increasing the portfolio of the packaging industry. Europe has the largest share in the global packaging industry with more than 30 percent of the share followed by North America with 28% and Asia-Pacific with 27% market share. According to Smithers Pira, non-paper-based packaging has more than a 54% share of the whole packaging industry and paperboard packaging has about 36% market share which shows the demand of new innovative packaging compared to the traditional packaging system.