Start a Business in Packaging Industry

The global packaging market is expected to develop at a rate of 7.5 percent each year. Factors such as expanding e-commerce sales and rising need for FMCG and pharmaceutical packaging are fueling market expansion, but raw material scarcity is stifling it. Due to the need to feed and help manage trash, the plastics/polymers industry is expected to increase at a profitable rate. Because demand from numerous end-use industries is expanding, particularly in the food and beverage segment, the usage of plastic packaging will witness a large increase during the COVID-19 crisis. The simple availability of packaging raw materials such as fibre, plastic, and glass, as well as the presence of manufacturing facilities by major packaging businesses, will drive substantial growth in Asia Pacific. Asia is the most important market, accounting for 40.6 percent of global packaging use in. North America is in second place, accounting for 22.6 percent of global packaging usage, ahead of Western Europe, which accounts for 20.3%. Rising real incomes, population growth, urbanisation, and the expansion of retail infrastructure in Asia, Africa, the Middle East, and Eastern Europe will benefit the industry. This will result in all of these regions’ packaging usage increasing at a greater rate than the global market average.