by Mieszko Blitek, MarketLine
The global containers and packaging market has experienced dynamic development in recent years and is forecast to keep this momentum, according to MarketLines Global Containers & Packaging Industry Profile.
For several years, strong market growth has been seen, driven by the sale of high-quality recyclable products, which have become a significant feature of the market.
In the coming years, according to MarketLine data, the growth trend is expected to remain between 3.8 percent and 4.4 percent, varying depending on the type of packaging. This applies to both the raw material from which the packaging was made and the intended use of the packaging itself.
Environmental concerns are affecting the demand for packaging made from ecological raw materials. Thus, the forecasted growth of paper and cardboard, metal and glass packaging are expected to rise with compound annual growth rates (CAGRs) of 3.6 percent, 3.7 percent and 3 percent respectively over the 2017-2022 period.
The positive dynamics of the development of the rigid and flexible plastic packaging market also can be noted. It is expected that the growth rate of the paper and cardboard segment will equal and even exceed the growth of the plastic packaging segment in the coming years as recyclability and environmental concerns assume greater importance.
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Mieszko Blitek is a team leader at MarketLine, publishers of global business information.