Packaging consumption in the Middle East is increasing, with plastic shelf-ready products set to enjoy a boost.
Flexible packaging
Smithers Pira's new report 'The Future of Retail-ready Packaging to 2021' reveals that global retail-ready demand reached a total of 30.5 million tonnes of material in 2015 and was worth $62.8 billion. The market is expected to grow on average by around four per cent annually across 2016–2021, reaching 38.7 million tonnes of paper and plastic materials and a value of $82.0 billion in 2021, at constant 2016 prices.
In the Middle East alone, the retail-ready packaging industry was worth $2.26 billion in 2016, which is around three per cent of the worldwide market. This is set to grow to $2.64 billion by 2021 over which time modified case and die-cut containers are expected to become more popular.
Moreover, packaging that can be produced on a shorter print run will drive innovation in this field, the report stated, while fresh food - which currently dominates one-third of the market - will have its market share overtaken by chilled and frozen food, leading to more packaging innovation for products destined for the fridge and deep freeze.