Packaging design to enable forecast market growth of 3.8% to reach over $1 trillion by 2026

According to Smithers Pira the total value of the packaging market is set to rise at a CAGR of 3.8% from $806.3 billion in 2016 to $1,162.1 billion in 2026 – and packaging design will have a major part to play in facilitating this growth.

The Future of Packaging Design: Long-Term Strategic Forecasts to 2026 states the future of the packaging industry, as any other, will be shaped by general political, economic, social and technological factors. Meanwhile, the specific future of packaging design to 2021 and 2026 is forecast to be determined by supply side technological trends and demand side consumer trends. The report looks at the influence of factors such as convenience, consumer income, health and wellness, and single-person households on market demand, and on resulting packaging design trends.

Ashley Gange, report author states: “The political environment will affect the packaging industry and packaging design via initiatives, legislation and regulation affecting environmental affairs such as sustainability, food packaging labelling and packaging safety. Sustainability has become a particularly important consideration in many areas over the past decade.

“This is especially true in packaging where it is a major issue since packaging materials are extremely visible to the consumer. This is because packaging as a single-use product faces intense and growing pressures from consumers, retailers, suppliers, governments, regulators, NGOs, environmental groups and others for the development of environmentally friendly solutions.”

For the first time the European labour market witnessed more workers retired than joined in 2010. The impact of this trend on the printing industry will become more evident with time, as the gap is predicted to increase substantially. In a decade, more large counties including Canada, China and South Korea will have more people at retirement than working age. Emerging markets such as Brazil, Mexico and India are seeing more people joining labour markets than ever. If these counties provide their youth with adequate education and opportunities to develop their skills, this demographic trend will benefit local printing industries.

By end use, greatest actual growth was recorded by food packaging which increased in value at a CAGR of 3.6% from 2010 to 2015. Its share of total packaging value rose by 1.7% over this time. The rate of growth in food packaging is forecast at a CAGR of 3.8% from 2016 to 2021, resulting in an increase in total share of packaging value of 0.2% over this time.

The major objectives of The Future of Packaging Design: Long-Term Strategic Forecasts to 2026 are:

• To analyse the medium and long-term economic, demographic, technological and social trends affecting packing design
• To analyse packaging design trends and their effects on individual end-use sectors, including food, drinks, cosmetics, healthcare products, and other consumer goods
• To assess potential opportunities for value-added packaging and to offer packaging market and sector forecasts to 2021 and 2026.

_{The Future of Packaging Design: Long-Term Strategic Forecasts to 2026 is available for £4,200.}

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