Global packaging market to hit nearly $135 billion

By Editorial Staff, Resource Recycling

Rising demand from retailers, chemical manufacturers and pharmaceutical companies is expected to propel the global packaging market to $135 billion this year, according to new research from Visiongain.

The Industrial & Bulk Packaging Report 2011-2021, says that this growth comes despite higher production costs and weak demand in the U.S., Europe, Japan and other developed countries. Instead, strong growth projections in India, China, the Middle East and Latin America are overcompensating for sluggish demand elsewhere. Additionally manufacturing increases in these areas, coupled with rising demand for fresh produce and redesigned, lightweight packaging in developed markets are also cited as evidence for growth in 2011 and the coming decade.

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