A team of consultants from The Economist Intelligence Unit, the business information arm of The Economist Group and world’s leading provider of country intelligence, worked closely with a joint task force of NPES and VDMA member companies to conduct the most comprehensive research and analysis to date on the global print packaging market for this first ever co-produced study by the global association leaders, NPES and VDMA.
According to the new study, total world packaging revenues grew from $231 billion in 2011 to $245 billion in 2016, and between 2016 and 2020 print packaging global revenues are projected to grow by 17% or $41 billion to $286 billion in 2020. Notably in 2016, 79% of total global print packaging revenues was concentrated in the top five markets comprised of the US, China, Japan, Germany and the UK, however, the largest share and fastest pace of future growth will be recognized in emerging nations, primarily in the Asia-Pacific region.
The accelerated growth of emerging markets remains the dominant trend and driving force behind the print packaging industry outlook, due to rising middle classes and fast-growing incomes and urbanization. Regionally, Asia-Pacific is the largest market projected to grow to $130 billion by 2020, compared to North America projected to reach $90 billion and western Europe forecast to reach $52 billion.
All subcategories of print packaging will grow at rates of 3-5% CAGR, with corrugated print packaging enjoying the highest share of the global packaging market at $101 billion in 2020, though demonstrating the slowest rate of growth at 3.5% in 2016-2020. Flexible print packaging will be the fastest growing segment at 5.7% average annual pace to post revenues of $73 billion in 2020. Specific country markets across developed and emerging economies will experience varying rates of growth, in all subcategories, to also include folding cartons, labels and tags, and other segments such as direct print on metal and rigid plastics.
NPES President Thayer Long says, “We are tremendously pleased with the ongoing partnership forged with VDMA to continue to expand the “Worldwide Market for Print” study series, and to concentrate on the global growth potential existing in all packaging categories for the benefit of our respective members. We not only will expand our research relationship with VDMA this year in the Phase Two of the WWMP 2.0 study focused on the publishing, and marketing and commercial print segments, but also in two new 2017 studies underway to provide significant insights and findings for our members in both OEM services to printers and worldwide projections for consumables – key areas important to further drive value chain alignment and universal industry growth.”
In 2013, NPES published the landmark, “World-wide Market for Print: Identifying Global Opportunities for the Print Industry” study, which framed an understanding of the size of the global print and imaging industry. Acknowledging the significance of this world view and continuing the WWMP study series, NPES and VDMA forged a unique new partnership resulting in Phase One of the new WWMP 2.0 study series in 2016 that examined global print packaging markets within 26 countries across the globe that combined represent 80% of global GDP and 70% of the world’s population.
This 2016 research study evaluated key country demographics, investigated global and regional packaging industry trends, sized the historical print packaging industry from 2011–2015, and provided an analytical view forward through 2020 complete with recommendations for NPES and VDMA members to leverage worldwide business opportunities. Now underway, the co-sponsors are completing Phase Two of the WWMP 2.0 series with a similar multi-country methodology to explore the global publishing, and commercial and marketing segments.
More info: Rekha Ratnam at 703-264-7200, email: firstname.lastname@example.org, www.npes.org or dup.vdma.org