Global
packaging industry growth rates vary across the types of packaging. The growth rate of beverages package industry is 3.2%, whereas it is 5% for health care products. Various market reports establish the fact that the domestic packaging market shares 29% of the global market. The overall capital involved in global packaging market is approx. $433 billion. The packaging industry is a large and diversified market, with lots of contenders, who are competing with each other for the overall growth of the industry.
Packaging industry growth segments
The portion of domestic packaging market from the overall $433 billion global packaging market is $124 billion. According to the type of materials used, packaging industry can be subdivided into four general segments, which are plastic, paper and board, glass and metal. The paper and board is the largest segment that shares 36% and plastic segment is the second largest segment, sharing 35% of the overall global market. Out of various packaged products, food and beverages shares approximately 40% of overall global packaging market, where beverage alone captures 18% .
Factors responsible behind the growth of packaging industry
These growth rates vary from 3.2% (for beverages) to 5% (for health care products) and out of different packaged products, food package market grows the most. It should be noted that subsegments of an end market may grow at higher rates than the end market itself.
Packaging industry growth from economy point of view
Packaging industry is going to be a booming industry and the overall economy of the country is to some extent dependent on this industry. 2004 is expected to be a good year for the packaging industry. Year 2004 was a good year for the global packaging industry although in 2006, the global packaging industry sector was largely affected by the sustained depreciation of the US dollar against major world currencies.