A report by Smithers Pira has suggested that the global packaging market will grow by 3.5% each year up until 2020.
The market report was developed using a mixture of primary and secondary research, which included carrying out interviews with industry experts across the globe. Data on production and consumption from different suppliers and statistics from a range of government and industry associations was also analysed in order to forecast the future of the global packaging industry.
Amongst the key findings in the report are that the global packaging market grew by 2.8% in 2014, with it valued at $812 billion. Smithers Pira predicts that sales for the industry are set to reach $997 million by the year 2020, after continued growth from 2014 onwards. In a time of post-Brexit uncertainty with regards to trade and import and export regulations, these figures are welcoming news for the industry. Only time will tell whether the projections ring true.
Martins Mill Packaging offer a range of packaging products including bags, cartons, tubing, wraps, pallet covers and tape. Our bags can be printed with company names and we offer bespoke packaging solutions too. For more information about any of the items we stock, please get in touch today by calling 01422 363 935.