Smithers Pira, the world leading industry and research source for the paper, print and packaging sector expects the demand for cardboard corrugate and thus packaging design expertise will grow substantially. They forecast as well that global demand for Corrugated Board Packaging will grow by $15 billion to $67 billion by 2017.
In their newly published study – The Future of Global Markets for Corrugated Board Packaging to 2017, Pira International suggests growth in demand for cardboard packaging will be driven primarily by the growing urbanization of emerging economies in Asia, and South America. Asia will consume almost 50% of corrugate board products in the next 5 years with China taking 70% of the Asian continent total. These consumers are showing a need and preference for convenient product packaging. Packaging for chilled, takeaway and ready-cooked foods is the key factor for growth in the market.
It’s estimated that about 60% of corrugated board is used for packaging non-food products and the largest single end-use sector is the electrical goods market, processed food products at 25% of total demand.
What will growing demand from the rest of world do to demand and pricing here in Canada? Certainly with this growth, demand for Canadian corrugate cardboard and packaging design and technology will grow. And with domestic demand flagging, Canadian suppliers will need to adjust to fulfill strong export markets. It’s a great opportunity for corrugate and packaging companies here in Canada to forge new customer relationships with importers too.
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